Tradies: are you prepared for the changing business conditions in 2020?

Business conditions are changing for Aussie tradies.

The Australian Bureau of Statistics (ABS) data shows that residential building approvals have had a sharp decline in recent months (see chart above). These declines are expected to decline further and have a major impact on work available for tradespeople. This means that there is likely to be tough times ahead for tradies who are unprepared.

HIA Building approvals

Recent Housing Industry Association (HIA) figures show a similar dire situation for Aussie tradies in most parts of Australia.

The bush fires across Australia are tragic for those impacted. The recovery funds and programs announced by the Government are desperately needed by those impacted communities.

The rebuilding work will increase the potential for work for tradies in those impacted areas.

However, the declining housing approvals is likely to have a larger downward affect for the construction industry than the increase from rebuilding bush fire affected communities.  

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