These days, most companies just use webinars when they want to operate some kind of online event. This is usually much cheaper than trying to host a public event, and in this day and age, most people would prefer to stay at home anyway. However, that’s not to say that business events have died out. They’re still going to be around (especially when the pandemic is over) and it’s important to keep them in the back of your mind.

One of the more difficult aspects of planning a big business event is the budgeting. There are going to be lots of expenses that you need to consider, and there may be times where you’ll miss out on certain expenses and forget to include certain things. So in this post, we’ve covered five of the biggest event expenses that companies always seem to overlook.

Entertainment

Entertainment is a huge component of any event. Even if it’s a formal business event that is focused on serious business deals and product reveals, it’s going to have some kind of entertainment to keep your guests happy. However, the amount you spend on entertainment can often exceed your budget because of all the additional costs involved. Try to keep an eye on your entertainment budget and make sure it doesn’t exceed the limit you’ve set.

Staff

Staff can be expensive to both hire and manage at a public business event. As such, you’ll need to be cautious about how many people you hire, how you manage them, and also delegating tasks to them. An efficient way to manage your team is to use a staff management app. This can help you understand how many team members you have, it’ll ensure that every member has been delegated a task on specific days, and it improves the overall efficiency of your team.

Lighting

Lighting costs are surprisingly expensive, especially when you consider how big and bright those fixtures need to be in order to light up a stage. Lighting costs can easily exceed your predicted budgets, so make sure you speak to the venue to get a rough estimation of how much you’ll be spending.

Audio and visual

Audio and visual is another big cost. If you want to show off your products and make clear speeches, then you’ll have to invest in good audio equipment. Luckily, venues will often provide this as part of a package deal or as an upgrade option. Speak to them regarding their audio and visual devices to ensure you’re getting a good deal.

Food and beverages

Lastly, we can’t forget about your food and beverage budget. If you’re planning on having your guests eat and snack at your event, then this is an expense you can’t forget. Make sure you plan ahead so that you know exactly how much food you’ll need and don’t forget to keep dietary considerations in mind too. This will ensure that everyone is fed and happy during your big event.

This is a Contributed Post

Photo by The Climate Reality Project on Unsplash

Share