Rhythm Careers<\/a>, told the AJ that concerns over the financial status of an architectural practice \u2018has become an increasing priority for candidates when seeking their next role\u2019.<\/p>\nNagle revealed that tracking the financial reporting of a practice on Companies House has now replaced ratings on jobs website Glassdoor as a the third strongest third-party reason not to take a job role.<\/p>\n
Despite government\u2019s focus on stimulating the industry, particularly in housebuilding with an ambitious target of 1.5 million new homes, growth in the construction sector has stalled.<\/p>\n
Data from the RIBA in September described a \u2018softening outlook\u2019 among architects in the previous economic quarter, contrasting with more positive figures in the spring and summer months, which had given reason to speculate that the growth flatline was coming to an end earlier this year.<\/p>\n
The RIBA\u2019s Future Workload Index fell to the end of August (from +9 in July down to just +2) while workloads were an average of 13 per cent lower than this time in 2024.<\/p>\n
These figures were put down to a sharp decline in the private housing sector, which is the largest revenue source for smaller practices, according to the Index report.<\/p>\n
At the same time, industry analyst Glengian reported that housing construction starts fell 18 per cent compared with the previous three months, finishing 16 per cent below 2024 levels.<\/p>\n
It also said detailed planning approvals for all projects in the three months to August had nosedived 48 per cent against the previous quarter and fallen 17 per cent on the previous year.<\/p>\n
Across the UK, the Begbies Traynor research found that \u2018significant distress\u2019 figures rose by 15 per cent, suggesting that architecture practices had been hit worse than the average for British businesses.<\/p>\n
Julie Palmer, Managing Partner at Begbies Traynor, emphasised the importance of the upcoming budget in relieving \u2018pressure and uncertainty\u2019 for UK industries. He pointed to a \u2018tricky economic climate, rising costs and skills gaps\u2019 to explain the downwards trend and that is affecting the construction industry in particular.\u00a0<\/p>\n
Palmer continued: \u2018In this climate there will be restructuring, just as much as there will be opportunities for larger companies to give the ideas and assets of businesses that perish a second chance through acquisition and rescue.<\/p>\n
\u2018The next month is crucial for the UK economy and construction industry. To carry out work, deliver jobs, ideas, productivity and growth there needs to be a healthy balance of small, medium and large companies. Businesses across the economy need to see confidence improve \u2013 this Budget is crucial.\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"The latest figures from insolvency specialist Begbies Traynor\u2019s Red Flag Alert report reveals that 3,409 businesses involved in…\n","protected":false},"author":2,"featured_media":243005,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[6225,6485,6486,1120,96,56,54,55],"class_list":{"0":"post-243004","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-arts-and-design","8":"tag-arts","9":"tag-arts-and-design","10":"tag-artsanddesign","11":"tag-design","12":"tag-entertainment","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/243004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=243004"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/243004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/243005"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=243004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=243004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=243004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}