In an article today in the Washington Post, chief economist at the AIA (American Institute of Architects), Kermit Baker spoke to the current state of the construction industry and when it will start improving. Since architectural firms are still seeing a decline in business, that means the construction industry is still struggling. Yes - I think we all know this.
Baker explains that they are seeing lots of trouble stemming from financing problems. Big projects are being denied. Many architectural firms aren’t exactly losing clients, but projects are being put on hold - indefinitely. Read article here.
The point is the construction industry will start improving, but we need to hit recovery mode first. As always, my advice for construction companies is make the most of this time by focusing your efforts on doing business smarter. Make your day-to-day routine more efficient and figure out how to make your company more profitable. I think investing in construction software is a step in the right direction. If nothing else, take the time to research construction software and see if there’s a good fit for your needs. You might be surprised at how much it can help your business now and give you a competitive advantage when the construction industry does bounce back.
Tags: AccuBuild construction software, AIA, architectural firms, business tips and advice, competitive advantage, construction industry, economy, getting ahead, Josh Stearns, Kermit Baker, news, Washington Post
