There is no doubt about the fact that recession has affected all kinds of businesses. The air-con business is no exception. In Hertfordshire the people have been predicted a long & extremely hot summer. Now this may give you an idea that the air conditioning industry is going to have a good time. However, things are not as rosy as they seem to be.
Many Hertfordshire air conditioning companies are struggling at present. The basic reason behind this is that air conditioning is a costly product.
Let us imagine that you own a large old building in Hertfordshire. You have rented this building & your tenants are demanding for cool air in hot summer. Now how would you deal with this situation? This may turn out to be an expensive affair. Banks may not provide you the money without proper guarantee. In case, you neglect this situation, your tenants might opt out of the building for a more comfortable place.
On the other hand if you own a commercial building, you still share same concerns, your employees would like to have a comfortable environment to work in. However, this may require investing huge capital.
This makes it more difficult for a business such as HVAC that require raking in more money in summers. The economic condition makes them suffer just as other industries across the globe.
This situation has made many Hertfordshire air conditioning maintenance companies seek insolvency protection through administration. This process is ideal for the situation as it will help many air conditioning companies taking stock of the situation. It may also re-align requirements of staff, alter stock purchase to carry less stock & retain more cash. It will also facilitate a proposal to be given to creditors in order to make sure that the business enjoys continued survival.