Managing Rising Equipment Costs
How to Stay Competitive Despite Rising Costs
By Steve Sniff
Few events in history have had as devastating, far-reaching and long-lasting effects as the COVID-19 pandemic which began in early 2020. Nearly five years later, those effects are still being felt in virtually every facet of human society. Like most industries, construction was hard hit, driving already high prices of equipment even higher. While costs have moderated somewhat over the last few years, they still have not come down to pre-pandemic levels.
Although this has put most small-to-medium businesses( SMBs) in the uncomfortable position of having to pass the higher costs on to their customers, it’ s good to keep two things in mind.
First, everyone faces similar challenges. Therefore, nearly everyone can relate. As someone once said,“ We’ re all in the same boat. Sometimes we row, sometimes we rest. Just don’ t try to walk on water.” In other words,
16 January 10, 2025 www. contractorshotline. com