The Events Industry is Struggling
The statistics are staggering for Wisconsin alone, yet Nationwide this is and remains a huge issue for the recovery of the events industry. Small businesses, hotels, restaurants, DMC's,AV companies, staging, etc. need Government help to stay afloat.
*The Wisconsin Hotel & Lodging Association reported from an internal survey that an estimated 47% of lodging facilities could close within 12 months without any loan or grant assistance. The survey also indicated that over 50% of Wisconsin hotel staff remains furloughed or laid off.
*Prospects for Wisconsin restaurants looked slightly better than the nationwide number — 37% — of restaurants that reported they were unlikely to still be operating in six months if no additional relief is available from the federal government.
*The Live Events Coalition recently surveyed businesses across the country, receiving over 1200 responses. The shocking truth that comes from asking just one question: “How much longer can you hold on and keep your business afloat, without further aid from the government?”
7.44% My business has already folded.
12.43% My business can make it less than another 30 days.
27.56% My business can make it for 30 to 90 more days.
20.85% My business can make it for 3 or 4 more months.
27.06% My business can make it for 5 to 9 more months
5.23% My business can make it from 9 months to more than a year.
4.66% My business will not be undone by COVID-19.
With federal relief efforts stalled and live event workers & businesses missing out on up to $1 trillion in income due to COVID-19 shutdowns, the industry is finding that the majority of its businesses will go under in the coming months, unless the stalemated U.S. Congress is able to deliver the next relief package soon. Continue to write to your Congressperson and let them know how important events are to the economy and how we need help now!
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