Adapt and diversify or lose out to competitors

Monday, October 27, 2014

Architects design buildings for people to inhabit, forming a direct relationship with the city's population, culture and habits.

In any developing countries, where the demand for fundamental buildings and infrastructure is high, it usually gives rise to a boom in the industry, both mass market and institutional components.

However, as a city gradually transforms and matures, the industry will enter into a low-productivity and self-correcting period, giving rise to only minor developments and improvement projects.

As the situation stands, the nature of the life of an architect is no different to that of a nomad.

But architecture is a highly specialized and location- dependant profession. The limitations for architects entering into foreign markets are often unfair and harsh due to the protective policies imposed by the government, such as the registration of a license to practice, the taxation system and certain handicaps in competition.

Of course, there are advantages in exploring new markets to diversify risk. However, before embarking on such an endeavor, one must first understand some crucial steps.

Limitations: is the local government in favor of foreign professional practices, and what are the taxation, company registration/qualification prerequisites, and the architecture institute and open/invited competitions entry requirements?

Competitive edge: what is the core strength of a foreign architect over local competitors?

Opportunity: are there any secured potential clients, a sustainable project stream, whether with foreign or local clients?

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Adapt and diversify or lose out to competitors