facing these cost increases in their own business. It’s di cult therefore to pass on any of the cost increases we face to our customers. Much will have to be absorbed by the event planner. I am, and continue to, be incredibly positive about the recovery of our industry because I have seen the appetite there is for live events. Where there is demand for our services – there is always a way. at’s coming from a business owner who has survived three recessions and counting. We will need everything in our toolkit: sales, resourcefulness, creativity, tenacity. But we absolutely can ride the latest threat to the industry. Creative edge My advice is to never cut corners. If the budget reduces, don’t try to produce the same event at this new cost level. To attempt to throw the same event on less money is a bad outcome for everyone – clients, attendees, and the industry. Instead, use your creative edge. Make the
with a double whammy of price hikes: as the cost of running a business goes up, so too does the cost of staging a live event. National Insurance contributions increased in April for employers and employees. e chancellor o set this with a rise in the National Insurance thresholds which will come into play from July, but SME businesses will be a ected. Energy prices are soaring and there doesn’t look to be any let up on the horizon. Heating, lighting, and providing hot water in our o ces is in the process of becoming very, very expensive. Many in our industry are also still repaying Government loans from the pandemic. en, in the same week that all remaining Covid restrictions were li ed in England, the world watched on in horror as the war in Ukraine began. Where a threat to our livelihood pales in signicance to the plight of the Ukrainian people, it is true that the war will have more widespread consequences, further rises to fuel and food prices being just some of those. I am 100 per
cent in support of the Western sanctions being imposed on Russia. It’s a necessary evil and one we will navigate. And to staging events? e cost of transportation and moving kit is increasing in line with rising fuel costs. Our suppliers are having to put up prices thanks to supply chain issues and increasing overheads ‐ owers, food, catering, décor, lighting all
event totally di erent to the pre‐budget cut plan. Be innovative in how they are staged. It avoids pale comparisons but can also infuse an event with a new lease of life. Use it as a platform for fresh ideas. Source locally. Use suppliers, caterers, orists, talent from closer to home and everyone will benet from reduced fuel costs
To attempt to throw the same event on less money is a bad outcome for everyone
going up. e cost of hiring and travel for performers, speakers, even getting delegates to an event has increased massively. Every element that comes together to make an
and supporting local businesses. We once again face a huge challenge to our livelihoods and industry, but we have successfully steered our way through tricky times before. In fact, I would argue that the uncertainty of the pandemic was far worse. In those early days, our industry shut down overnight and gatherings were made to be punishable by law. I think we all struggled to see a way through for the long term. Our great industry is proven to be resilient and by using the best of our creativity we can, and will, nd a way.
event happen is rising in price. Shrinking budgets
Corporate budgets are likely to start being squeezed in a way we’ve not seen since the credit crunch in 2008. We have a client base that’s still regaining complete condence in live events a er all the forced cancellations during the pandemic, and who are also
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