What to consider to prepare the budget for a corporate event

Preparing the budget for a corporate event, it is an important matter, and must be done with calm and mindfulness.  The goal is: to get a successful event, especially if the event includes our clients.

In order to achieve your goals, keep in mind the following suggestions:

We all know that preparing a budget it is not an easy task, but check out the following blog that can help you handling this delicate matter:

Budget – Size of the event

Even Though this is an obvious first step, it must definitely include how many people we will consider, this information will determine the size of the event and the amount of money you will need to achieve your event goals.

Prepare an expenses list

Next thing to do is prepare an expenses list, so you can consider all the expenses you will need to make and avoid (as much as possible, the surprise factor).

Start with the scential expenses and continue with the extra details that can be eliminate if you need to adjust your budget.

The following are the basics you

  • Venue
  • Snacks (consider if there is an special need of the staff, such as allergies, diabetes, vegetarian)
  • Cleaning staff
  • IT support and equipment
  • Publicity
  • Printed material
  • Security
  • Transportation

Suppliers

This is the most important group of people that you will need to plan you corporate event.  It is important to get to know them before, analize their price range and how reliable they are, based on prior experiences working with them.

Before contacting a supplier, keep in mind:

  • What kind of supplier need the event
  • Date of the event
  • Price range
  • Budget for the event
  • Terms of payment

Additional expenses

Always consider the additional expenses if you want to avoid as much as possible the surprise factor.  In order to achieve that, safe a specific amount of the budget to cover emergencies. Usually this emergency budget could be between 5% to 8% of the total amount of the budget.

Also Be careful when signing the contract and the terms in it.

Merchandising

There is another entry you must consider in your budget, which is advertising and promotion of the event/ brand. If you are inviting your clients, you can not let them leave the event “empty-handed”.  Normally you can consider details such as pens, banners, roll ups, t-shirts, hats and others.

Keep in mind this tips at the moment of planning your corporate event and remember that Rincon de Puembo offers you all you need to achieve a successful event.





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