As Tina has mentioned below, the ‘credit crunch’ (are we all sick of hearing this term?!) is making for some testing times throughout business. With budgets been reduced, slashed or revoked completely this is undoubtedly a tough period for the events industry. This has been illustrated most clearly with the collapse of brilliantweekends.co.uk on September 4th. A casualty of the weakened Pound combined with falling demand, the ferocity of market forces couldn’t be more clearly illustrated.
At Team Tactics, we are a fortunate in that our business model is built around a smaller client base with which we maintain highly personal and longterm relationships. Rather than purchasing large amounts of costly stock which we need to ‘flog’ to the market, our efforts are put towards tailoring intimate team away days or large scale bespoke events. This enables us to work with whatever budget our clients may have, offering the best possible options available.
The corporate events industry in particular must prepare for the tougher times ahead. We recently added a portfolio of reasonably priced Christmas Corporate Events to our website, and the response is already showing. Not all corporate entertainment needs to cost £200 per person because ultimately event companies shouldn’t just be a mechanism for spending money, but a service which assists in using what you have in the best possible way.