Structural Steel and Precast Concrete Contractors — Business Survival Rate

An estimated 54% of structural steel and precast concrete contractors businesses survive their first 5 years, based on U.S. Census Bureau Business Dynamics Statistics. The annual business closure rate is 11.5%.

54%
5-Year Survival Rate
+2.4%
Net Growth Rate
88,283
Total Firms
8,367
Annual Firm Deaths

Is Structural Steel and Precast Concrete a Good Business to Start?

With a 54% five-year survival rate, structural steel and precast concrete contractors is near the national average (~50%). This means roughly half of new entrants will still be operating after 5 years — typical business risk that rewards solid planning and execution.

The annual exit rate of 11.5% indicates moderate turnover. Success depends on differentiation, location, and operational efficiency rather than inherent industry advantages.

Entry vs. Exit Rates

Annual rate of new businesses opening versus existing businesses closing.

Entry Rate (new businesses)12.7%
Exit Rate (closures)11.5%

Net positive: more businesses opening than closing (+1.2 pp spread).

Job Creation & Destruction

17.9%
Job Creation Rate
15.4%
Job Destruction Rate
+2.4%
Net Job Growth

The industry is adding jobs faster than losing them — a positive sign for both workers and new business owners looking to hire. Total employment: 947,903 workers across 88,283 firms.

Want to know how much structural steel and precast concrete contractors businesses actually make?

See full revenue benchmarks for Structural Steel and Precast Concrete Contractors →

Frequently Asked Questions

What percentage of structural steel and precast concrete contractors businesses fail?
Approximately 46% of structural steel and precast concrete contractors businesses fail within their first 5 years. The annual closure rate is 11.5%, with 8,367 firms closing permanently in 2023.
Is the structural steel and precast concrete contractors industry growing or shrinking?
The structural steel and precast concrete contractors industry is currently growing with a net job creation rate of +2.4% per year. New businesses are entering at 12.7% while 11.5% close annually.

Source: U.S. Census Bureau, Business Dynamics Statistics (2023). Survival rate estimated from annual exit rates.