2016 has brought many challenges to the mining and construction industry. With news of lower than expected economic progress as we prepare to enter 2017 you would have thought the worst was over. Back in March we highlighted some of the factors in our market to consider with business planning for the year. The mining segment of the yellow goods market was more fragile, and with the expected growth in national infrastructure, construction/general purpose segments of the yellow goods market continued to out-perform the struggling mining segment through out 2016. Take into consideration the positive year we’ve had with a consistently good price for gold and the resurrection of sustained investment in exploration it appears the mining segment for yellow goods has had a revival as such.
PRODUCTIVITY
From the news emerging today that the Australian economy has its steepest decline since the GFC more effort and restraint looks to be the order of the day for us all! Conflicting ideals appear on our doorstep when we pair that with the significant inroads that Lithium production in Western Australia is ramping up and Roy Hill announcing increased production for 2017 enlightens the mood. I would say the mining industry is about to get very exciting and this forecasted downfall is merely a dip in an otherwise well travelled road!
GROWTH
And what have we got to say about this all? Well you may be well informed that Worthy Parts have had a most prosperous year! We’ve been able to see through the proverbial storm and provide our clients with a cost saving way to purchase components and parts in their time of need and in the same sentence see the same clients generate revenue from their idle stock! We have made great advances to grow our brand recognition across Australia. Visiting our Eastern State allies, not to mention an international trip to MINExpo2016 in Las Vegas has opened new markets and established long-standing relationships with our Australian and International friends. We’ve seen growth in our business and we don’t anticipate this to slow down as we enter 2017. One of the reaffirming assurances that we are doing things right was our Small Business Awards win and subsequent shortlist for 2016 Western Australian Regional Small Business Award for 5-10 Employees!
JOIN
What’s coming for 2017? We’re investing in you! Our website will be growing to accommodate all your parts and components needs, WorthyParts.com has engaged over 10,000 unique users monthly who have all come to source and sell parts! Join the Worthy community and see how your business will benefit in these challenging times with sourcing and selling your parts.
