Industry Analysis & Industry Trends
The Public Relations Firms industry has grown in the past five years as higher corporate profit margins enabled businesses to expand their marketing budgets. Firms have benefited particularly from increased demand for digital outreach efforts, which has led to steady revenue growth in the five years to 2015. This growth has come despite heightened competition as multinational and highly diversified media companies increasingly acquire small industry firms to expand their services offerings. In the five years to 2020, the industry will continue to exhibit robust growth due to greater public relations spending by businesses... purchase to read more
Industry Report - Starting a New Business Chapter
Overall, the industry has a low level of barriers to entry. Although there are no formal regulatory barriers to entry and little capital requirements, firms wishing to enter the industry must compete with large global incumbent firms. It is unlikely that a new operator would be able to effectively compete against these global integrated and well-established public relations firms, due to the substantial resources that the global firms have.
Additionally, another barrier to entry for a potential entrant can be experience. In order to provide certain services, firms need to have some legal background and a relatively high level of education... purchase to read more