Following the dramatic decline of activity caused by the recession, the number one objectives for the next 12 – 18 months were re-building reserves and resources while returning to profit.
And while the sector feels significantly more positive today about 2010 than it did eight months ago, there was still considerable uncertainty about the impact of a host of economic, political and fiscal issues that will prevent them from putting their foot on the gas.
Event Director Henri Cash comments:
“It is evident that the industry – both suppliers and agents – very much see the need for a London-based, industry event and look forward to Agency Expo’s return.
"However, with the growing concern about job security and more rigorous credit assessments, set alongside uncertainties surrounding the stamp duty holiday, the rise in personal taxation and the forthcoming general election, the attention of agencies was clearly focused on their main objectives, first investing in people as business permits.”
“When the ‘event holiday’ was first announced in February 2009, the feeling was that this would help suppliers divert budget to the areas more in need. It is our view that this remains the case for the next 12 months.
"We believe that in 2011 the market will begin to improve considerably as the foundation for widespread business resurgence becomes more embedded and the direction of government policies becomes more certain. In turn agents and their suppliers will at last be able to benefit from real confidence, increased spending and new technology developments.”
The date and venue for London’s 2011 Agency Expo will be announced next year.
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