A Profile of Changing Risk in the Building & Construction Industry – Part 2
Since mid – 2020, we have witnessed a period of rapid growth in domestic construction activity in Australia. This rapid growth caused significant supply and demand issues within the Australian building & construction economy. The industry experienced substantial price increases, shortages in critical building materials, cost blowouts, labour shortages and, in many cases, a doubling of construction time frames.
The Australian economy is now being impacted by rapid increases in official interest rates which have been employed to ease inflationary pressures. We explore the questions; “Will these pressures lead to a further increase in business failures?” Now more than ever suppliers and sub-contractors need to understand the potential impact of these pressures. This topic will be explored from a number of different perspectives, insurance, court actions, insolvency trends and payment trends.
Please join Renee Dobson and Maria Tisdell from NCI and Patrick Schweizer from Alares, as they explore these questions and more.
The presentation will cover:
- What factors have been at play over the last two years?
- What factors are at play now?
- How have insurance claim statistics been trending?
- How have court actions been trending?
- How have payment times been trending?
- What could trigger further failures?
- Reading the signs.
Through an interactive group discussion, Renee, Maria, and Patrick will endeavour to challenge your current processes and thinking in preparation for the next 12 months and beyond.
Patrick has a strong background in technology, holding a Bachelor of Science, Mechanical Engineering from Stanford University. For the past 20 years he has worked in Technological Product Development and Business Development and has successfully developed and commercialised many products in the military, industrial and professional services sectors. In 2017 Patrick co-founded Alares Systems, a technology platform that fills a critical gap in the data provided by the credit reporting agencies to deliver greater insights into financial and reputational risks relating to customers, suppliers, and other key stakeholders.