Inntec Weathers The Storm
The Australian building industry has faced some stiff challenges in recent years, having not entirely recovered from the Global Financial Crisis that sent the entire sector into a spin. In addition to economic strife, Australian manufacturers and suppliers have also had to compete with an increasing influx of cheaper, often inferior, overseas building products.
The effects of the upsets have been felt throughout the entire industry: from large scale redundancies in some of Australia’s most iconic building companies and the closure of steel and timber mills, right down to the local builder working and living on your own block.
Inntec Refurbishments is a family-owned building company in Brisbane which was established by builder/engineer, Cameron Innes in 1979 and has been improving the lifestyles of families throughout South-East Queensland ever since. Although the small company has survived and is finally beginning to see a slight upturn, Cameron says it has been an arduous process requiring some difficult choices.
“The Global Financial Crisis made things difficult for all manner of businesses in Australia from 2007, not just in the construction industry but all over,” he says. “The general business climate has been slow and in order to deal with that, work has had to be priced very competitively.”
While adapting their pricing mechanism to better suit a more scrupulous and dollar-conscious consumer helped Inntec Refurbishments compete, Cameron says it was their commitment to a high level of customer service that really pulled the company out of the economic muck and mire.
“I believe we have survived not only because of our competitive pricing but also our attention to detail and level of customer service. In uncertain economic times, customers have to be confident they are getting real value for money before investing in their homes.”
Despite cutbacks on outlays, Cameron never compromised on quality of work or materials, which he says was the key to weathering the unpredictable economic and industrial climates.
“That was essential, that we never lowered our standards or cut corners,” he says. While we understood times were difficult and did what we could to offset costs, I insisted on using the same high-quality tradespeople, materials and supplies we always had. It made no sense to save my business at the cost of my reputation or my people.”
Essentially Inntec’s survival and future viability came down to a fine balance of fiscal restructuring and maintaining the high quality of work people had come to expect from the company. While a full economic recovery seems out of sight and the industry continues to struggle under the pressure of both new and recurring challenges, small companies like Inntec Refurbishments persevere and even prosper through sound financial strategy and delivering a high quality service and product upon which customers can depend.