Supporting SME leaders to create resilience and manage uncertainty in 2021 and beyond
Access free ideas, guidance, peer & 121 support to help your business to manage the uncertainty of steering through the pandemic and impacts of Brexit for up to TWO leaders in your business.
Staffordshire Business School is supporting regional business by delivering free training in leadership and management to provide exactly what business needs most to build a resilient future.
This is cohort 5 of the SBLP and the positive impacts of previous cohorts are being felt across the region. Here is what Rhys from XP VR thought of the course
Why choose to be part of the Small Business Leadership Programme? ▪ Make your business more resilient ▪ Boost business performance and growth ▪ Create an innovative and agile organisation ▪ Recover from the impact of COVID-19 ▪ Find solutions to the impact of Brexit ▪ Build leadership skills, confidence and effectiveness ▪ Plan for a solid future for your business ▪ Build lasting relationships with small business leaders ▪ Improve risk management and efficiency
When does the course start? Tuesday the 30th March 2021 (1st webinar at 3pm)
If you would like to have a chat about the course then please email one of our experienced Entrepreneurs in Residence with your phone number and they will call you back,
Here’s what another business thought of the course: Geoff Barton, General Manager of Canalside Farm in Great Haywood near Stafford said: “It’s allowed me to connect with other businesses, and I’ve learned much and managed to strengthen a few knowledge gaps and boost my handling of the business during these unique times.”
What’s involved? Eligibility requirements ▪ Your business must be a Small or Medium-sized Enterprise (SME) based in England. ▪ Your business needs to employ between 5 and 249 people and have been operational for at least one year ▪ The participant should be a decision maker or member of the senior management team within the business with at least one person reporting directly to them. ▪ The participant must be able to commit to attending the full programme
Time commitment The programme is designed to be manageable alongside full-time work and furloughed staff can join the programme.
Participants will attend 8×90- minute webinars across ten weeks, and complete up to 2 hours of independent development and peer-supported engagement per week.
Places are fully funded by the Government to support the resilience, recovery and growth of SMEs during and after COVID-19. The programme is completely free to attend but places are strictly limited.
Register Now There are two ways to register.
Email one of the Entrepreneurs in Residence as listed above and they will talk you through the process.
Follow the simple instructions below (this takes 3 minutes) and we will be in touch: • Go to https://smallbusinesscharter.org/sblp-registration/ • Choose ‘West Midlands’ from the pink vertical menu on the left • Scroll through the list of centres until you find Staffordshire University (start date 30th march) & click register
PLEASE NOTE: Your business can send up to two eligible delegates to this programme and delegates can be furloughed. Please do one registration for each person.
On 28th January, myself (Ben Cooke), Lia Bover
Armstrong and Cerys Chilton hosted the Celebrating Student Success awards for
the Staffordshire University Business School. The event was a fun-packed,
exciting evening which praised students for their outstanding efforts over the
last year. The three of us thoroughly enjoyed the opportunity to host the event
and have decided to compile a short Q&A in order to offer “a glimpse behind
the curtain”.
How did you work together as a team?
CC: This was our first time working together as a
team and I felt we worked well. It was an amazing opportunity to develop skills
and knowledge, by working with people I don’t normally work with. It also
benefitted me learning where I fit in with different types of people’s work
styles. In the beginning we managed to delegate roles amongst ourselves to help
plan the event. Considering the short period of time to conduct the event, we successfully
used each other’s previous experiences in the event industry to decide roles in
planning the event. Working with people you don’t necessarily know is going to
be a part of any industry, in particular events, being thrown into a
challenging task has built my confidence in communication. Throughout the
planning of the event, the role of Team Leader transferred to different
individuals throughout the stages of the event, depending on factors that we
had to consider and manage. For example, Ben managed a lot of the technological
side of the event and Lia managed the communications via email. This
opportunity gave us a real-life experience of the industry we all hope to go
into, and I feel our joint appreciation for this motivated us all to succeed in
the project.
What challenges did you face during the planning process?
LBA: Thankfully, there weren’t many challenges we had
to face, but I think Ben and Cerys can agree with me that having to meet
virtually and having a short amount of time to plan everything was a bit
stressful, as getting information across is slower that if you were meeting
face to face. However, it was a good way to learn how to work in a team with
people you don’t usually work with; to see what it would be like to work in the
events industry during these current times where you must work from home even
if you are part of a team; and that there is always a solution for everything,
even if that means getting out of your comfort zone.
