Starting a Business in Events

2564 Words11 Pages
When starting up your own Business in Events many factors need to be taken into consideration beforehand. This includes what skills you already have, considering the risk of self employment, research into the current demand for events, what type of events do you want to manage, do you have the determination, How are you planning to finance the venture and all the legal requirements. Firstly what skills do you posses that will help? Do you have enough knowledge in Employment law, Can you manage your finances, and do you know the necessary aspects of health and safety that are required? Communication skills are essential as you need to be able to clearly put across your ideas to your client in a concise and confident manner. It is also vital you are comfortable in managing others and delegation. When you employ internal staff you need to be able to motivate, encourage effective teamwork, with strong leadership skills and be able to develop your own successful sense and style of management. Being able to grasp conceptual ability (being able to deal with complex and difficult situations with assertive decision making and the drive to meet your own business objectives. This also includes being able to handle great responsibility and dealing with the uncertainty and the element of surprise). Taking the step to become self employed is a total lifestyle change, it is a lot more flexible however there is the inconsistency of regular incoming work in the early stages of a new business. Self motivation is needed to be able to overcome the risk entailed with self employment. You have sole responsibility for your finances, staff, reputation and so much more. You need to be confident enough to make your business a success. It is always good t... ... middle of paper ... ... Finally in your line of work you will be responsible for others at events and insurance will be needed. As a new business its best that you get insured per event as you don’t know how many events you will be organising annually to purchase it yearly. Insurance will protect you for all unforeseen damages and accidents, Public Liability Insurance (PLI) should cover most problems. You can get extra cover for other things as problems with your staff, a change in weather conditions, cancellation or even loss of money. It is best that you seek the help of a Insurance Broker they will find you the best deal around and tailor to the needs of each individual event. Overall many things need to be taken into consideration and each needed to be thoroughly looked into and researched and thought about. Starting a business in events is not a decision to make lightly.

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