Popular Internet memes are commenting on the fact that currently, the number one film is Top Gun, and America is in a proxy war with Russia. It feels like we’re back in the eighties.
Recently, we’ve dealt a lot with the unexpected. Yet, we still can’t help being surprised when things don’t go as planned, or worse when the extreme version of events happens.
So, to take Rudyard Kipling out of context,
‘if you can keep your head when all about you are losing theirs…’
Now, more than ever, It’s time to “keep our heads”. This is why Quantum Contract Solutions is always on hand to assist clients and to keep our eye on market trends.
PLUS we’ve added an additional layer of security to the service you currently have with Quantum. (Provided you are on the Pre-Award Package).
We need to be pragmatic and alert to the signs, without initiating a full-blown panic. And without being alarmist, we should prepare for a storm, because as the old adage goes, ‘it’s better to be safe, than sorry.’
So here are some signs:
Deutsche Bank predicts a major recession in late 2023 or early 2024. Goldman Sachs suggests a 15% chance of a recession in a year and a 35% chance of a recession within two years.
My hunch is that this will inevitably mean a downturn in the construction industry.
This means an even higher incidence of people higher on the food chain passing on risks to those beneath them. Not to mention cash flow issues, supply chain issues, and rising costs.
As you know, contracts are one of the best ways to safeguard yourself from a crisis. They’re the ultimate insurance policy if they’re done right.
We can’t emphasise the importance of planning for the long game enough.
That’s where we come in.
We’ve introduced (at no additional cost) some safety nets into all of our reviews. We can look into your client’s financial status if they have been in a court case before (and for what). This gives you peace of mind and the security you need to proceed with the project (or not).
Whether or not there’s a storm coming, it’s always good to be prepared.