What challenges did you face throughout the event and how
did you deal with them?
BC: Being on the technical role, using a new software
was challenging. It took a bit of playing around to get used to it, but with a
bit of practice it became easy. I would say the challenge using StreamYard
throughout the event would be changing from screen to screen to share content
for the viewers. This task takes a lot of patience as the software might play
up at certain times due to the pace you are trying to change the visuals at. In
order for the viewer not to realise the delay, we used the private chat not
visible to the attendees in order to inform Lia and Cerys that there was a
technical issue and to keep the content rolling in order to fill any gaps. This
was a useful tool as it appeared to the viewer as a seamless transition.
What went well?
CC: As previously mentioned, we worked well as team
and we delegated roles efficiently according to our skills. On the night we
worked well as a team, as well through the private chat box to ensure that
everyone was okay. Where needed gaps were filled and any crisis were quickly
solved, for example if there was a delay, me and Lia as hosts would continue to
chat and talk to prevent awkward silences. The creative ideas we came up with
for the awards ceremony such as the use of Mentimeter and a short acoustic
performance from Mick Williams were a success, engaging with the audience. The
use of StreamYard was also successful as we could see the engagement of the stream
as we were hosting and could refer to the comments throughout the live stream.
How would you improve and what have you learnt from this?
BC: If we were to host a similar event again, I would
use a computer with two screens to change visuals over at a quicker pace. Due
to being under lockdown restrictions, I only had the one screen available which
caused a slight delay in proceedings to get the content on the stream. Despite
this point I would possibly look down other routes of streaming software.
StreamYard can be slightly limited in the content you can share on the screen,
so further research into similar software would be a great idea.
What advice would you give to people hosting an online
event?
LBA: Make the most of it and make sure you give yourselves enough time to plan it all. Enjoy every second of the whole process and just be positive and optimistic about it all. Get yourself out of your comfort zone, even if it feels scary at first, and don’t let it get to you if something doesn’t work straight away because it’s normal and even the biggest events out there have technical issues and learn from those experiences.
Over the last few months we have been running a module on
‘Innovation, Value and Markets’ to over 70 Staffordshire business people, as
part of our Small
Business Leadership Programme.
During the workshops it was very clear that most small businesses have had to rethink their business model to adapt to massive shifts in consumer behaviour (and supply chains) because of Covid. The UK Government defines innovation as: The successful exploitation of new ideas. Innovation may involve an organisation’s:
Products and services
Processes (e.g. exploiting new technologies)
Business model (e.g. new income sources/
improved supply chain)
Business Model Innovation
According to Fisk (2021) although there are an infinite
number of potential business models some of the most common formats (applicable
to nearly every type of business) are:
Advertising-based
models. Services are free to users, whilst advertisers pay to engage with
the audience attracted, e.g. Google, Facebook.
Razor-and-blades
models. The facilitating item, like a razor, is sold cheaply, then
accessories, like blades, at a premium, e.g. HP, Nespresso.
Added-value
models. The facilitating item, like an iPad, is sold at a premium, then
accessories, like apps, sold cheaply, e.g. Apple.
One-of-one models. The company donates a
product to a charity, or person in need, for every product sold, e.g. Toms,
Warby Parker.
Cashflow
models. High volumes are generated at low margins, payments received
quickly from customers, paid slowly to suppliers, e.g. Amazon, Dell.
Platform-based
models. These bring buyers and suppliers together, typically charging both
of them to connect and transact, e.g. Airbnb, Uber.
Subscription-based
models. These charge a regular, e.g. monthly, fee for unlimited use of a
product or service, e.g. Netflix, Zipcar.
Freemium
models. These encourage trial or a basic level of usage for free, but
charge for additional or premium options, e.g. Spotify, Fornite.
Direct to
consumer models. Products which in the past would have been sold through
intermediaries are sold direct, e.g. Allbirds, Casper.
