The rising cost of renting property in some of Britain’s most desirable areas is stifling growth across the events industry.
This warning comes courtesy of JJ Jackson, managing director at event-speaker bureau Performing Artistes, who says George Osborne’s failure to tackle the business rates charged by property owners in his latest budget works very much against the lower end of one of the nation’s biggest industries.
Mr Jackson highlights that Britain is a “global leader” in events, but says the industry is failing to live up to its potential due to the high charges imposed on renting decent property.
“Most event agencies I know started in somebody’s back room,” he told meetpie.com. “It can constrain growth because, if you want to expand and take on more people and move from the outskirts into town, it suddenly means you have to pay all the extra rates as well.
“It can be a limiter to growth,” he explained.
Mr Jackson said this issue represented ‘a glaring omission’ in the chancellor’s budget and said it was a “real shame” that the coalition isn’t more willing to help companies get ahead in the flourishing events sector.
Internationalmeetingsreview.com says the expert’s comments come in light of a similar delivery from Eventia-IVCA CEO Marco Forgione, who says the UK government should be doing more to help smaller businesses succeed.