The cost of scrapping parties at Christmas

Business owners looking to follow the BBC’s lead and scrap a Christmas party this year should consider the impact not only on staff morale, but on the events industry and the small business suppliers within it.

Events company Concerto Group estimates that the total Christmas Party market is worth about £1bn a year. Of its 350 clients that held parties for their staff last Christmas, 18% have decided to scrap the event this year while half say they are undecided.

Chairman Mike Kershaw says: ‘I expect that a lot of the undecided clients will end up doing nothing. This could mean the industry taking a hit of between £350 million and £500 million.

‘This includes lost revenue for businesses such as caterers, drinks suppliers, taxi firms, venue managers and providers of music and entertainment.’

Phil McCabe of the Forum of Private Business says: ‘These events do not exist in isolation and there are implications for businesses and jobs.’

‘There is often a perception of festive events as boozy and overindulgent, but it is important for staff morale to say thank you to your employees by throwing them a traditional Christmas bash.’

Source: This is money

Tags: Concerto Group, scrap a Christmas party

Category: Event Industry News