Ira Kantor: Where are we now, where are we headed and where are the opportunities?

As the economy continues to mend and the commercial real estate market slowly makes a comeback, the construction industry is beginning to feel the impact that other sectors experienced during the recession. Over the last year, construction companies are completing an existing backlog of work. Although this has helped stabilize the real estate market is also limiting new opportunities. As a result, the construction industry has become increasingly more competitive. Developers, contractors and other related companies have had to reposition themselves in the market to act quickly. They're relying more on trusted advisors to analyze expenses and make recommendations for cutting back on unnecessary expenses. Additionally, they are finding it beneficial to work with outside professionals who understand the regulations and hurdles related to their industry. By employing tactics to help them navigate through various financial challenges, businesses within the constructions arena will remain competitive and better position themselves to take advantage of opportunities as they arise. Ira Kantor is a director at Marcum LLP, Melville, NY