With the exception of mining, it’s been a tough business climate for most industries over the past five years.
At times it has almost seemed like a ‘sustained struggle’ since the global financial crisis first hit in 2008.
Count the years and it’s been a while. HVAC&R hasn’t been immune to the damage, which peaked in early 2012 with the collapse of the Hastie Group.
Only now, in 2014, are we starting to see glimpses of economic improvement.
I won’t boldly declare clear signs of a recovery, just glimpses of change.
The tough times haven’t just been limited to business: Australian politics mirrored the dismal landscape with a minority government and constant leadership challenges.
These were pretty dark days all round, but in just a few weeks there has been a noticeable shift, maybe even a whiff of optimism.
First Prime Minister Tony Abbott vowed to lift economic growth and kick-start major building programs.
The only complaint I’ve heard from industry is that growth could be hindered by skills shortages. As a result, industry wants to increase the annual migrant intake from 190,000 to 220,000 places.
Further, the government will abolish more than 8000 redundant federal laws with its first “repeal day” scheduled for the final parliamentary sitting week in March, which is part of the Prime Minister’s plan to slash red tape by $1 billion a year.
Globally, economic recovery has already begun in the US and Europe, another sign of improvement.
I’m not suggesting we start popping champagne bottles, but I do believe 2014 will be the start of a cautious recovery.
For HVAC&R it begins with the ARBS Exhibition in May and continues with the start of the 2014/15 financial year.
It should really kick in to high gear by the time the CCN Live Conference comes around in August, with the event focus on driving profits in the year ahead.
It may not be the right time to start cheering, but maybe the coast is clear to proceed with caution.