3 / 8
July 2015
| Business World
87
generations, decades, and levels of expertise.
As interest rates increased from 18 to 21%
in 1980/81, Bonney realized that the hous-
ing market was coming to grinding halt. A
pivot was crucial and necessary to sustain the
business and Bonney’s own livelihood, so he
began taking on commercial construction
projects. From the fire hall in Kiwispan to
the police station in St. Andrews, the move
was made and it paid off.
“Around 1990 or so we formed another com-
pany and started getting our own equipment
– excavators, trucks, gravel pits, strainers and
dozers – cause we were spending money on
developing streets,” Bonney said. “We got
our own equipment and were able to keep
busy working on residential and commercial
projects because we didn’t have to wait for
machinery.”
The shift from residential to commercial