PREDICTIONS FOR 2023 – Nex Flow Air Products Corp

PREDICTIONS FOR 2023

2022 was a surprising and challenging year. And it was also an opportunity to prepare for 2023 challenges.

What can we expect for 2023? It is hard to predict but here are mine.

• Labor shortages will likely continue in some areas but not all fields. Also, any slowdown will probably close down businesses reliant on low-interest rates. And this would also mean the end of some so-called zombie companies unless interest rate reversal happens.
• The movement toward automation and Ai will continue. But probably slower than one might think. Because capital will be more costly with higher rates, and things will slow as a result, but not stop
• There will be an improvement in some supply chains, perhaps even surprising improvements. Because the move to more secure supplies continues, but occasional supply disruptions will still occur due to geopolitical insecurity
• Food and energy will cost more – period (time for a diet and start riding a bike!)
• Inflation will stabilize but remain high compared to the recent past- maybe around 5% on average for 2023
• We will be starving for more than just food – we will seek innovative solutions, and finding them will remain a goal for Nex Flow Throughout 2023

More Predictions for 2023

• We will find a balance between remote work and working together at a set workplace.
• As in 2022, online support will remain essential, judging companies by the level and quality of support they can provide. At the same time, personal visits will be as-needed due to ever-increasing costs and a general shortage of quality support.
• Retired boomers will be called back to work because of subsequent generations’ lack of experience and talent to provide quality support. It will not be cheap – I call it an old folk consulting boom – you can call it a Boomer Boom.
• Taxes will be higher again, and tax rates, while adjusted for inflation, will be changed at a lower rate than real inflation – so just higher.
• While taxes will increase, much money will be thrown at projects to improve the supply chain and resources to more reliable locations.
• Travel will get back to some of the old normal but will remain more costly than in 2021 and with fewer frills, but less expensive than in 2022
• Expect much more of the unexpected than we got in 2022 – a lot more!

Predictions for 2023

What are your thoughts?