Financial expert warns: craft services are becoming more expensive and conditions for businesses in Germany are deteriorating

Financial expert warns: craft services are becoming more expensive and conditions for businesses in Germany are deteriorating

According to a report by www.welt.de,

The burden on companies in Germany is now “world record-breaking”. That's what the craft president says. This also has an impact on clients.

The skilled trades in Germany are expecting a difficult year - with consequences for consumers too. The cost of craft services is expected to increase as operating costs increase. It is also expected that companies will accept fewer orders if they make losses. This will also impact wait times for consumers, which are likely to increase. In addition, declining building permits, expensive building materials and sharply increased interest rates also have a negative impact on the trades. Expectations for the future are pessimistic, as politicians and companies are unlikely to achieve the transformation goals set.

The consequences of these developments on the market are likely to be an increase in the prices for craft services and an increased waiting time for customers. In addition, investments and lending are likely to decline massively as a result of the multiple crises and current policies, which could have a negative impact on the entire economy. The uncertainty and lack of trust in the reliability of political action could lead to companies investing less in transformation and modernization. In the long term, this could mean a slowdown in the economy and a deterioration in the location.

It remains to be seen to what extent politicians will respond to these challenges. Better education, base-load energy and the reduction of bureaucracy were mentioned as possible solutions. If politicians do not act accordingly, this could have long-term negative consequences for the economy and Germany's location.