research .
Listening to our members and the wider sector , we will be continuing to ensure the sector voice is heard and we hope we will make progress in our fight for a tailored recovery package , including a sector specific extension of furlough until the end of Q3 , an extension to business rates holiday , CBILS and Bounce Back schemes .
While painting a bleak picture , our research provides essential reading , and I was grateful to have the opportunity to present evidence of the sector ’ s plight to the newly reformed All-Party Parliamentary Group ( APPG ) for Events last month . The chair , Theresa Villiers MP , was particularly engaged and said they recognised there were inconsistencies and that many organisations within the sector had missed out on support to date .
She acknowledged that the green light , when it comes , will not mean an immediate return to business as usual . Business losses will continue for many months – this is a low margin sector – so turning us back on for limited numbers with social distancing in place will not move most venues into profit , but it will at least start us on the journey to recovery and will help some reduce monthly losses to ensure our sector has a chance to re-build its previously viable businesses .
But that is assuming that the consumer confidence will be there to book meetings . What we do know for certain is that the very best forecast for venue operators is a return to profitability by Q3 of 2022 .
To help the sector survive the next 18 months , we have called for positive and targeted action from the Government , which is what we also continue to call upon the Department for Digital , Culture , Media and Sport ( DCMS ) for . That protection needs to come in the form of a desire from the Government to protect our revenue generating sector that impacts on thousands of other sectors .
Many have questioned – nearly two-thirds in our survey – whether a more appropriate home to represent our sector would be within the business portfolio of the Department for Business , Energy & Industrial Strategy ( BEIS ). While this was raised with the APPG as a long-term consideration as we seek recognition as a key economic driver , I don ’ t believe that now is the right time to be having this particular debate .
While our existing situation may not offer a perfect fit , we have a far more advanced relationship with DCMS than we enjoyed three years ago , thanks entirely to the work of our umbrella organisation the Business Visits and Events Partnership ( BVEP ) and individual trade associations like the mia , the AEO and NOEA . Now isn ’ t the time to derail any of that work , or the relationships we have so carefully built with the department . Instead , right now , we should be firmly concentrating our efforts on the recovery of the sector .
And , despite the current state of the sector , we are optimistic that our vibrant and hugely viable industry will , with the right support from the Government , eventually return to health .
9 Association comment
Above : Jane Longhust , chief executive of the Meetings Industry Association
In preparation for that return and beyond our work with government departments , we are focusing our efforts on delivering intelligent and useful business tools to its members to aid business recovery . This includes the forthcoming launch of our new highly advanced miaTouchstone , which will become an essential platform for venues . It will help venues manage the legal elements of their future RFP responses to address the requirements of risk-adverse corporate clients , while also providing meaningful customer feedback data and benchmarking insight on a regional and national level .
As always , we continue to be here for our members . Should you have any questions or wish to bring anything to the attention of the mia that you feel would benefit the association ’ s work for the sector , then please do feel able to contact us directly .
For updates and the latest developments , please follow @ MIAuk on Twitter .
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