The Road Ahead: What Sureties Need to Know to Work with Contractors in 2021
Recorded On: 01/21/2021
The mayhem created due to the COVID-19 pandemic will spill over into 2021. Even with the passage of the Consolidated Appropriations Act (CAA), 2021, some sectors of the construction industry will thrive while others will not. We are going to explore what markets will expand and contract so surety agents can better understand and assist their clients. Backlog, overhead, labor, and material costs will all have a significant impact on a contractor’s productivity and profitability.
Bonding capacity in markets where jobs are delayed due to government regulations and Personal Protection Equipment (PPE) requirements will also be addressed. Participants will walk away with a clear understanding of the challenges contractors face in the era of COVID-19 and how sureties can deal with the instability caused by the pandemic.
Martin C. McCarthy, CPA, CCIFP
Managing Partner, McCarthy & Company, PC
Martin C. McCarthy, CPA, CCIFP, is the managing partner of McCarthy & Company, PC. He is well-respected by sureties and bankers for the high quality of his work and profound understanding of the construction industry. Marty helps clients by providing them with the insight needed to grow their business. He has a deep understanding of how to help construction contractors operate profitability and achieve long-term success.
Marty is considered a leading authority on helping contractors recover, rebuild, and restructure from the pandemic. Regarded as an expert on the Payroll Protection Program (PPP), Marty has been instrumental in keeping contractors educated on this and other COVID-19 related government programs. Thomson Reuters presented the 2020 Luca Award for Tax and Accounting to McCarthy & Company in the COVID-19 Response category.
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