A new survey of 6,000 event professionals by UK staffing platform, Liveforce claims the impact of Covid-19 could see 55% of UK event and promo staffing agencies go to the wall.
Liveforce’s benchmark report attempts to measure the business impact of coronavirus, analyses recovery strategies and forecasts the future for UK event and promo staffing agencies.
“No longer able to sit by and wait for things to unfold, our team at Liveforce wanted to provide a degree of certainty in an uncertain time – even if those certainties have a negative starting point,” said Greg Lusk, co-founder, Liveforce.
Events and promo industries have been hit particularly hard, with 55% of event staffing agencies predicted to run out of cash within the next six months, according to the report.
Despite generating an estimated £70bn to the UK economy and providing 700,000 jobs, the wider UK events industry as a whole is in a phase of uncertainty.
“We are not in the same boat. We are in the same storm. But very different boats,” said Michael Wyrley-Birch, CEO of events agency TRO.
With its benchmark report, Liveforce attempts to provide an indication of how professionals in the industry are coping, what has helped thus far and what the future may hold. The report indicates 78% of staff still want to work in the events and promo sector despite the effects of Covid-19.
The report, based on survey questions sent to 6,000 event professionals, is available for download here