A recession is also a fact in many countries these days. However, what is good news is that inflation seems to be falling, albeit slowly. The mood of the industry is not actually that gloomy despite the impression you could gain when listening to the news reported in the media. I talk regularly with both contractors and suppliers around the globe. Of course, there is some grumbling if projects are delayed or put on hold. Bankruptcies have increased both among contractors and suppliers, but there is little consistency from companies and countries, with many companies stating that the jobs are actually there. 

It may sound a bit strange to some, but the companies that take care of their business and customers are the ones that are doing better. Borrowing a passage from the Bible, ‘when the chaff is separated from the wheat’. It should pay to be honest and sincere in your conduct, both privately and professionally. As a rule, there are no shortcuts. If you, as a contractor or supplier, have taken the perhaps both more difficult and longer path, which may not have always yielded the quick return, but which has equipped your company in a way that will last, you will benefit from it when life starts to get tough. 

This edition of the magazine provides several good examples of how quality and seriousness in products and work pays off, even if it may cost a little more. With the help of industry branch associations, equipping your company and your employees with the right equipment and training to do a good job, providing the customer with the best service possible, is sound business. Satisfied customers, as is well known, also spread good news, come back and multiply. We can only wish that customers act in the same way and actually choose the contractors and suppliers who stand for quality and work to be long term partners instead of only going by what the price tag says. 

I may take the opportunity to point out that this also applies in our world as a trade magazine. When the economy is bad, many companies reduce their advertising budgets in the hope of saving money. They put pressure on the rates of advertisements and the number of insertions is reduced. As a trade magazine, we can meet this to some extent, but after all, our income comes almost exclusively from advertising revenue and it is needed after all to maintain as high quality of content as possible. 

I would like to take this opportunity to thank all our advertisers and readers for 2023 and hope to see you again in 2024. Let’s hope that 2024 will bring some more light to this world.

Wishing you all a Merry Christmas and Happy New Year.