Broker News: Sports & Leisure Market Post Brexit

With everyone’s attention directed at COVID-19 and how as an industry we can overcome this by supporting each other, attention has almost quite rightly been diverted away from other pressing news that affects us all. 

The UK left the EU at the end of January 2020, this began a transition period that ended recently, on the 31 December 2020. Regardless of people’s opinion on this, we are now no longer part of the EU and some of the rules that define the EU. What does this mean for sports and leisure?

Why is it important to the sports and leisure market?

A lot of large associations and industry leaders, who help promote change and rulings in certain activities were funded and heavily influenced by the EU. They have had to adapt over what has been quite a short period, to help protect a lot of the support they offer smaller sports and leisure businesses around the UK. Why is this important? A lot of SME’s in sports and leisure are freelancers, 22% of the UK’s working class is freelance in some shape or form, this makes up a 67% growth in freelancers over the last 10 years. Sports and leisure make up a large part of that growth, for example 55% of all sports coaches and personal trainers are freelancers, that is a vast increase in recent years*. With sports and leisure growing at such a rate, a lot of these new ventures look to their relevant associations for guidance.

We do not only depend on funding from the EU when it comes to sports and leisure, we also depend on experience and expertise. EU nationals bring varying experience to our nation’s sports and leisure, this is how we as country keep up a diverse array of leisure offerings to members of the public and enthusiasts. Now that we are no longer part of the freedom of movement rules, potential employees will need to apply for work permits and, in some cases, require additional grants to enter the UK for employment purposes.

The UK is one of the world leaders for sports and leisure, many countries take on our traditions and make them their own. We gave birth to football, badminton, cricket, golf, netball and rugby, just to name a few. In the early nineteenth century we lead the way in forming some of the world’s first national bodies for sports and leisure. Association football for example, which to date attracts the most viewers and money in the world, has several bodies that make up this sport, they originally started in the UK but are now world organisations. 

UK will continue to support their roots in sports and leisure, despite its current challenges. For example Sports England are still offering COVID funding in the form of their Small Grants and Community Asset Fund, which collectively makes up £20M support. Cash4Clubs who have offered funding for many years, have increased its grant potential in light of recent struggles and England Netball, England and Wales Cricket, Football Foundation and many other national governing bodies are continuing to roll out schemes, adapting to an ever growing demand.

Yes change is difficult but sports and leisure will continue to grow for many years and has a bright future as a UK industry.

A Struggling Health & Leisure Industry

Operators within the health and fitness industry have struggled in recent months due to the pandemic, this has created some movement in the industry, not all negative. Health and fitness has become paramount more so recently than in previous years, to help all of us keep our sanity and keep us driving forward during this difficult time we are facing. This in turn has given rise to new ventures in this industry, small glimmers of something big when the pandemic comes to an end.

Sports & Leisure Industry Experts

Protectivity have just the product for all gyms, multi-sport centres, CrossFit, body building gyms and much more, our ‘Health and Fitness Club’ policy.

This product is available within the proposal forms on the platform library and offers an array of cover options, so that you can apply for cover bespoke to your customers requirements, you can include;

– Public and Products Liability up to £10M limit

– Professional Indemnity, provided for no additional charge with every Public and Products Liability request

– Material Damage, everything from buildings to contents, machinery and plant to rent payable, we can also consider portable equipment all risks and money cover.

– Business Interruption, specifically worded to protect your customer from further financial loss relating to a material damage claim.

– Trustees liability and personal accident.

Our premiums are competitively placed for the coverage offered and not only that, the claims handling service is award winning because this product, as is most of our sports and leisure offerings, is underwritten by AXA XL. We only want to offer you the best, to give you the confidence to convert all offers.

We look forward to you benefiting from what we have on offer and as always if you ever have any enquiries or feedback relating to our newsletters, please contact your account handler, whose details are available within your broker platform login, top right.