Some 90% of AEC industry firms say COVID-19 will affect overall business development activities in the next 12 months. Zweig Group’s latest survey on the Impacts of COVID-19 on the AEC Industry, found that business development is one of the hardest hit areas of firm operations.
AEC firm leaders/managers were asked to rate on a 1 to 5 scale (1 being little to no impact, 5 being highly negative impact), how much COVID-19 has impacted certain aspects of their firm’s business.
Very low impact scores (2.5 or less) included: ability to finish current projects on time, ability to finish current projects within budget, and ability to provide high quality service and response to clients. The most heavily impacted areas were ability to obtain new work (score of 3.9/5) and ability train staff (3.2/5).
Zweig Group data also shows that AEC firms are investing less in traditional business development activities, partially due to lack of ability to travel and network in person, but also in response to budget cutting. For more information on Zweig Group research, go to https://shop.zweiggroup.com