For businesses, the cost of borrowing has surged, leading to reduced investment in capital-intensive projects. Small and medium-sized enterprises (SMEs) are particularly affected as access to affordable credit becomes scarce. Real estate, manufacturing, and tech industries are showing signs of slowing down as a result.

Impact on Businesses

For businesses, the cost of borrowing has surged, leading to reduced investment in capital-intensive projects. Small and medium-sized enterprises (SMEs) are particularly affected as access to affordable credit becomes scarce. Real estate, manufacturing, and tech industries are showing signs of slowing down as a result.

What This Means for Professionals

Professionals in sectors tied to high-interest loans, such as real estate and construction, may experience job cuts or slower hiring rates. Conversely, those in the financial services industry may see more demand for restructuring and advisory roles.

As we move into the final quarter of 2024, businesses are bracing for further rate hikes. It’s a crucial time for professionals to adapt by focusing on cost-efficiency and exploring alternative markets or industries less impacted by rising rates.