Suppliers on a knife edge

Updated on April 18, 2020 in Suppliers
2 on April 14, 2020

Sixty percent of the UK’s events industry’s supplier base is facing collapse within three months, unless event businesses receive further support from the government, according to an online survey carried out by the Events Industry Forum (EIF) and Business Visits and Events Partnership (BVEP) and co-ordinated by the Production Services Association (PSA).  

Of the 1,490 businesses surveyed from all sub-sectors of the events industry between 3-7 April, 6% say they are unlikely to survive until the end of April as a result of the impact of Covid-19. 

The results have been published a week after the Department for Culture, Media and Sport’s tourism minister, Nigel Huddleston MP, said that events can “kick start” the economy when the UK emerges from the Covid-19 crisis.

According to the survey, only 1% of respondents have been successful in applying for the government’s Coronavirus Business Interruption Loan Scheme. It has also been revealed that despite the chancellor of the exchequer indicating in the House of Commons that event organisers and the supply network behind them should be eligible for leisure and hospitality business support grants, according to the survey most which have applied have been turned down by local authorities, which are running the scheme. 

https://conference-news.co.uk/coronavirus-updates-business-news/60-events-industry-suppliers-face-collapse-survey-reveals

What are your experiences?

 
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0 on April 14, 2020

As an events supplier I am in the same boat as everyone else, the industry has pretty much disappeared overnight. I can make it through as we have healthy reserves, but I know a lot of people I work with are in trouble. Thing is, everyone needs government support, and I don’t think it is going to be possible for the government to foot the bill for the entire country indefinitely.

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0 on April 18, 2020

Thanks for adding a post about suppliers. As mentioned before, the industry has disappeared overnight, I have had cancellations and no new bookings for a while and another event is going to be virtual. I have no income and will not until June. I know this is the situation for everyone. My team are not going to be getting any money either because they are paid by the session and this upsets me. After the end of quarantine I am hopeful that the industry can pull together and recover quickly. As usual most of the interventions that were announced were  just that an announcement. A lot of piffle and wind.

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