Should we be worried about the events sector? Due to the coronavirus epidemic, the biggest trade fairs around the world have been postponed or even canceled. A heavy blow for the organizers and especially for the French GL Events.
Invited to the set of Good Morning Business, his boss nevertheless puts into perspective the direct impact on his group, which posted excellent results in 2019.
“We are not worried about cancellations, we are worried about the capacity of the sector to survive at the level of its own cash flow and to ensure that all the small businesses and all the suppliers of this sector can deliver the services and pass the cash milestone “underlines Olivier Ginon. “Our group, we know very well that, in any case, in three months, we will still be there.”
An emergency fund?
“There will be breakage of the fact that the small companies, from the financial point of view, will not be able to hold” he continues. “Remember, in the morning when you arrive at an exhibit, that all night you have small businesses cleaning up the exhibits (…) these people are not going to be paid, or to be poorly paid.” And hammer: “The government, on this side, must make an emergency fund.”
Moreover, these postponements and cancellations could well lead to a small revolution for companies who finally managed to do without the salons.
A lasting phenomenon? “I don’t believe it at all” says Olivier Ginon. “We need to meet, the world is moving! This profession is expanding rapidly around the world and I believe that our group will be expanding rapidly tomorrow.”