PRCA survey reveals increase in budgets compared with last quarter
New figures from the PRCA reveal that budgets of UK PR consultancies have marginally increased compared with the previous quarter.
The survey of 82 managing directors and CEOs shows that budgets have increased marginally by a net 18 per cent, four per cent higher than the previous quarter’s increase.
Almost two-thirds (63 per cent) of new business was also found to be coming from new clients as opposed to existing ones and 61 per cent reported ‘busy’ or ‘very busy’ levels of new business.
“Stability and resiliency are becoming the key themes of our recovery,” remarked PRCA director general Francis Ingham.
Almost half (44 per cent) of the PR leaders surveyed said they were now ‘optimistic’ about the UK economy’s prospects with 32 per cent claiming they were ‘optimistic’ about the UK PR industry. Those polled were also optimistic about their own consultancy’s outlook with just under half (49 per cent) thinking about increasing staff numbers next quarter.
10 per cent also said they were expecting to increase their use of freelancers in the next quarter, providing good news for that side of the market.
Ingham added that businesses must “be confident in using the encouraging signs of the UK economy to our advantage, because other marketing disciplines will not wait to take what is up for grabs.”