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Small Event Firms & Government | Assignment

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Added on  2020-02-14

Small Event Firms & Government | Assignment

   Added on 2020-02-14

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Small Event Firms & Government | Assignment_1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................4UK EVENT INDUSTRY ...............................................................................................................6INITIATIVES FROM THE SIDE OF UK GOVERNMENT ........................................................9IMPLICATIONS OF THE ASSESSMENTS UPON MANAGERS OF EVENTMANAGEMENT COMPANIES...................................................................................................12CONCLUSION .............................................................................................................................13REFERENCES................................................................................................................................1
Small Event Firms & Government | Assignment_2
ILLUSTRATION INDEXIllustration 1: UK locations used by event organizers.....................................................................8
Small Event Firms & Government | Assignment_3
Title: Is the government doing the right kind of things to support small events firms? What arethe implications of your assessment for event managers? INTRODUCTION It is evident that memorable events do not happen. The holding of an event requires lot ofplanning whether it could be anything such as conference, seminar etc. It is also important thatan event must gain appropriate support from all the stakeholders (O'toole, Harris and McDonnell,2005). These stakeholders include audience, government, regulators, suppliers and many others.The event industry comprised of many small firms who are on edge of start-ups. They arecompeting with the large scale event firms who operate on a very wide scale. Hence, it is quitedifficult for them to establish their presence within the market. They face different types ofissues and problems in functioning. The small event firms need appropriate support from thegovernment side so that they can attain growth in the industry (Kaplanidou, 2006). There can bemany reasons behind why government should support the small event companies. These are asfollows:Lack of encouragement Usually the small companies do not get support from all the sides. They are faced withthe shortage of funds, resources and many other things. They have the pressure of facing highcompetition from the large sized firms. This thing disturbs their planning and developmentinitiatives (Morgan, 2008). The firms are not able to move in the right direction due to whichmany small businesses remain small. In this case it is important that government should provideappropriate encouragement benefits to them. The policies are to be focused on their growth anddevelopment. If small event firms are not supported then they will feel demotivated. It will havean impact on the economy of the industry as well as country. The little contribution of the smallfirms is also valuable for the economy. If the firms does not get adequate support from any sides,in that case government can prove to be a great source of encouragement for them (Mehmetogluand Ellingsen, 2005).Shortage of funds Another reason for offering support to small event firms is the issue that focuses onshortage of funds. Generally the small scale companies do not have adequate amount of moneyat the initial level for functioning. Funds are required for performing of events. It affects theirplanning and development activities. It is evident that finance is the backbone of business and in
Small Event Firms & Government | Assignment_4

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