How contractors can survive a downturn

There have been construction industry rumblings for some time now that the boom that many contractors have been enjoying for years might be coming to an end or at least slowing down. Yet contractors are still reporting that they're busier than ever and, according to the Associated Builders and Contractors, are enjoying near-record backlogs. One theory is that the lack of skilled trade workers is creating a project logjam that is camouflaging a less-than-sunny outlook. Nevertheless, preparation for the worst never hurts, and there are ways that contractors can protect themselves from potentially rockier economic conditions ahead.