18
Cover Story
ver the last
few months,
many event
businesses have
been sharing their frustrations
that their banks have not
provided them with one of the
government’s Coronavirus
Business Interruption Loans
(CBIL). Anecdotally, it has
sometimes come across that
the banks don’t favour the
odds that the events industry
will return any time soon, and
as such many businesses will
not be around to pay any of
the loan back, despite the
80% state guarantee.
While I am in no doubt many
events businesses have been
treated unfairly and been
denied access to funding, it is
possible that some businesses
simply haven’t demonstrated a
business plan which
acknowledges a change in
trends. Events, as most of us
agree, will largely be hybrid
going forward. Most live
experiences will have some
manner of digital element, and
as a result, that digital element
has be delivered professionally
and to a high quality.
In May I was contacted by
Johnny Palmer, founder and
managing director of SXS
Events, who revealed in delight
of his successful CBILS
application. The application,
though, wasn’t won through
the existing business model,
but one that caters for future
– if not present – needs.
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