“The Chancellor’s Statement is thankfully not all about Autumn leaves falling as UK growth forecasts drop and reduction in debt remain stubbornly high. There are some practical measures which should over time benefit Britain’s businesses and consequently buoy their commercial activities in many cases leading to greater use of events to disseminate information, communicate brand messages and show-off their products and services.
And what is good for business is good for business tourism.
These measures in the Autumn Statement include a +25% increase in budget for UKTI, an organisation that the events sector is already actively building strong relationships with to add further value to the trade, inward investment and export potential our industry promotes at conferences and trade shows. There’s also to be an additional investment of £30 million in the GREAT programme, in which the Events Sector already has a stake alongside the promotion of creativity, innovation, culture, music and sport together with the iconic attractions of Britain’s tourism offerings.
The additional money made available for Local Enterprise Partnerships should also help our destination partners where marketing of event venues and services is so critical to their success and strengthens one of Britain for Event’s objectives to highlight the benefits of events in local communities. There is also more money pledged for sport which should manifest itself in more sporting events too.
Investment
Another £600 million investment in scientific research, on top of the £300 million already provided earlier in the year plus support for Aerospace, Advance Manufacturing and Exports should help boost events in these sectors and strengthen the knowledge economy on which Association events so heavily depend.
Reductions in corporate taxes and increases in business investment allowances should incentivise business growth – always good news for business events and potentially encourage more international businesses to locate themselves in the UK growing the potential domestic market base.
Investments in road and rail infrastructure and the dropping of the intended three pence additional fuel duty in January will be valuable too in improving communications with key business destination where conference and exhibition venues depend upon ease of access to attract delegates and attendees.
Of course there’s some disappointment that there are no direct responses to industry pleas on VAT reductions and Air Passenger Duty but if Britain’s businesses can feel that some of the measures will give them a more competitive playing field then ultimately the business visits and events sector will be one of the key beneficiaries as those very businesses step up their commercial activities through the use of events”.
Business Growth
These changes create the right environment for business growth, and which event related organisation’s could use to their advantage to bring growth to the industry.
We’ve no doubt that there will be many in the industry that will not be pleased by much of the content from today’s address, however It is the role of the BVEP to take a long look at announcements of these kind and work with our partner associations to provide positive recognition of the measures that may help their businesses.
To find out more about Conference Centres of Excellence and British Visits & Events Partnership visit our website: http://www.cceonline.co.uk/about_cce/Links
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