My thoughts on this in The Drum today here. Mark Iremonger, managing director, Nucco: “Having worked through three recessions, this is the toughest trading environment I’ve encountered. Most of our industry is made up of small creative services businesses that will be under pressure. With so much uncertainty, agencies have sloughed off unnecessary costs to hunker down and protect their core. This means there will be acquisition opportunities for those who can spot high-performing businesses and leadership teams; investors will need deep pockets and foresight to back these businesses for future rewards. There may also be an opportunity for some leadership teams to take back control from holding companies through management buy-outs.”
