Skanska’s Small Business Incubator: A $740M Investment in Community Growth

Transforming Small Business Futures: Skanska's Impact

Small businesses often struggle to find their footing in competitive industries, especially in construction, which can often feel inaccessible to newcomers. However, Skanska’s Construction Management Building Blocks program is changing that narrative. Launched in 2007, this initiative has partnered with diverse, small companies to not merely teach but empower them in the construction sector. It has significantly contributed to small business growth, with forks in opportunity leading to approximately $740 million in contracts with Skanska since its inception.

Why Community Growth Matters in Construction

Skanska’s commitment to community and economic development through its Building Blocks program highlights an essential principle: when small businesses thrive, entire communities flourish. As Tracy Hunt, general manager of Skanska’s Florida operations explains, the goal is not purely to subcontract work to these smaller firms but to facilitate an ecosystem where they can collaborate with not just Skanska, but also other competitors. The program has educated about 800 companies, all while fostering partnerships that generate employment and enhance local economies.

A Real-Life Example: David Delancey's Journey

Take the inspiring story of David Delancey, whose passion for construction was reignited through family conversations. After starting his firm, One Day Came, he returned to the University of South Florida, eager to improve his business practices through the Building Blocks program. Delancey's firm is now involved in significant educational infrastructure projects valued at around $70 million, a feat that reflects the scale of growth possible through mentorship and education.

Building the Future: Educational Initiatives within the Program

The Building Blocks program offers various free, multiweek courses covering essential areas like contracting methods, safety standards, and sustainability practices. These classes not only enlighten participants but can improve operational efficiency and client relations across the board. Skanska employees facilitate discussions on critical skills, ensuring that small contractors are equipped to navigate the complexities of construction projects.

The Bigger Picture: Resilience of the Construction Industry

As our economy continuously shifts, the importance of resilient businesses within the construction industry cannot be overstated. Skanska’s initiative encourages a broader understanding of market dynamics among small firms, enhancing their ability to adapt and innovate. By fostering partnerships and aiding in skill development, they create a workforce that’s prepared for the increasing demands of modern construction.

Looking Ahead: The Future of Construction

With construction projected to remain a vital part of the economy, programs like Skanska’s Building Blocks are essential for developing the next generation of contractors. They are not just teaching skills but are instilling the confidence and knowledge small businesses need to not only survive but thrive in a dynamic marketplace.

Your Role: Support Local Contractors

For homeowners looking to remodel or improve their living spaces, choosing local contractors can have a significant impact. By opting for home remodeling services provided by firms in community programs, like those nurtured by Skanska, you are participating in a cycle that promotes economic growth. So when searching for "home remodeling service near me" or "contractors near me", consider supporting those who are committed to excellence and community upliftment.