Advisory firm BDO NZ has released the 2020 Construction Survey. In two parts this year – giving a pre and post-COVID snapshot of the industry, the 2020 survey report looks at the impact COVID-19 has had on the industry and the industry’s key concerns and strategies for survival and growth. Here are some of the report’s key insights.
+ The greatest impact of COVID is the uncertainty of future work
+ 69% had contracts cancelled or delayed due to COVID-19
+ Number 2 concern is falling margins
+ The ‘race to the bottom’ is at risk of being underway
+ 90% needed to apply for the wage subsidy
+ 31% reduced or delayed dividends
+ 85% can pay their creditors when due
+ The forward work pipeline (pre-COVID) improved
Source: The BDO Construction Survey 2020
