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Olympic impact on ICM members yet to be seen

1 September 2011

The Olympics is failing to ignite the interest of credit managers, despite the heavy emphasis on the new business opportunities that it presents.

With just under a year to go until London 2012, reactions are mixed, according to figures from the Institute of Credit Management (ICM).

While the majority (54 percent) believe the games will have a positive effect on their business, there’s still a large number (40 percent) that feels it will have no impact whatsoever.

The survey of 8,000 members of the ICM shows that there is still a large amount of apathy towards the sporting event, and even a minority (six percent) feeling that the Olympics will have a negative impact on business.

With members representing most UK industries, it appears to only be those businesses directly involved with the construction and support of the Games that have seen any benefit, says Philip King, Chief Executive, ICM. “It’s a stark divide between those businesses that have directly benefited and those that won’t even know it’s going on.

“While there’s still a year to go, we might see a change in opinion for how it affects UK industry closer to the time, with tourist money coming in and advertising and sponsorship in full swing. However, right now, there’s a considerable amount of disinterest,” Philip says.