Industry Analysis & Industry Trends
The Architectural Services industry has endured a tough five years due to fluctuations in downstream building construction markets and rising competition. Despite this, an increase in residential construction over the past five years and positive business confidence over the three years through 2015-16 have driven industry revenue growth. Industry revenue is expected to increase by an annualised 2.0% over the five years through 2016-17, to reach $7.2 billion. However, the tightening of regulatory lending standards over the later part of the five-year period is anticipated to decrease residential construction. Due to the tightening of lending standards, revenue is expected to decline by 2.1% in 2016-17... purchase to read more
Industry Report - Starting a New Business Chapter
The industry has few significant legislative barriers to entry, other than the need to be registered as an architect in each state or territory of practice. Successful registration usually requires a tertiary qualification in architecture, which can take up to five years to obtain. The completion of two years practical experience and an architectural practice examination are also necessary before registration.
Many architects are sole traders and operate their businesses from home or in a shared office. Establishing a practice involves limited capital costs, which are similar to those of establishing any small business, including small capital outlays for rent, computers and software.
Price is an important aspect of industry competition... purchase to read more