10 Types of Innovation
If we want to expand the UK Government’s three categories of
innovation, recent research has identified ten main types of innovation (Keeley et al., 2013):
Profit Model: The way you make money (e.g. Netflix changed the video rental industry by implementing a subscription model)
Network: Connections with others to create value (e.g. Target works with renowned designers to differentiate itself)
Structure: Alignment of your talent assets (e.g. Whole Foods has built a robust feedback system for internal teams)
Process: Signature of superior methods for doing your work (e.g. Zara’s ‘fast fashion’ strategy moves its clothing from sketch to shelf in record time)
Product Performance: Distinguishing features and functionality (e.g. OXO Good Grips costs a premium but its ‘universal design’ has a loyal following)
Product System: Complementary products and services (e.g. Nike+ partnered shoes, sensors, apps and devices into a sport lifestyle suite)
Service: Support and enhancements that surround your offerings (e.g. Zappos “deliver WOW through service” is their #1 internal core value)
Channel: How your offerings are delivered to customers and users (e.g. Nespresso locks in customers with its useful members only club)
Brand: Representation of your offerings and business (e.g. Virgin extends its brand into sectors ranging from soft drinks to space travel)
Customer Engagement: Distinctive interactions you foster (e.g. Wii’s experience draws more from the interactions in the room than from on-screen)
The ‘Business Model Canvas’ is one of the most used
templates in business to map a business model (Osterwalder and Pigneur, 2010).
This is a useful tool for rethinking the whole business, seeing connections and
then innovating the business.
Fisk, P. (2017). Gamechangers: Are you ready to change the World? Creating Innovative Strategies for Business and Brands. West Sussex: John Wiley and Sons Ltd.
Keeley, L., Pikkel, R., Quinn, B. and Walters, H. (2013). Ten Types of Innovation: The Discipline of Building Breakthroughs. New Jersey: John Wiley & Sons, Inc.
Osterwalder, A. and Pigneur, Y. (2010). Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. New Jersey: John Wiley & Sons, Inc.
Author
Tanya Hemphill can be found on twitter @DigitalTanya she has recently joined Staffordshire Business School. She teaches on the MSc in Digital Marketing Management which includes a credited workplacement.
Papi
Paul (Paul Dobson) has had extensive experience in supporting the hospitality
trade, including the successful start-up and running of pizza restaurant and
takeaways, both here in the UK and France.
On Friday 5th February, 1pm-2pm, Paul will be delivering a pizza making demo and chat which will cover a quick and easy way to make Nutella® pizzas and discuss the start-up and running of a pizzeria.
Share your passion for Nutella ® with a tweet by adding the tag @nutelladay and the hashtag #worldnutelladay. Become a follower of @nutelladay on Twitter, connect at nutelladay.com and share your World Nutella ® Day images on Instagram and Pinterest and tag your photos or stories using the hashtag #WorldNutellaDay.
Paul’s session will be delivered on Microsoft Teams. To join the session, click the following link at 1pm on Friday 5th February:
To take part in making your very own Nutella Pizza, you will need the following:
Ingredients :- 500g OO flour, plus extra to dust 1 x 7g sachet fast action dried yeast 1 tsp fine sea salt 1 tsp caster sugar 2 tbsp olive oil, plus extra to drizzle 1 tbsp semolina, to press out
Equipment: mixing bowl wooden spoon baking tray/pizza stone Oven at 220 degrees.
Olushola Fashola, Lecturer, Staffordshire Business SChool
Nuthall
(2019) asserted that the United Nations estimates that between 2% and 5%
(US$800bn–US$2trillion) of global GDP is laundered. The year 2019 saw global
anti-money laundering (AML) penalties going beyond £6billion (actual value was
£6.2billion which is equivalent to around $8billion), with the US imposing
double the quantum of fines imposed by UK authorities (Sweet, 2020). These facts
suggests financial crimes is on the rise, which is a worrying development for
societies, governments, organisations, and individuals. It is therefore
important that some sort of reflection (collectively or individually) be
undertaken by all concerned regarding how things have deteriorated to current
level in terms of emerging global narrative on financial crime. Consequently,
my own lived experience within a socio-economic and institutional context
offers a basis for looking at financial crime through the multiple lens of
three actors – “the vulnerable”, “the gullible” and “the
culpable”.
THE
VULNERABLE
Some
years back I was looking through job advertisements on various websites, hoping
to find a flexible job that will permit me to spend more time with my young
children. I did not search too long before I came across one placed by a
supposedly US based company. Though, the role was described as Administrative
Assistant, the job description was more of a home-based funds transfer officer.
Considering that I have practice experience in banking and finance, I quickly
applied and was very optimistic as to my chances of eventually getting the job.
Just as I had anticipated, I was offered the job. However, mode of operation
triggered some curiosity – the company will pay money into my account which I
shall subsequently transfer to various recipients!
