Almost half (44%) of buyers expect business to pick up over the next year, while an optimistic 8% expect to see recovery within the next six months.

Providing value and proving the worth of events were named as key issues by delegates at the conference at London’s Queen Elizabeth II Conference Centre.

Some 50% of delegates said providing value in events was currently the biggest challenge for the industry.

Proving the worth of events was also key, according to 34% of buyers, while 8% said slashing budgets was also a concern.

The cost for agencies to pitch for business was also discussed at the conference. One agency delegate said: “I have recently done three pitches and seen two of them hijacked at a lower price. Now if I pitch for a client they must pay a deposit - I’ve stopped doing free pitches.”

However, another agency representative said: “It is a given you put an inordinate amount of time into a pitch, but if you don’t, someone else will. From the client’s perspective, how can they evaluate the pitch if you don’t?”

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The Waterford House Partnership will focus on consultancy, events and production.

The business was actually incorporated in April but went through major changes last month (August), including formally appointing Ingram as a director.

Speaking to Event sister title C&IT, Ingram defended starting up a new company so soon, and in a similar area to his previous business.

“There will be a lot of people gunning for me because, sadly and incorrectly, they assume I brought down the company, but they don’t understand that this has actually cost me £1m personally,” said Ingram. “I don’t have control over the market or the global economy.”