55% of event and promo staffing agencies have 6 months left to survive

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The True Impact of Covid-19 on the Event and Promo Staffing Industry

Revealing the truth behind the impact of Covid-19 in their benchmark report, Liveforce gives a voice to the event and promo staffing industry. Following a survey sent to over 6,000 event professionals, this report measures 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!” Greg Lusk, Co-founder, Liveforce

Covid-19 has had an impact on every part of our lives and its lasting effects are a concern for everyone. The events and promo industries have been hit particularly hard, with 55% of event staffing agencies predicted to run out of cash within the next 6 months. Despite generating an estimated £70bn to the UK economy and providing 700,000 jobs, the industry as a whole is in a phase of uncertainty.

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“We are not in the same boat. We are in the same storm! But very different boats!” Michael Wyrley-Birch, CEO, TRO

The aim of the report is to benchmark the industry with a fact-based, emotion-free indication of how professionals in the industry are coping, what has helped thus far and what the future may hold. Find out when the industry is predicted to return to “normal”, how event and promo staff feel they’ve been treated by their agencies and who is likely to go out of business before the market returns. It’s not all doom and gloom! Event and promo staff are as dedicated as ever to the industry and eager to get back to work:

“78% of staff still want to work in the Events and Promo sector despite the effects of Covid-19”

Agencies themselves have had to adapt and offer different services – a testament to a creative and innovative industry:

“75% of agencies are already offering alternative services, and 50% expect to continue to do so post Covid-19”

The long term outlook is positive with most agencies in agreement that a return to “normal” will be in Spring 2021:

“84% are optimistic that their business will survive the impact of Covid-19, although they are under no illusions that things will not be quite the same as they were”

Armed with knowledge Liveforce truly believes it will be possible to weather this storm. The full report is available for download from https://bit.ly/2DE77LX.

Adam is the co-founder and editor of www.eventindustrynews.com Adam, a technology evangelist also organises Event Tech Live, Europe’s only show dedicated to event technology and the Event Technology Awards. Both events take place in November, London.