Events industry severely hit by COVID-19
A survey, conducted by the HRIA, shows how severely impacted the events industry has been during the pandemic.
The association surveyed members who own or have part of their business in the events rental industry to gauge the impact of the pandemic on their businesses.
96% of events businesses had declined by more than 50%.
While the results were not surprising, its useful to gather empirical data in order that the HRIA can lobby for additional support from Federal and State Governments. Its also important for the association to understand where best to focus it’s efforts moving forward.
“Things will look a lot different in the short term, and we’re conscious of doing all we can to help members get through this period.” said HRIA CEO, James Oxenham. “Its encouraging to see the lock-downs being eased, which will be essential for HRIA members to get events back on track. One of the biggest challenges for the events sector remains the 4m2 rule, which the HRIA is working on from both a safety and political perspective”
A 1/3rd of members believe it will be 3 years before events will be up and running again
Only 7% of members think events will be open again within 6 months, while 20% believe it will be up to 5 years in some cases. In terms of the volume of events that have so-far be re-scheduled, nearly 80% of members has seen fewer then a quarter of their events re-scheduled.
The HRIA will re-survey members, so see how much the dial has moved as boarders are opened and lock-downs are eased.
Diversification is key
From the survey samples, the members experiencing the least impact were those who businesses crossover into industries that have been identified as essential.
Construction is the obvious one; HRIA member No Fuss Event Hire has seen opportunities following State and Federal government stimulus packages.
“Our priority was to keep our staff and therefore retain the integrity of our business so we aimed to pivot, looking to other industries to ensure the longevity of No Fuss.” said Bec Williamson from No Fuss. “We have already begun to see small success in the short time we have changed our focus and intend to continue to develop this new division of our business post-Covid.
We have aligned ourselves with the Construction industry and have seen particular success by installing Temporary Roadway’s for Construction Company’s installing modular buildings, or completing major works within Victorian Schools. Given the Victorian Government’s recent announcements pertaining to the Construction Industry with a solid focus on School upgrades, we see a genuine opportunity to create shared value – not only to continue to transform our Business, but by providing access to work sites throughout the winter months via our Temporary Roadway system.”