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Almost 10% of practices expect to go bust because of covid-19
Almost three-quarters expect profits to fall, as more staff are furloughed
Nearly 10% of practices do not believe they will survive the fallout of the covid-19 pandemic, according to the latest RIBA Future Trends survey.
The May update has revealed that 73% of architects expected profits to fall over the next 12 months and that of those 8% think their practice is unlikely to remain viable.
The effect covid-19 will have on future tender prices is still unclear, with 32% of respondents expecting them to increase, 21% anticipating a decrease and 40% saying they don’t know.
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