THE
GULLIBLE
The
unusual nature of the responsibilities attached to this job role sent alarm
bells ringing. I contacted the website where I found the job to let them know
of my suspicion that something was not quite right about this company and the
job. The website’s initial response was to dismiss my suspicion, suggesting
there was nothing unusual about either the company or the job. Whilst pondering
as to the genuineness or otherwise of this job offer, I listened to the BBC
money box programme focused on money mules. This made the connection between this
job offer and money mule operations vividly clear. I contacted the website
again, now aware of the prospect of being used as a money mule based on what I
have learnt from the BBC programme. This time, the response was an apology and
commitment to bar the company from using the website. Prioritisation of
corporate social responsibility can help reduce the chances of financial fraud
occurring (Liao et al., 2019).
THE
CULPABLE
Whilst
I did not allow this company the opportunity to pay any money into my bank
account, I wonder how many people they had successfully persuaded into
accepting such payments through their banks. The banking industry is central to
economic growth and development, but also remains a vital part of the carefully
orchestrated dastardly design of financial crimes’ architecture. The growing
evidence against banks with respect to recurring culpability in facilitating
financial crimes is a worrying trend that compounds erosion of public trust in
them since the financial crisis of 2008/2009. Sanctions imposed on banks (see
below) for offences with a bearing on financial crimes bears testimony to
banking industry’s culpability.
Feb
2014: Standard Bank PLC fined £7.6m for failures in its anti-money laundering
controls (BBC, 2014)
May
2015: Barclays fined $2.4bn for forex rigging (Financial Times, 2015)
June
2015: HSBC pays out £28m “compensation” to Swiss authorities over
money-laundering claims (The Guardian, 2015)
November
2015: Barclays Bank (Barclays) was fined £72,069,400 for failing to minimise
the risk that it may be used to facilitate financial crime by the Financial
Conduct Authority (FCA) (FCA, 2015)
December
2019: HSBC to pay $192m penalty in US for helping clients hide $1billion dollar
worth of assets for tax evasion purpose (Financial Times, 2019).
Financial
service regulators may have demonstrated a commitment to ensuring banks do not
act as facilitators of financial crimes through these sanctions, but the
inherent culpability of the financial regulatory system in certain
jurisdictions means that these fines do not address why they have become a
magnet for financial crime. The public prosecutor in the HSBC/Swiss regulator
case as cited in The Guardian (2015) sums up the real source of financial
service industry culpability in financial crime thus:
“When
we have a law that doesn’t punish financial intermediaries accepting doubtful
funds then we have a problem. This problem dates from long before the HSBC affair.”
REFLECTION
ON EVIDENCE
Criminals
adept at committing financial crimes often targets the vulnerable. They are
also very clever at deciphering individual vulnerabilities. Unemployment was a
vulnerability ready to be exploited in this case. However, various other
vulnerabilities can be the focus of the ploy of these criminals. For instance,
search for acceptance and love (BBC 2020), desire to help others and outright
greed, are a mix of vulnerabilities often exploited by advance fee (otherwise
called “419”) fraudsters.
Individuals
or organisations should not think they are above gullibility when it comes to
financial crimes. The website involved in this case is a subsidiary to one of
the major global online platforms. Yet their vetting process allowed this job
advertisement to be placed; and initial response to contacting them laid bare
their gullibility – a failure in their social responsibility obligation to
society!
Banking
industry and its regulatory framework remains an important defence line in
society’s response to combating financial crime (Ryder, 2017). A basic line of
defence where banks had in the past dropped their guards is with respect to
“Know Your Customer” (KYC). This important anti-money laundering requirement
needs full compliance for the global fight against financial crime to be
successful. Specifically, a risk-based approach to KYC practice can help
operators in the financial services industry balance regulatory compliance with
business exigencies. Such an approach can help focus attention on potentially
risky clients such as the politically exposed person (popularly referred to as
PEP). The need for some sort of global regulatory alignment to ensure that
there are no safe havens for illicit wealth (Nance, 2018) will require every
nation to review its laws and ensure that loopholes exploited by financial
criminals and their intermediaries are plugged.
CONCLUDING
REMARKS
Fraud
triangle comprising of opportunity, incentive/pressure, and rationalization
(Cressey, 1953) had received wide scholarly attention, it is perhaps time we
switched attention to actors whose moral gap facilitates financial crime.
