Outlook bright for UK independent agencies in 2018, says report
Despite continuing uncertainty within the UK business market as Brexit negotiations enter a critical phase, confidence remains high among UK independent agency owners according to the latest survey results from accountancy firm The Wow Company.
The seventh annual BenchPress Report has been published, revealing that many independent agency owners believe their businesses will grow in 2018, regardless of the wider more volatile market conditions.
The report analyses data supplied by owners of a variety of agencies highlighting key statistics, trends and industry benchmarks.
Most agencies surveyed believed that they will grow within the next twelve months, with 75% forecasting a minimum growth percentage of 11% in sectors such as creative, digital, media and marketing.
This, according to the BenchPress Report, will see a positive effect on the job market with the report suggesting that 65% of agencies polled intended to recruit this year, with an additional 46% of agencies planning on giving wage increases above the rate of inflation boosting confidence within the market.
Peter Czapp, co-founder of The Wow Company, said: “The BenchPress Report is all about reflecting the reality of agency life across a wide range of sectors; capturing their successes, challenges and expectations of the year ahead. We are committed to sharing industry trends and best practice for the benefit of the nation’s agency community.”
The full report can be downloaded for free.