Why the budget should scare the PR industry
A budget for business, certainly. Small ones. Tiddlers that don’t tend to hire PR agencies.
So business rates are scrapped for shops and cafes. That’s great, but they probably don’t have Finsbury on a retainer.
Small firms get “business interruption” loans of up to £1.2 million. None of which they spend on PR people.
Business rates are also abolished for retail and leisure firms worth less than £51,000. Jolly good, but hire Brunswick these firms do not.
For big companies there was almost nothing. And it seems perfectly likely that there will be lots of big companies going bust over the course of the next turbulent, possibly dreadful, year.
I’m guessing that the invoice from the PR firm is one of the last that the finance director, reluctantly, signs off. Especially if he knows he is running out of cash.
Perhaps it is time to start asking for payment upfront from big clients. Because some of them are about to get a lot smaller.
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