Architects need an plan in recessions
Problems with the housing market have been well documented and the effect on builders, plumbers, electricians and estate agents are known to all. Architects to have been affected. For those settled in their property, growing families often mean structural changes are required to the family home, to accommodate a larger brood. In order to affect these changes, the assistance of an architect is required to put plans together and to get any necessary approvals from the planning authorities. With the availability of credit drying up, it means that those who did wish to borrow to make changes to property may find it difficult to do so. If money cannot be borrowed, or a family decides to not spend and save instead, then the architect will not be engaged and the building will not take place. It is the same in industry. Business which may be looking to expand and develop their premises, may be reluctant to do so in harsher times. The knock on effect is that Architects whether they work in practices with others or on their own, will be struggling to earn fees. If they cannot earn fees then financial distress may follow. If the architect is an individual, then debt solutions may come in the form of debt management, or an Individual voluntary arrangement or ultimately bankruptcy. If a number of architects work together, they may do so as a partnership. The partnership can be saved by a partnership voluntary arrangement or an administration. If you are an architect reading this and you can recognise the scenario, please take professional advice sooner rather than later. Information provided by Steve Thatcher of Help With Debt (UK) Limited and total debt solutions company. For all further reading see http://www.helpwithdebtuk.com for personal contact email sthatcher@helpwithdebtuk.com For Steve's thoughts see http://steves-debt.blogspot.com Finally if in the UK and you need a friend to speak to call 01162171406 About Author Steve is a qualified solicitor who specialises in debt solutions for businesses and companies alike. From pre-pack administrations to walk through bankruptcys he is always free to talk to. Disclaimer: Article submitters are solely responsible for the content of their articles. ArtiLib can't be held liable for the contents of the articles. Report Abuse | Browse By Category |
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