How To Host A Business Event On A Budget

January 13, 2024
2 mins read

How To Host A Business Event On A Budget

By Business Desk

Wednesday, September 27, 2017.

One of the most important parts of running a business is marketing. It’s how you get your name and products out there for potential customers and avoid your business being overlooked. It won’t matter how hard you work if people don’t know what you sell, so advertising is absolutely essential. A great marketing opportunity is hosting your own business event, and if you do it right, it won’t cost you too much to host one.

1. Budget

Before you book or even start to plan anything, you’re going to want to know what sort of budget you’re looking at, so that you know how much money you have to spend on things such as catering, audio visual rentals, the venue, and decorations. There is no point in planning these before you have your budget, as you may plan for things that you simply can’t afford.

2. Collaborate With Another Business

If you’re on a pretty tight budget, then collaborating with another business is a sensible plan. This will mean that you’ve got double the original budget and could mean double the success. As they always say, “two heads are better than one”, and hosting your event will be no different. If you’re a relatively new business owner, then it may be best to have someone to help you out and share the load.

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3. Shop Around For The Right Venue

One of the most stressful tasks when hosting an event is finding a venue that will fit your budget, the number of guests you are planning to invite, the features you need, and the date you are planning. The best way to find a relatively cost-effective one is to shop around and start looking early. Weigh up your options carefully, and don’t stick to only hotel options, as they often cost more for the room itself, as well as food and drinks.

4. Go For A Buffet

When planning the food for your event, it is very easy to cut down on costs without making it glaringly obvious to your guests. Hosting a buffet, rather than a sit-down meal will save you money on not only food, but waiters and table service too, and provides the perfect opportunity to for your guests to interact with and chat to each other in a more relaxed setting.

5. Find Guest Speakers Early

Like with your venue, it’s best to start looking for guest speakers early. No business event is complete without a guest speaker or two, so they require some planning and preparation. You should also try to look for guest speakers that live near where you are hosting your event. This will save you money on transporting your guest speakers to your event and accommodation for the night.

Planning a business event is stressful at the best of times, but is even more stressful when working on a strict budget. Careful planning, time management, shopping around, and collaborating with other businesses are just a few ways that will help you save money while you make money.

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