As the UK heads into another national lockdown on Thursday 5 November, the Government has been warned that more than 525,000 event professionals' jobs are at risk and three out of four companies could fail to survive beyond next February.
UK business events are operating under tighter restrictions than any other developed nation and the impact on around 774,000 event professionals was laid bare in research presented to ministers by the #WeCreateExperiences campaign.
The findings include:
- 77 per cent of events and exhibition businesses have paused trading completely at some point since lockdown
- Businesses experienced an average 89.5 per cent year on year fall in revenue in August
- Four out of ten firms have 75‐100 per cent of staff on furlough and the end of the scheme is likely to lead to 170,000 immediate job losses
- 80 per cent of events and exhibition firms were ineligible for the grants to retail, hospitality and leisure businesses based on rateable value and only 27 per cent were able to access Bounceback loans
- 44 per cent of events and exhibitions companies do not believe they have the financial resilience to survive until the end of November, rising to 76 per cent by the end of February 2021
Simon Hughes, co‐founder of the #WeCreateExperiences campaign, said: “The message is clear: whether it is engaging with staff, launching products or delivering content at conferences, the industry has invested in the best technology and management to ensure they can be held safely. Live events will return in 2021 and there will be pent‐up demand. Businesses who commit budgets to events in 2021 will reap the rewards and steal a march on their competitors.”
The enforced restrictions on the UK’s event professionals contrasts with the approach in many other countries where business events have been allowed to go ahead. Since March, 845 major exhibitions have been cancelled, amounting to £8.6bn of lost economic impact. With no road map in place for events to resume here, it is estimated by the Events Industry Board that the UK will lose £31bn in visitor spend if business events do not resume before the middle of 2021.
The industry has been repeatedly calling for urgent, short‐term financial support, including a sector-specific Job Support Scheme, business rates relief and sector specific bridging grants until restrictions are lifted, as well as a government‐backed indemnity insurance scheme to support confidence in the market. Industry leaders also want to work with government to devise a roadmap for reopening, with a clear indication of the evidence that will be used to dictate this schedule.
Industry leaders have outlined a comprehensive series of safety measures that have been put in place, going beyond mandatory protocols and utilizing the latest technology, including touch‐free registration on arrival, one‐way systems, rapid testing and air filtration to create bio‐secure venues. They are working on plans to use business events for mass same‐day testing trials.
M&IT editor Paul Harvey is a journalist with more than 15 years of experience. He began his career in the local press, working for various titles across the north. Since joining M&IT in 2013, he has become a trusted and respected voice in the sector, championing event professionals and reporting on all aspects of the events industry for the brand.
