B2B marcomms agencies feeling less confident as a result of Brexit
Over a third (35%) of B2B marcomms agencies say they feel ‘less confident’ about their future growth following the UK’s decision to leave the European Union, according to B2B Marketing’s B2B Agencies Benchmarking Report 2016-17.
The report, which surveyed almost 100 B2B marcomms and PR agencies, also revealed just 4% of agencies feel ‘more confident’ about the future, while 61% said ‘there’s no change’ in how they feel about the growth of their agency since the EU referendum in June 2016.
Furthermore, 19% of agencies revealed that both their financial results and their business growth had already been negatively affected by the outcome of the referendum.
Despite some agencies' concerns about the future growth of their own businesses, the majority – 62% – said they believed the market for B2B agencies is currently 'good', with an additional 26% describing it as 'strong'.
In the 12th edition of the annual report, UK B2B marcomms agencies were found to have experienced 17% year-on-year growth in average gross income since 2015-16, having increased to £4.8m in the last financial year.