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2013 - The year that was...
2013 has continued to be challenging for the construction industry in most regions across Australia.
Residential and commercial construction still hasn't fully recovered from the GFC, and while the mining sector has provided opportunities for trades, it is local construction and in particular, consumer confidence that can bring a much needed and long overdue recovery for local tradesmen.
When construction is tight, tradies fall back on repairs and maintenance to keep the wolf from the door. But it gets very competitive and difficult to get a slice of the pie.
We have many clients who are doing very well - but they have had to improve their local exposure by increase their marketing programs. In a competitve market, efective advertising is even more important if you want to be in the game.
2013 has also been a shocker for positive small business sentiment.
The political debate has been incredibly negative and the media have loved it!
If doom and gloom is all people hear every time they turn on the radio or TV, they are not likely to rush out and start spending their hard earned dollars.
Will 2014 be the year?
Let's hope so!
An early sign of a recovery is Sydney's housing market - it has seen a remarkable surge in the past few months. This can have a two-fold effect.
Firstly, people who buy and sell often upgrade or renovate the house either before or after a sale. This stimulates construction and pulls tradies out of repairs and maintenance.
The second - and most important benefit of a rising housing market is overall confidence.
If suddenly your house is worth another $100,000, you are more likely to spend a bit of cash! And you are more likely to visit the bank manager to borrow some money on home improvements - especially when you know that money invested can add even more value to your home.
The same stimulus in housing isn't Australia wide - yet, but Sydney often leads the way in consumer confidence - whether it's positive or negative sentiment.
And we can only hope that the new federal goverment and the media can become a tad more positive in the broader political debate!
So we wish you the very best for 2014 - may it be a prosperous one for you all!
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