Industry confidence low as PR budgets squeezed by government cuts Friday 24 September 2010 PDF Print Only 32% of PR agencies had confidence in keeping their public sector clients in the face of future cuts Confidence among PR agencies with public sector clients has plummeted in the light of government cuts, research by Daryl Willcox Publishing has found. A survey of 100 PR agencies showed 85% of those with public sector clients said budgets were being slashed, while 47% had lost clients as a result of cuts. The government axe is likely to have a major impact on the PR industry. Over half of agencies with public sector clients rely on the sector for over 30% of their business. “The impact on the PR industry by recent and future government spending cuts cannot be underestimated,” said Daryl Willcox, chairman and founder of Daryl Willcox Publishing. “The UK PR industry is seriously exposed to the government's attempts to curb public expenditure. PR agencies will need to find ways of making up for lost revenue otherwise they will have no choice but to cut back their cost base.” Only 32% of PR agencies had confidence in keeping their public sector clients in the face of future cuts. All respondents who had lost their complete portfolio of public sector clients because of the cuts (eight agencies) were not confident of gaining any new ones. Prior to the cuts, five of these agencies said that public sector clients made up 10% of their business. The remaining three agencies said public sector clients accounted for 20% to 30% of their business. About Daryl Willcox Publishing Daryl Willcox Publishing (www.dwpub.com) provides information services for people in journalism, public relations and marketing. Launched in 1997, the company connects media professionals to create opportunities for timely, relevant press coverage. Products include the Response Source Journalist Enquiries System, SourceWire and Response Source press release wires, the Freelance Journalist Directory and the FeaturesExec media database. Over 2,500 companies use Daryl Willcox Publishing's media relations services, including around 120 of the top 150 PR Companies. For further information please contact: Richard Gurner / Claire Armitt flannel 01273 779492 email@example.com / firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of ResponseSource in the following categories: Business & Finance, Media & Marketing, for more information visit http://pressreleasewire.responsesource.com/about.