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How Will the Events Industry Recover from Coronavirus?
  • By Dean Finegold
  • Events

The events industry is one the worst hit sectors of the UK economy, with festivals and other similar events coming to a complete standstill over the last few months. As lockdown is set to continue easing, there is a huge cry for help from the government from businesses who may be unable to see the year out.

The National Outdoor Events Association (NOEA) has published a report that claims the average loss during the coronavirus outbreak stands at over half a million pounds.

At SRP, we help support events through our portable toilet hire and shower facilities and we can’t wait for the industry to be back on its feet. With huge festivals now cancelled across the summer, it seems events companies are now gearing up for an even bigger 2021 instead.

Impact of Covid-19 on events

More than 65% of companies surveyed by NOEA are planning redundancies, despite using the government’s furlough scheme. The UK outdoor events industry employs just under 600,000 people, fuelling the need for financial support.

The industry is incredibly dependent on the spread of the virus and transmission levels continuing to drop. Currently, the potential cost of refunds is expected to cost the sector around £800m, and barely any festival or events companies have accessed the Coronavirus Business Interruption Loans Scheme.

Festival Republic, the music events promotion company behind Reading and Leeds, Wireless and Download, has suggested compulsory testing for those attending festivals and other large events, instead of imposing social distancing.

The idea is that if all attendees have tested negative for the virus, the event can go ahead without issue. Of course, this is dependent on changes to government guidelines with regard to home testing.

The future of festivals and events

A survey carried out by ticketing platform Festicket revealed that more than 80% of fans would attend a music festival within 6 months of lockdown being lifted. 35% of those asked would be confident attending within 2-3 months, while 31% said they would be happy to attend immediately afterwards.

This is positive news for helping to revive the industry, as it means so many would be willing to buy tickets for events in 2021 as things continue to get back to normal. Measures such as free cancellation and revised health and safety protocols come second to the quality of the line-up, which is still the priority for many fans.

This week, a petition for the government to help businesses and staff in the events industry will be debated in the House of Commons; it received 153,152 signatures. It could be a huge step for those dedicated to putting on both private and public events, along with further measures announced by the government to lift lockdown restrictions.

Time will tell, but we’re looking forward to supporting events again soon and supplying the best hire facilities available!

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