blog 3

Blog three

Petty cash

There should not be any cash needed at the Hull Media Showcase event, the venue, refreshment for guest and equipment should have already be paid for. While the bar at the venue should be opened for any guest wishing to purchase further drinks from the one provided, this will fall under the responsibilities of the venue manger(s) which Hull media showcase would not pay or be responsible for.

Fees

Event Scotland (2006 P: 66) advice to avoid paying fees at the event, but paying before as this would make the event preparations much easier and also for security reason. Paying in advance will have it privileges as event Scotland have pointed that it gives you security, for example, not paying the florist in advance would give him/her an option to opt out of delivering on the day of the event, however advance payment means that you have a contract and the person had to deliver as promised.

“Ensure you get a proper receipt for any cash payments” Event Scotland (2006 P: 66), this is an advice Hull media show case will be following as receipt is a prove of contract/bound between Hull media showcase and the seller  which will save time and money if anything goes wrong.

Security

Hull media Showcase will run from mid evening to night time, the could increase of risk of petty theft however none of Hull Media Show staff will be collecting money or paying fees on the night so this should reduce the risk factor of been robbed on the night of the event. Hull city previously had the highest crime rate, however Hull daily recently reported in 2012 that Hull saw a 14% decrease in crime.

http://www.thisishullandeastriding.co.uk/Crime-falls-14-Hull-10-East-Riding-official/story-17111823-detail/story.html#axzz2LkDQZYF4

 Entrance sales

At the moment Hull Media Show is still debating if adding an entry fee is an appropriate move considers the audience. 
It is important to get a realistic ticket price, one that will make sure that the both the event manger and guest are satisfy. As the aims of this event is not to make profit but to entertain our guest, meeting the guest's needs and expectation are far more important  more so if there is an entrance fee. 
Making sure that the audience gets value for money and does not feel cheated is highly important as thus could determined wither they are going to attend or not.

Research into Previous Hull college final year showcase (2012 BA graduate) event have not charged an entry fee.

the stall holders however will be charged for their stalls which should be clearly stated in all document sent out as Scotland events advice on page 74, this will not only act as evidence in the case of a disrupt but will also ensure that all parties are in the same page about what is needed from whom. Including a when and how of payment will ensure the money is collected on time. All dealings with money should also be recorded so it can be accounted for.

Public funds 
getting the support of local authorities can help the event be more effective and successful. Scotland (p: 75) events suggested that "events supported locally are more likely to be susbantial in the long run as they fit with local strategies”. 
Hull Media Showcase has been liaising with Hull bid trying to persuade them to not only contribute or attend the showcase but to get involved. Even if this just to include their name on flyers and information packages for the showcase.  As one of the aims of this showcase is to make this less a student event and more towards a respectable young professional event, hull bid name and involvment will encourage this and will also help sway the minds of other business to get involvement.

Part of hull bid’s mission is to bring more events and entertain to the city centre of Hull, “In addition to supporting such major festivals such ast the Freedom Festival, Hull BID has organised its own activities to keep the city on the entertainment map” (http://www.hullbid.co.uk/page/marketing-and-events).

Hull bid helps to support both small and large event that will help put Hull on the map. The Hull Media Showcase is an event that aims to do this; we are aiming to invite influential business men and women from both inside and out of Hull to the networking and showcase event.

While Hull bid might not be able to help finically, however there are other provisions and service in kind that go a long to help towards the event as mentioned above. Hull bid works with big and small business that gets new letters and emails from them, spreading the words/invitation out to some of these business would benefit the HMS event as these small and large business are the targeted audience for this event.  

Scotland event (p: 75) events however also highlight some negative attribute to having a sponsor or stakeholder, one of them been that authorities are “unlikely to be the sole investor in your event”. With this said, all HMS event member have all agreed to invest money and their time to organise the event so any authority wanting to invest will not be a sole investor.

Another point made by the Scotland events (p;75) is that the investors/sponsor will want something in return or might be wanting to change the programme, this would result in changing the event’s purpose and aims. Scotland events (p: 77) advices event organisers to make sure that they research potential sponsor and investor to ensure that the event and the investor has the end game and objectives because “when a company sponsors an event it usually means that it provides cash for a number of benefits”

Commercial sponsor

Some events have to hire out a professional to look for potential sponsorship and stallholders and there are some benefits to hiring out a professional.  a professional would have lists of contacts which will be more effective than having to research contact details, however as this is a small event with a small budget, one of the members has been elected to research and look into sponsorship and potential stall holders at the event. This is save the event from hiring out a third party and also save the event money.