Vulnerability, gullibility, and culpability represents a collection of
attributes that helps financial crime to spread like wildfire and the criminals
that benefit from them to take the rest of society for granted. Hence, the need
for every individual and organization to undertake a self-assessment as to
whether they may be tacitly facilitating financial crime as a vulnerable,
gullible, or culpable actor in a dark web that leaves society morally and
economically bankrupt.
Liao,
L., Chen, G. and Zheng, D. (2019) Corporate social responsibility and financial
fraud: evidence from China. Accounting & Finance, 59(5),
pp.3133-3169.
Nance,
M.T. (2018) The regime that FATF built: an introduction to the Financial Action
Task Force. Crime, Law and Social Change, 69(2), pp.109-129.
Ryder,
N. (2017) The financial crisis and financial crime in the United Kingdom: A
critical analysis of the response by Financial Regulatory Agencies. The
Company Lawyer, 38(1), pp.4-14.
Creativity and Innovation Week offers students a huge variety of sessions delivered by academics from both Staffordshire Business School and the School of Digital, Technologies and Arts along with some fantastic guest speakers.
As well as our keynote presenter, Ian Reid – Chief Executive of the Birmingham Commonwealth Games 2022, we will also be welcoming the team from Alton Towers, including Janet Gurr – Hotels and Accommodation Development Director, Neil Crittenden – Commercial Director, Jo Mountney – Divisional People Partner/HR Director and Jason Mumford – Senior Recruitment and Learning & Development Manager.
The Creativity and Innovation Week 2021 is also an ideal opportunity for you to gain additional micro-credentials to enhance your employability. Use this time to take a MOS exam in Word, PowerPoint, Excel and Outlook, or perhaps even all four. This will also help you to save time in future assessments through the use of appropriate presentation tools and shortcuts to complete assessment tasks. There are also 11 LinkedIn short courses embedded into the programme.
To view the full schedule of sessions, click below:
Angela Lawrence, Associate Dean, Staffordshire Business School
This morning I was labelled a geek. I don’t mind being called a geek (I probably am a bit of a geek) but what is interesting is that this label was awarded as a result of me sharing a plan on twitter. The plan for my allotment in 2021.
Now I don’t feel that planning makes me geeky – I’m a big believer in planning and the saying “fail to plan, plan to fail” is one that I use often. I plan a work “To Do” list at the end of each working day, a shopping list before walking down to the shops, I plan holidays months if not years in advance and yes, I plan which vegetables I am going to grow at my allotment and which beds they will go into. That way I can be sure that the soil will be right for them, the light conditions will suit them and that everything grows together in harmony to produce bountiful harvests.
Planning is a big part of business success – we create business plans, marketing plans and project plans in all aspects of our working life. Without things like business continuity planning, risk management, financial planning, many businesses fail to survive in today’s fast-moving work environment. Students are taught planning not only as part of their studies, but also as part of their own lifestyle management as a student – our students even brought together some tips to share with others in this YouTube video.
Some
would say planning has been difficult during 2020 and it’s hard to plan when we
don’t know what we will be able to do. I think this is actually all the more
reason to plan – if plans didn’t materialise, as so many failed to during 2020,
then we suck it up and plan all over again, whether it be a holiday, a
birthday, a wedding or a study plan for the year. What has been bumped from the
top of the list now goes back into the list again for re-scheduling.
Plans give us hope and they psychologically prepare us, they build anticipation, and they demonstrate commitment. When we plan, we mentally get organised and prepare ourselves and this is a good thing – it saves us from stressing about the unknown, relieves some uncertainty and helps us to cope better.
Plans
don’t have to be big, they don’t have to be impressive, they don’t have to be
written down (although I do get great satisfaction from planning on paper) and
they don’t have to be shared. They may not mean a thing to anybody but you, and
that’s just fine. I can guarantee that you will enjoy your planned activities
far more for having planned them and that you will stress less and cope better
with things that challenge you.
Happy planning – you have a whole year ahead of you, LET’S GO!
Staffordshire Business School is a premier centre for business education with decades of experience in providing business courses at the forefront of industry and technological developments. Business planning is integrated into all of our new business courses – click here to find out more.
Are you looking for free support, ideas and a team to talk to that will help your business through the pandemic, Brexit and beyond?
Staffordshire Business School is now delivering free training in leadership and management to help you and your business exactly when you need it most.
When does the course start?
