NJ Architects has long operated as a partnership of sorts – driven by the ambition, vision and passion of its founder and principal Nick Jacob and lead associate Shaun Soanes. Now, with a host of exciting plans for the future, it is set to make that partnership official.
Today marks a significant point in the business development of NJ Architects.
As of April 1, we will officially become a Limited Liability Partnership – a move which will support the growth of the company and allow new partners Nick and Shaun to make operational decisions with more agility.
In addition, it will bolster plans to expand, helping us to attract new talent as well as provide greater opportunities for existing staff.
What does it mean?
Partnerships are very common when two individuals work together to build a business. An LLP creates a great structure for any company that currently operates with a small and consistent number of members who each make comparable contributions. Furthermore, this type of partnership structure – no shares, shareholders, or directors – allows for greater flexibility than any other.
LLPs have existed in the UK since 2000 and were designed to promote the growth of partnerships by providing limited liability and a separate legal identity, while maintaining the tax treatment received by partnerships. They also have other key benefits, such as sense of ownership in the business and flexibility in management and pay structures.
So why switch now?
Well, the truth is our practice has been a partnership of sorts for many years now. After all, while Nick Jacob founded the company in 1996, he has worked with Shaun Soanes, who provides expert advice on conservation and historic buildings, challenging contemporary builds and larger projects, throughout.
The pair have worked together to grow the company from humble beginnings to a multi-award winning firm of professionals, positioning it as a leader in the market place. The main driver for the change to LLP therefore has been the ability to grow the ownership of the practice in a structured way and create the opportunity for individuals to take the initiative. This should lead to new areas of growth as well as generate a sense of pride among the senior management team.
The future is bright
Becoming an LLP requires vision from the top. But it is also about supporting people with drive and passion to grow the business from the bottom up.
Nick Jacobs said: “We are very excited about the future and are in a robust position to support our clients as we grow.
“This is our 20th year and in the last 12 months we have received several industry recognitions for various projects, which is hugely rewarding.”
The firm received a ‘Highly Commended’ award for its work on The Avenue Theatre at the RICS East of England awards, and another commendation from the SJCC awards for St Lawrence Church, Ipswich.
We were also commended by the Georgian Group, a charity for the protection and appreciation of British architecture of the period, for their work on Darsham House.
Shaun Soanes said: “We plan to continue delivering work to the highest of standards, with the support of our fantastic team and clients.”