So, why the decline in the construction industry?
- Decline in the economy’s growth will directly affect any growth in the construction sector.
- China is purchasing less and less of our natural resources which is hindering our economy’s growth.
- Investors are not confident to invest in South Africa due to the recent political unrest, and governmental policies that are being implemented, which favour job protection instead of growth within the private sector.
It’s not all doom and gloom according to Darryl Gray and Brian Clark who are extremely optimistic for the opportunities this market and year have to offer. “Being innovative, versatile in diversification and putting more emphasis on efficiencies in all areas of business, are key to surviving and increasing in the current economy this year” says Darryl Gray, co-Director of Diamond Products.
With this in mind, Brian Clark, co-Director of Diamond Products, gives us a list of handy suggestions on how to survive in 2016!
“First and foremost we need to be paying special attention to the efficiency of our businesses, in the operational side, the employee side, resources and of course product or service side. This means we need to be looking at where and how to cut costs. One way of maximising efficiency would be to cross train employees to be able to fulfil more than one position or job function. This allows the business more flexibility and productivity as there will be no empty spaces or down time, allowing the company to run at 100% no matter the circumstances.”
“It is also extremely important” says Clark “that we continue to be innovative and to be flexible enough to diversify within our areas of expertise. We are in an ever changing market, and need to be changing with that environment. If we do not change, we will not grow.”
Clark also makes mention of the fact that there are plenty of opportunities out there, but we have to be keeping our eyes and ears open for opportunities. Waiting for those opportunities to present themselves will not benefit any business. We need to be looking for them and prepare for them.
