{"id":12331,"date":"2020-04-01T13:32:56","date_gmt":"2020-04-01T13:32:56","guid":{"rendered":"https:\/\/insulation.org\/io\/?post_type=articles&p=12331"},"modified":"2020-04-20T13:33:09","modified_gmt":"2020-04-20T13:33:09","slug":"an-industry-snapshot-covid-19-impacts","status":"publish","type":"articles","link":"https:\/\/insulation.org\/io\/articles\/an-industry-snapshot-covid-19-impacts\/","title":{"rendered":"An Industry Snapshot: COVID-19 Impacts"},"content":{"rendered":"
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How do you think it might impact your business the most?<\/h2>\n

\u201cTrying to meet unrealistic completion schedules after we return to work and dealing with employees\u2019 health concerns going forward. Also, cash flow after we return to work.\u201d<\/p>\n

\u201cI think construction will pull back in the short term, then hopefully, slowly come out of it around this time next year. On the positive side, maybe labor\/talent in our industry and other industries will free up and become available.\u201d<\/p>\n

\u201cI'm concerned project-starts will dip, even though the forecast for project-starts is calling for significant growth over the next 5 years. This will impact forecasting, capacity, and logistics over the next several months.\u201d<\/p>\n

\u201cExisting job sites will be shut down temporarily and create new project delays. There will be unemployment in our industry for the first time in several years.\u201d<\/p>\n

\u201cProjects are being stopped in their tracks\u2014both commercial and industrial. And for how long is anyone's guess. I suspect 2 to 3 months, minimum. Once things settle down and business opens up again, there will be a big push for material supply. Projects will get back in operation...probably quickly due to the availability of cash with little-to-no interest.\u201d<\/p>\n

\u201cBiggest impact: People losing hours or even their jobs.\u201d<\/p>\n

\u201cAll non-life-sustaining businesses are being shut down. No cash flow = no business.\u201d<\/p>\n

\u201cLoss of revenue is our big concern, but it is too early to know the full impact both in revenue and jobs.\u201d<\/p>\n

\u201cIt will impact us most if there is an overall slowdown in construction of hotels and restaurants.\u201d<\/p>\n

\u201cCash flow issues will put a strain on us as well as many of our customers, general
\ncontractors, and owners.\u201d<\/p>\n

\u201cRevenue deterioration is our biggest concern.\u201d<\/p>\n

\u201cDepending on the extent of the spread and shutdowns, the impact could be mild or severe.\u201d<\/p>\n<\/div>\n<\/div><\/div><\/div>

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