Behind our private companies List in 2021, the breakdowns, gainers and drops

The story of 2020 for private companies — how customer behavior during a pandemic changes businesses, for better or worse — is told through this collection of charts. As residential real estate boomed last year, so did the home mortgage sector, which is reflected in the top two revenue gainers on our List. Technology consulting was also in demand, thanks to the unprecedented shift to remote work. And, apparently, we all bought more wine … and more. Hospitality and travel, meanwhile, were hit particularly hard, given tourism’s sudden halt, while some commercial real estate companies saw revenue get knocked down as living rooms became the new office space, decreasing demand amid Covid-19 lockdowns. Though it’s important to note that not all shifts in revenue or employees represented a loss or layoffs. In the case of Bognet Construction, for instance, Executive Vice President Jennifer Bognet said even though revenue was down, the company still had its most profitable year to date,…

Read the full story from the Washington Business Journal.
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