Tuesday, August 18, 2009

New Federal Guidelines on Bailout Companies Can Expand Your Worth as an Event Planner

By Linda Matraz

As a business meeting and event planner, you are constantly searching for ideas to add value to your services. Recently the federal government published guidelines to the businesses receiving bailout funds. These guidelines can in fact aid you to be a more desirable planner.

The boards of directors of firms obtaining unusual aid from the government have to adopt a company-wide policy on any outlays connected to air travel services, entertainment and holiday parties, and conferences and events. This policy is not designed to include justifiable outlays for sales conferences, human resources development, acceptable performance incentives and other controls attached to a corporation's routine business operations. What does this mean? Here are some of the provisions and ways you can apply them to cause your client's corporations seem golden even if they are planning incentive travel.

1. Corporations procuring events that cost more than $75,000 are requested to create a statement that fundamentally demonstrates that the business meeting will be of benefit and ways the company will reach that objective. If you layout every event with your client in the exact approach -- indifferent to the cost--you might be able to uncover methods to scale down the expense for your client by ferreting out flaws in the event set up.

2. Bailout corporations are authorized to expend just 15% of their overall outlays in support of marketing and sales on events, meetings, incentive travel, rewards, and so on.-- in other words, nearly anything you may possibly put together for them. This is a great way for you to realize ways to cut down expenses without cutting critical corners. Aid all your clients to hold onto more money and you can earn their loyalty.

These guidelines executed in concert are like slamming a home run out of the ballpark and into a neighborhood many blocks away. In concert they develop into a mega-plan for initiating efficiency, savings, and a brand new look at events. And that produces value --value in the event, the proposal, and you.

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