We have two starting dates either:
Tue 12th January 2021 starting at 3pm
Wed 13th January 2021 starting at 3pm
If you would like to have a chat about the course then please email one of our experienced Entrepreneurs in Residence with your phone number and they will call you back,
Why choose the Small Business Leadership Programme?
Make your business more resilient
Boost business performance and growth
Create an innovative and agile organisation
Recover from the impact of COVID-19
Build leadership confidence and effectiveness
Plan for the future of your business
Build lasting relationships with small business leaders
Improve risk management and efficiency
Eligibility requirements
To join the Small Business Leadership Programme:
Your business must be a Small or Medium-sized Enterprise (SME) based in England.
Your business needs to employ between 5 and 249 people and have been operational for at least one year
The participant should be a decision maker or member of the senior management team within the business with at least one person reporting directly to them.
The participant must be able to commit to attending the full programme
Your commitment
The programme is designed to be manageable alongside full-time work. Participants will attend eight 90-minute webinars across ten weeks, and complete up to two hours of independent study and peer-supported learning per week.Places are fully funded by the Government to support the resilience, recovery and growth of SMEs during and after COVID-19. The programme is free to attend, and places are limited.
Register Now
There
are two ways to register. Either email one of the Entrepreneurs in Residence as
listed above or follow the simple instructions below (this takes 3 minutes)
and we will be in touch:
Choose either North West (for 13th January start) OR
West Midlands (for 12th January start) from the pink vertical menu on the left.
Scroll through the list of centres until you find Staffordshire University and the date you prefer & click register. There are some screen grabs in the document below if you need them
Paul Walters, Lecturer, Staffordshire Business School
The event sector which includes hospitality and tourism, has seen a significant decline in commercial activity, since March 2020 and as we come to the close for the year 2020. Many small to medium size business saw a complete loss of business, this included the festival industry which had somewhere in the region of 7 million visitors attending festivals in the UK each year. It is reported, the UK prior to the COVID restrictions had somewhere in the region of 400 plus festivals throughout the UK each year. Even the largest event provider on the planet ‘Live Nation’ experienced financial difficulty and received $500 million from a Saudi investment fund. Live Nation furloughed 20% of its staff to save $600 million and Live Nation artists were informed by the company to take a pay cut. This was a similar situation and mirrored in most cases across the Event Sector.
Companies
within the sector that had Interruption Insurance, attempted to make a claim
because of the Government shut down. The sector will fully understand
what is meant by ‘interruption Insurance’. As some insurance companies
decided to decline claims on ‘Interruption Insurance. Insurance companies
argued that many claims did not specify or have insurance for the specific type
of interruption. However, there was some light at the end of the tunnel,
a High Court ruling on the 15th September 2020 which represented
370,000 policy holders who are some way clearer to an answer and pay out under
their interruption insurance claim. So, what do we learn from this, it is
not just necessary to have interruption insurance but also specify the type of
interruption be that Government shut down, a pandemic and what type of virus,
be that SARS, Zika or any other known type.
Some event companies within the sector made an early attempt to re-engage with their consumers through a different medium. Those that made the immediate change rather than cancel maintained a presence in the commercial marketplace and some saw a significant increase in revenue.
If you haven’t heard of Tomorrowland outdoor music festival, let me refocus your attention. This is a festival that takes place in Belgium and has a 15 year history. In 2019 Tomorrowland had 250,000 attendees at the festival site. When the pandemic hit the global economy, Tomorrowland didn’t cancel or postpone, they created over a period of three months an online virtual festival. Two million people registered for a ticket and 400,000 people received an invite. Some commentators say the industry in the main wasn’t quick to respond to the change to the environment, thus providing a short-term alternative solution for their customers.
In the North East of England, we saw the first licensed outdoor music event that ran for a period of 6 weeks. With a maximum capacity of attendees each day of 2500, contained in their own Covid secure zones, a maximum of six per zone. The event was sponsored by Virgin money as title sponsor. For the event to have a return on investment, a schedule of live performances over six weeks was the only solution.
So, the
question on everyone’s lips, will the event industry recover and what will it
look like in 2021 going forwards.
There is no guarantee for this virus to completely dissipate from society even with a vaccine and we as a nation may experience another rise in transmission during 2021 and possible government shutdowns. The events industry must be flexible and ready to respond to the change in the environment to maintain some financial stability and continued growth. Alternative methods for delivering events should be considered and factored into the planning process with a viable contingency if immediate change is required.
