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Complete 12 page APA formatted essay: To examine what entrepreneurial activities Abbey properties UK used to survive the recession from 2007.In this paper, we are going to examine what entrepreneurial
Complete 12 page APA formatted essay: To examine what entrepreneurial activities Abbey properties UK used to survive the recession from 2007.
In this paper, we are going to examine what entrepreneurial activities Abbey properties UK used to survive the recession from 2007 – 2010. The main objective is to find out what challenges business, then real estate companies face during and as a result of the recession. The paper will as well look at entrepreneurial strategies put in place by small real estate companies in the UK to counter effect of recession and provide a model that can aid the understanding of entrepreneurial activities practices by real estate firms.
Abbey Properties is a big, well founded, independent real estate agency. The agency has been in operation for over 27 years covering areas in North West and Central London. Abbey Properties specializes in residential sale, residential lettings of properties, residential/commercial development of houses, full property management and management of overseas client accounts. The agency has a team of 17 employees, always focusing on customer service inline with the agency’s aim “to take the stress and anxiety out of your property transaction” (Abbey Properties, 2011). More so, the employees are friendly and well experienced ready to help the clients before and after business transactions to ensure that the clients receive high quality service. Abbey Properties deals in all types of property and promises to offer unrivalled services (Abbey Properties, 2011).
Market experts in the real estate industry projected that in 2008. nearly 15,000 estate agents lost their work in UK due to recession (Turner 2008. 65). The expert went further to predict that the industry would loss about 40,000 jobs in a period of five years from 2008 (2009-2013) (Newman, 2011. 186). According to the Centre for Economists and Business Research (CEBR), the years during recession and even after recession were difficult ones to the industry. The only relief for the industry is the understanding that, whereas property
