REPORTED INCREASE IN GROSS REVENUE FOR 2017: More than two-thirds of businesses reported an increase in gross revenue in 2017 relative to 2016 (67 percent), with half of those reporting that revenues increased by more than 10 percent (50 percent). Design and build firms were most likely to have seen revenue gains relative to 2016 (68 percent), followed by architects and interior designers (60 and 59 percent, respectively).
CONTINUED GROSS REVENUE GROWTH EXPECTED IN 2018: The majority of businesses are optimistic about continued gross revenue growth (75 percent). Design and build firms and interior designers are most bullish in their expectations for increased gross revenue in 2018 (91 percent and 83 percent, respectively), followed by architects (63 percent). To support that growth, firms plan to invest in more marketing (61 percent) and bring in larger budget projects (54 percent).
INCREASE IN REVENUES IS NOT WITHOUT CHALLENGES: Over a quarter of businesses reported they had difficulty in finding prospective customers in 2017 (30 percent), along with a surge in the cost of doing business and concerns over a weak national economy (27 percent each). While managing customer concern over cost continues to be a challenge (37 percent), the report shows a two percent point increase from the previous year (35 percent). Additional costs of doing business were felt most significantly by design and build firms (43 percent), whereas architects were most concerned about a weak national economy (37 percent).
Download the Full Report
Download the Global Report
Download the 2017 Report
CONTINUED GROSS REVENUE GROWTH EXPECTED IN 2018: The majority of businesses are optimistic about continued gross revenue growth (75 percent). Design and build firms and interior designers are most bullish in their expectations for increased gross revenue in 2018 (91 percent and 83 percent, respectively), followed by architects (63 percent). To support that growth, firms plan to invest in more marketing (61 percent) and bring in larger budget projects (54 percent).
INCREASE IN REVENUES IS NOT WITHOUT CHALLENGES: Over a quarter of businesses reported they had difficulty in finding prospective customers in 2017 (30 percent), along with a surge in the cost of doing business and concerns over a weak national economy (27 percent each). While managing customer concern over cost continues to be a challenge (37 percent), the report shows a two percent point increase from the previous year (35 percent). Additional costs of doing business were felt most significantly by design and build firms (43 percent), whereas architects were most concerned about a weak national economy (37 percent).
Download the Full Report
Download the Global Report
Download the 2017 Report