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Two-thirds of EVCOM members expect revenues to fall post-Brexit

Members are unsure of effects of Brexit, but want trade body to promote services to international markets
19/07/2016

EVCOM members have responded with caution to the UK referendum result, but want to get on with the business of promoting their services in international markets and lobbying government agencies. 

In a survey carried in the ten days after the decision to leave the European Union, more than half (55 per cent) of the industry association's members said they were unsure about the impact on the sector and wanted more information.

When asked what action EVCOM should take in response to Brexit, members showed a clear preference for promoting UK members’ services to international markets, as 43 per cent gave it top priority. Lobbying (36 per cent top priority) and promoting international members services to UK markets (31 per cent top priority) also scored highly.

Steve Garvey, EVCOM CEO, said: ‘The EVCOM referendum survey shows a clear call to action for the live and visual communication industry. There is plenty of concern and confusion out there, but industry professionals need to promote a positive message to all international markets that the UK is very much open for business and continues to offer some of the best skills and resources globally. 

“While the business environment may seem more challenging, we believe new opportunities will open up and it’s our role to help members find them."

Respondents took a ‘wait and see’ attitude to recruitment, with 81 per cent planning to maintain the same staffing levels, but 17 per cent taking a more cautious view and expecting to reduce permanent staff. 

A majority wanted more time to form a view as 55 per cent were unsure about the impact on the industry and wanted more information, while 25 per cent were optimistic or cautiously optimistic. 

The uncertainty was reflected in a 50/50 split between those who would change their business plan as a result and those who would not. 

50 per cent expected the profitability of their business to be lower in 12 months’ time and just 6 per cent thought it would be higher. Revenues were also expected to fall by 64 per cent of respondents while 8 per cent took a more positive view of revenue growth.


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