Everyone was hard hit by the economic recession. In 2009, 64 percent of PR firms saw declining revenues, according to StevensGouldPincus (SGP). However, for small firms, the recession posed a unique set of challenges.
“How do you compete with a company with global offices that is charging the same thing we charge?” Hodge Schindler Integrated Communications’ Sally Hodge told Reuters. According to the article, she still goes without pay some weeks to make ends meet.
Art Stevens from SGP says a lot of firms have seen revenue losses over the past couple of years. But the story ends on an upbeat note, with studies showing optimism in the industry and another small firm, Utopia Communications, seeing new avenues for business.