Slow But Steady Improvements

By Simon Tully, President of CAOB

A – We have remained focused on our scholarship fund and assisting Bermudians advance their studies in the various engineering categories – mechanical, civil, electrical and structural. One of the criteria is to ensure that the awardees are returning to Bermuda to continue in their chosen field post graduate, to ensure a robust local pool of qualified engineers. This years awardees were Daniel Cabral, Nadia Atttride-Ramella, and Keishun Swan.

A – Lack of labor, and pricing increases. It is becoming increasingly challenging to source labor in contracting, particularly in the General contracting arena because young people simply have more options and lack the desire to get into trades. The traditional Azorean route for labor is also becoming difficult to source as there are other opportunities rather than Bermuda for those individuals. With pricing, the importation of aggregate has driven up the cost of concrete and block, further exacerbating an already inflated building cost. The cost of doing business in the construction field is relatable to the retail industry as there are fixed costs to doing business that you cannot reduce, therefore in general it’s a costly venture.

A – Any contractor – tiling, electrical, GC, HVAC etc that is good at what they do – and I don’t just mean skilled in their trade, I mean punctuality, communication, cleanliness etc – are having a successful time. Demand for contractors is outstripping supply and many clients are waiting months if not a whole year plus for contracts to be fulfilled.

A – Supply chain is pretty much back to normal, the trade shows have resumed and relationships have blossomed due to other avenues for products. Pricing has not changed mainly due to global economics and as with inflation, will continue to rise.

A – We are seeing steady development in the high end residential markets and some hotel developments outside of South P. Renovations and remodelling are a staple of our construction economy and that is also holding steady. Foreign investment in property is the man driver of this.

A – There is not so much job creation as there is steady work. A couple of areas that are seeing growth are solar and home automation as electricity costs continue to spiral upwards and instant access to your home security (cameras), remote locking, and anything app related to your phone increases. 

A – We are currently looking at an initiative with the Chamber to increase the awareness of safety training that we provide so that we can better serve the public. Campaigns to raise awareness is almost a full time job so we require additional resources to market these sorts of services. The benefit to members is that we allow for discounted costs so if companies would like to take advantage of multiple courses, it is beneficial to become a member.

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