Billd, the leading provider of material and labor cost financing solutions for commercial subcontractors, released its second annual construction industry trend report, the 2022 National Subcontractor Market Report: Business Growth & Financing, on Tuesday, April 19, 2022.
The report includes vital facts and figures that can be used in discussion of topics like inflation, material price volatility and labor shortages as well as industry trends and predictions for 2022.
It surveyed nearly 800 commercial construction professionals across the country. It examines how macroeconomic conditions impacted contractors in 2021 and has shaped their outlook for 2022.
The report will offer crucial perspective into subcontractors’ opinions of their credit options, cash flow and supplier terms—all of which play a key role in achieving their growth goals. Respondents largely consisted of business owners and executives, who have been in business for at least 10 years.
“Billd’s National Subcontractor Market Report provides key insight into the challenges and opportunities subcontractors experience across the industry,” said Chris Doyle, CEO of Billd. “The data can be leveraged to improve the business of construction, and ultimately create better conditions for subcontractors across the country.”
To learn more about Billd’s innovative financing options for commercial subcontractors, visit www.billd.com.
Billd was started by Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance. Chris and Jesse were inspired to launch Billd to bring the financial power of Wall Street to the construction job site, allowing subcontractors to bypass project hurdles with access to upfront funds while enabling suppliers to sell more materials with less risk. For subcontractors who usually aren't paid until more than 90 days from purchasing materials, Billd provides 120-day terms so they can stabilize cash flow and more effectively grow their businesses. With a deep understanding of the construction industry, Billd knows traditional credit metrics are poor predictors for risk in this vertical segment and has built a variety of industry-specific proprietary analytic tools to better assess risk in the construction industry.