Asked for his thoughts on the current state of the advertising industry, Michael Scantlebury, founder and director at independent agency Impero, says he feels we’re on the cusp of a recession. But that's not necessarily a bad thing, as the ripple effect is likely to spawn more smaller companies like his own.

“When I first moved to London, there were some shit-hot independent agencies,” states the creative chief from New Zealand, who set up Impero in 2009. “We Are Social was starting out, you had Holler and Lean Mean