MACFIN: 2021—The year Ahead and is the Revival on?
In May 2020, I was honoured to put a small piece together for the ACS whilst in the midst of the Covid lockdown storm. The period April until June/July (for NSW) illustrated just how fragile our economy is balanced.
Lockdown sent most of the Film and TV Industry into hibernation, a period that was finely balanced between economic survival and an uncontrolled Covid outbreak. Thankfully, that worse period seems behind us all now thanks to a whole lot of Governments and Agencies Support and spirit with our communities that saw us navigate away from a much worse scenario.
But as most businesses continue to recover from the impacts of Covid coinciding with the end of JK2 are we out of the woods as a Country yet? I suspect not completely… spare a thought for the Aviation, Education, Event and some Tourism sectors that may never recover.
Pleasingly, we are seeing uplifts in revenues across a majority of businesses in the Film and TV sector seeking new finance, returns to pre-Covid activity and beyond in some cases. In my recent travels to Production studios and locations it has been pleasing to see many clients back on the tools, Productions facilities full to the bream and a vibe not seen for many years.
After a period of uncertainty, banks and lending institutions are providing us with some clear lending policies, bespoke solutions that are sympathetic to the genuine affects that Covid put before us. With much confidence the sense is we are over the most challenging set of circumstances seen in my 30 year plus commercial finance career.
With studios at capacity, crews in demand, arguably the future is bright as we defy Global pandemic trends. From May move forward to now, I reach out to the ACS community in a much more positive manner. The upcoming period could well present opportunities that will support sensible Capital investment. As a passionate advocate I continue to be here to assist with any advice on those growth opportunities that may soon present themselves.
Yours in film!
Andrew Barley
[email protected]
