Well, 2022 is now in the rear-view mirror and it certainly was eventful! From COVID, the war in Ukraine, soaring inflation, supply chain disruptions – we had it all. The Christmas Season arrived with weather that dealt North America a series of brutal winter storms, totally disrupting holiday travel and leaving people abandoned and unable to get home. What a year!
What does 2023 hold in store for us? Alberta will see a spring provincial election and the result may have a significant impact on provincial policy. Will the rising lending rates put the brakes on runaway inflation? What impact will rates have on business access to capital?
There will be continued challenges running a business. Albertans have always had a fearless, strong entrepreneurial spirit and will rise to the occasion. Where there is disruption, there is also opportunity.
The energy sector has never been more flush with cash and after paying down debt and rewarding shareholders, they will likely start reinvesting once again. The agriculture sector has seen high prices for their products and interest in agriproducts has never been higher. Lumber and mining will also be active. A surplus provincial budget will see more infrastructure investment.
We don't know what other challenges or opportunities 2023 will have in store for us, but I do know that the hardworking men and women in the Alberta Metal Building Industry will rise to the occasion and be successful no matter the obstacles!
Wishing you all a Happy and Prosperous New Year!