Independent Contractors Cautiously Optimistic About 2011
By 250 News
Thursday, December 30, 2010 03:59 AM
Graph showing percentage of membership companies in varying sectors and their thoughts on work volume for the coming year
Prince George, B.C.- The Independent Business and Contractors Association of B.C. is predicting a healthy 2011.
A survey of its 1100 member companies in 10 construction sectors indicates a cautious optimism about the new year and the prospects for increased construction activity.
Philip Hochstein, President of the IBCA says after lean times following the global recession in 2008, companies can now “see a light at the end of the tunnel.”
The surveys indicate most of their member companies see the volume of work holding steady or rising in the year ahead.
“One of the best signs is the most optimistic sectors are excavating and trucking – two industries that are early indicators of construction’s health,” adds Hochstein “These companies are the first ones on the job with construction projects – they dig the holes and haul the dirt so buildings can go up. When things start to improve for them, it’s a sign of what’s coming in the other sectors.”
Construction companies expecting their volume of work to increase also indicated that they’d be more likely to hire extra staff rather than increase the hours of current employees.
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Posted by: greatmysticbushape on December 30 2010 9:09 PM
The only thing that really concerns us right now is that interest rates are going to rise in the new year. The Bank of Canada has been making some pretty dire predictions about personal debt and rising interest rates. I think a lot of business owners carry personal debt as well as the debt from their business. Business owners and the general public need to try to get a handle on their debts levels before rates start to rise again.