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Aug 10
2017
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Hosting a corporate event on a budget

Corporate event planning is a big responsibility, and the pressures can be overwhelming: you need to plan an event that is enjoyable for all clients, is memorable, does what it is intended to do (team building, goal-reaching, fundraising, etc)…the list goes on and on. It may seem as if the only way to throw a successful and memorable event is to break the bank, but thankfully there are several ways you can host an impressive corporate event on a budget. Here are four of these options to consider for your next corporate event!

 

#1: Budget

Perhaps the most obvious factor in cost-effectively planning a corporate event is to come up with an initial budget. Whether you are provided with a budget or are required to write your own, starting with a budget before subsequent planning can be the difference between saving money and completely over-spending. Tailor your budget to the type of event you are throwing, list all of your must-haves, and consider eliminating any expenses that do not specifically help you meet your objective.

 

#2: Decide on the event’s purpose

Corporate events can be held for a multitude of purposes: maybe you’re looking to throw a party for a budget-exceeding team. Maybe you’re looking to host a corporate team-building night to bring employees together. Perhaps you’re looking for a way to thank your loyal customers. A great way to save some money in any of these scenarios is to determine the purpose of the event early-on and plan your add-ons around it; for example, if the purpose of the corporate event is team training, you probably won’t need a photographer. If the purpose is team-building, you might opt for an outdoors-type event that does not require a DJ. Specifically planning the type of corporate event you’re coordinating and staying aware of exactly what you’ll need can make a big difference in the amount spent on a corporate event.

people at corporate event

#3: Browse before choosing a venue

When looking for a venue to host a corporate event, it can be tempting to settle for the first nice venue you come across, especially because visiting multiple venues can be tiring and time consuming. However one of the best ways to stick to your budget is to shop around before settling for one, comparing venues and rental costs, and choosing the venue that best fits your needs and budget. Shopping around for a venue as far in advance as possible will also give you significantly more options than doing so last minute.

 

#4: Choose a venue that offers multiple services

Savings can also come in the form of multi-service venues. For example, some venues include decor in the rental price, which eliminates the need for a separate decoration budget. While visiting different venues, always inquire as to what additional services (if any) are included in the rental fees. Some venues may even offer savings when you look to them for additional services for the event including bartending, catering, or entertainment.

 

Incorporating one or all of these tips can make planning a corporate event easier and less stressful. For more ideas, tips and inspiration consider contacting Abbey Road Entertainment for all your corporate event needs!

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