COVID-19: Recent Industry Findings

As the principal association for the meetings and events industry we have been engaging with our members to find out more about how COVID-19 may be having an impact upon organisations.

 Social Distancing Survey - 9 June

 

As part of our continued liaison with the Department for Digital, Culture, Media & Sport (DCMS), a second social distancing survey was developed and findings supplied to government on 9 June 2020 to contribute to their intelligence.

View the findings report

Research report - May 2020

 

Following an urgent request on 28 April 2020 to provide information to DCMS, a survey was prepared to ask our members to consider the effects of social distancing on their businesses.

View the findings report

On 15 April 2020, we announced that of responses to a recent survey to the industry: 

  • Almost all (98%) responding organisations have adapted their approach to managing cancellations and postponements where necessary. 

  • 59% of responding organisations have events scheduled to take place in June, with many (87%) having events scheduled in the calendar for the backend of 2020 (October-December). 

  • 86% of responding organisations feel the government hasn’t offered enough support for the industry, with:
     - 68% wanting greater recognition of the events sector
     - 55% wanting more flexible furlough terms provided by government, such as giving employees the option to volunteer back to the business.
     - 35% wanting faster access to grants

  • 46% of responding organisations highlighted that they could survive with little or no income for greater than 90 days, while 12% say that cannot survive beyond 3 weeks.

  • 12% of responding organisations have applied for a loan under the Government’s Business Interruption Loan Scheme, with a 50% success rate in those to have received a response (10). 

  • 60% of responding organisations highlighted that more than 50% of its organisation’s staff have been furloughed, while 18% highlighted that no staff were yet to be furloughed. 

  • 95% of responding organisations highlighted that no redundancies have yet been made within their organisation.

  • 62% of responding organisations state that payments to booking agents are being processed according to the agreed terms, while 7% have increased the day terms of payments to agents and 12% have withheld payment due to the organisation being closed. 

  • 52% of responding organisations have highlighted that contracts have had to be cancelled with suppliers, while 24% have had to withhold payments and 55% have had to request more flexible rates. 

Developments in findings will be highlighted accordingly. 

*All published results are from surveys in which more than 100 responses have been received.