From Wall Street to Main Street
I used to build houses. I was pretty good at it, believe it or not. My formative years in the military were squeezed in between years of building, managing and struggling in the construction industry. It’s a hard life, but the pay can be great and there is something to be said about building a physical thing that will be around for a long time. Craftsmanship is a unique trait, and the trades are where some of the most amazing things get built. Perhaps it may be common knowledge that the trades are notoriously averse to the tides of technology, perhaps not. I would argue that for being such a large sector of small businesses, there is a problem with the adoption of technology. According to the Small Business Administration, greater that 10% of all small to medium sized businesses are in the construction sector. Even more astounding is that about 99.9% of all construction companies are considered small to medium sized businesses. So, being conservative with our math, if about 45% of SMBs make up the GDP of the United States, we can assume about 4-5% of GDP comes from this uniquely small construction sector. This is not trivial. ...