Contractors Optimistic About Prospects

More than eight-in-10 Ontario contractors are feeling good about their business prospects this year, says the Ontario Construction Secretariat’s annual ‘Contractor Survey.’ While 81 per cent of respondents think their business prospects for 2023 will either stay the same (49 per cent) or improve (32 per cent), only 16 per cent are forecasting a drop in business. “The past few years have been uncertain and difficult, particularly in the construction sector with shut downs, closures, supply chain disruptions, and labour issues,” says Robert Bronk, chief executive officer of the OCS. “But the pipeline of work out there is staggering and generating strong demands for contractors and labour, thereby fueling contractors’ optimism about the coming year.” While there remain concerns about ever-rising costs, high interest rates, difficulties sourcing materials, and challenges attracting workers, these are countered by the sheer volume of work right across the province that is putting more demand on the skilled construction trades.