SMEs up hospitality spend

UK small and medium-sized enterprises still value corporate hospitality as a way of generating business, according to research by American Express. The survey of 109 members of the Institute of Directors (IOD) demonstrated that client entertainment is still popular, with 82% claiming that it helped to fulfil business objectives and more than half of the respondents reporting an increase in budgets over the past 12 months. Just 5% reported a decrease in entertainment spend. "Relationships have always been key to British SMEs and it’s clear that the personal touch is still valued when it comes to signing on the dotted line," said American Express head of account development Karen Penney. "While technology, such as teleconferencing, provides an increasing number of ways to do business remotely, face-to-face meetings are still vital to British business, which is why SMEs are still willing to make this crucial expenditure." IOD chief economist Graeme Leach commented: "Business spending on corporate entertainment is called a jolly, but in truth there is a jolly good reason for it, namely improved relationships and higher sales. In highly competitive markets corporate entertainment can often provide the tipping point between success and failure."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
London venues hosted 37% more events in 2018

London venues hosted 37% more events in 2018

Year-on-year increase from Unique Venues of London shows strong demand for events in the capital.

Why you should design human-centric experiences

Why you should design human-centric experiences

At EMEC19 in The Hague, Kim Myhre of MCI Experience gave an insightful talk on design-thinking in events.

New event producer for HGA

New event producer for HGA

Becky Jones-Williams has previously worked at Event Concept and will work for clients in a range of sectors.

Stagestruck adds event producer to team

Stagestruck adds event producer to team

Sarah Saward is joining the business as a group account director, with responsibility for a portfolio of blue-chip clients.

Incentive review: Club Med Plantation d'Albion

Incentive review: Club Med Plantation d'Albion

With dinner and champagne on a paradise beach, the white sands and the turquoise coral sea ocean of Mauritius are hard to beat.

Premier Events acquires Collective Minds

Premier Events acquires Collective Minds

Acquisition of Leicester-based events agency is part of growth plan to reach £5m turnover and 50 staff.

3 reasons to run wellness incentives

3 reasons to run wellness incentives

Endellion King, incentives account director at Top Banana, makes the business case for incorporating wellness into incentives.

'Procurement and events teams work best when they swap notes'

'Procurement and events teams work best when they swap notes'

Global procurement director of Knect365 Hetal Dassani talks to C&IT about how planners can build bridges for better buying.

ILEA members reveal 'shock' over Fyre Festival failings

ILEA members reveal 'shock' over Fyre Festival failings

Members of the International Live Events Association (ILEA) give their verdict on the event planning disaster of 2017, the Fyre Festival.

Case study: MAN's Apprentice of the Year Awards

Case study: MAN's Apprentice of the Year Awards

Venues and Events International organised an awards ceremony at Liverpool Football Club.

LATEST JOBS