Event companies prepared for Brexit storm, says survey

The majority of UK event management companies are financially prepared to deal with any Brexit fallout, according to a new survey.

Event companies prepared for Brexit storm, says survey
Event companies prepared for Brexit storm, says survey

The report, which was issued by market analysts Plimsoll Publishing, surveyed 869 event management companies. Of these, 361 firms were rated as financially strong, 94 firms were rated as good, 121 were rated mediocre, 121 were shown to be showing early signs of financial weakness, while a further 172 were showing serious signs of financial weakness.

Plimsoll’s senior analyst, David Pattison, said: "Much like how your doctor would check your health and recommend action, we have done the same with each of the UK’s top 869 event management companies.

"Since the decision to leave the European Union, the market has been dogged with speculation and uncertainty. However our latest research suggests the majority of Event Management firms are surprisingly well placed. Having said that, that’s not to say there will not be an impact, but they are in good shape to cope and respond to any upheaval."

Pattison added: "Nobody at this early stage will know the consequences of the Brexit vote, however companies who are rated poorly have two options: they can hold their nerve and hope to trade their way out, or they can put a survival plan in place and look to consolidate their business. Once you take notice of the warning signs, then directors need to act."

More on Brexit:

EVCOM to launch Brexit strategy event

State of the Industry 2016: Brexit - the MDs lowdown

Brexit reaction: Event planners outline pros and cons of leave vote (updated)

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