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Budgeting For Your Company Shindig

You’ve decided to hold an event for your next big company shindig – now the question is what factors to include in your shindig budget?

A list of factors to include in your event budget is actually a second step in the planning of a budget for the event. The first step should be making sure that your company or business actually has an event budget. For most companies, the money that will be spent on an event will either come from a special budget set aside just for these occasions, or it will be drawn from what ever part of the company this event is being held for. For example, an event being thrown for the launch of a new product would probably be considered an advertising expense.

The first of the factors to include in your corporate event budget is the cost of renting the facility for your event. From yachts to large arenas, most of the places where weddings, concerts and other parties are held are also available for corporate events. As with weddings or any other event, the more popular the facility, the more expensive the fee. Also remember that some facilities may have limitations on what can or cannot take place in their location, so additional fees for things like alcohol or live music may be incurred.

Another factor is the cost of food. Even if you are not planning on having a formal sit down dinner at your corporate event, or even a buffet, you will still need to plan a budget for food and drinks. Most events will have several stages of food, ranging from hors d’ oeuvres to entrees to dessert, and each of these steps will have a certain cost associated with them. The best way to cut down on food costs is to just have a cocktail hour with hors d’ oeuvres, but even that can be costly. Alcohol will also add a large amount of money to your budget, so consider not serving it – or just serving wine and beer.

The final of the factors to include in your corporate event budget is entertainment. Entertainment at these events can range from a DJ playing music over a sound system, to a five piece chamber music ensemble, to a famous musician or comedian. The range for entertainment is perhaps the widest point in your event budget, and the place where you can make the most choices to save money. Depending on the type of event, you may not need to go with a famous name for your entertainment. However, if you are looking to impress the media, fame is sure to do it.

There are many things to consider when budgeting for your event. If you break it down into categories, you can easily decide which areas to spend your money on, and where you can save money if you need to do so.

Find corporate event planners that can help make your business event a smashing success.

Tags: budget, dinner, entertainment, event, expense, food, meeting, party, planning, shindig