Recessions may mean hard times for businesses, but they also are mothers of invention. Entrepreneurs head for their garages and workshops, and business types get busy thinking up new ways to compete. Frederick Cann, a residential and light-commercial contractor based in Medford, N.Y., has done that, and come up with www.BidForMaterials.com, a kind of dating service for contractors and suppliers. “During this recession, all us contractors have done nothing but scramble for work, and the way to get more work is to be more competitive and manage money better,” says Cann, now president of the enterprise he and two partners
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.