Insights from Richard Lewis, Iron Capital Group Director, junior footy coach and Hawks member.
I’m not counting, but it seems there’s been about as many changes to COVID-19 restrictions in the past three months as there have been to AFL rules in the past three years – plenty.
Of course, coronavirus’ unpredictability requires flexible policy, and it’s only appropriate to regulate according to the latest data and advice from health authorities. Goal posts needed to shift.
That said, the constant tracking of the changing rules can get tiresome, and, understandably, create uncertainty for any business’ game plan.
A lot of business owners I’ve spoken to recently have told me stories about how they initially worked hard to protect their base and search for new revenue sources via the customary ‘pivot’ before, well, mostly hoping for the best! Oh, and they missed their footy dearly.
Now, as Australia’s COVID-19 health crisis looks somewhat more controlled, these same business owners are turning their attention to how they can emerge with strength, or even bounce out, despite the inevitable list of economic unknowns. Oh, and they’re a hell of a lot happier now footy’s back.
Appropriately, governments across the nation are playing their role in Australia’s awakening from its corona coma. The Federal Government is talking about an infrastructure led recovery and, pleasingly, it’s walking its talk. The provision of more than $9.3 billion in extra funding over the past eight months is bringing a range of projects forward and, along with it, some buoyance in the sector.
One recent announcement to fast track 15 major projects across the country will, no doubt, provide a solid pipeline of work for the earthmoving sector. We also have more infrastructure jobs, such as those created by the Melbourne to Brisbane inland rail, which is certain to stimulate some much-needed ripples in regional economies. And, of course, the increased investment in the Western Sydney Airport project is a proof-point to the narrative that substantial works are taking place in metropolitan areas of Australia.
The Australian Bureau of Statistics has previously estimated that every job created in the construction industry leads to another three in the wider economy.
With more than 66,000 jobs created from these recent commitments, we’re on our way to having enough confidence in conditions to formulate a winning plan. Even if the goal posts move again.
Rich will be back with more insights on how the earthmoving and infrastructure sector is shaping up in the second half of 2020.