Tuesday, 10 November 2009

PRCA in strong financial position

Following the CIPR's announcement regarding its finances, a number of members have asked me to reassure them as to our position.

It's a reassurance I'm delighted to give, because we are in an extremely healthy position.

Our reserves are very significant because of sound financial management over a number of years. The Association has produced a surplus in each of the previous four years, and confidently expects to produce one in 2009/10 too.

Our agency membership has grown by 50% over the past two years, and we recently announced in-house and international membership programmes too, further diversifying our revenue streams. Income from our business partners, training and events has significantly increased over the past two years. As a result of strong performance in all of these areas, turnover is up by around 50% compared with two years ago.

So, we entered this recession in a strong position, and we will exit it in an even stronger one.

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