Gladly, I can say that the event planning industry is a thriving one worldwide. It is considered a billion dollar industry, with a stable spot within the entertainment industry. However, like everything else new trends, topics and ideas are being established in order to appeal to a more technologically and modern audiences.
According to the article, Green Grows the Greenbacks: Some caterers Boost Revenue with Eco-Friendly Practices, on the magazine Special Events, reported that
“Though the green practices themselves—such as cutting energy use and trash-hauling costs—tend to be revenue-neutral, Cuccaro says, the big payoff comes from green-minded clients. "We definitely pick up more business as a result" of green practices, he says.”
This is a very good service event planners can suggest their clients who are on board with green events. Not only are helping the environment but we are creating conscious events that are modern and appealing to new modern clients. New trends are always emerging is up to event planners to be constantly researching new ways and techniques to create one-of-a kind events that are appealing to the always changing entertainment industry.
As a recent college graduate I have learn the importance of research and thinking outside of the box. It is important to understand the industry, know what and how things are being done. This is the only way to make yourself stand out from the competition, in addition this way you or your company will always have a competitive edge. Learning about all the different components that make a successful event has definitely given me an advantage over those already established companies that have stayed behind.
As we all know the business industry is currently undergoing a global crisis. However, investors and other investing organizations are willing to fund potential ideas. Amazingly, there are numerous ways of acquiring funding for a new venture or for expanding already successful businesses. Sometimes funding will come from the most unexpected places; all you have to do is do the correct research.
For the last couple of posts we have established the importance of having and/or creating a business plan. We have also stated that one of the most important areas of the business plan is the financials. Now, after completing your business plan your next step is to begin looking for investors.
After doing some research myself, I have stumble upon some organizations that have very successful financing opportunities. The National Committee Investment Fund (NCIF) is one of these organizations. The National Community Investment Fund is a non-profit, private equity trust that invests in banks, thrifts and credit unions that generate both financial and social returns. To be considered a CDBI, an institution must focus a substantial part of its business on low- to moderate-income people or communities.
“NCIF invests in CDBIs that display both strong financial and social performance. To determine if an institution meets these criteria, NCIF evaluates the institution using a Development Impact analysis as well as an internal CAMEL analysis. In addition, the institution must also provide a planned exit strategy.”
The CAMEL analysis is explained in detail on the diagram to the left. If you meet NCIF’s qualifications make sure you look for more information on the requirements and the steps to take in order to be funded by the NCIF. For more information on the national Committee Investment Fund you can click here.
Another help for small businesses, especially Micro-businesses is the AEO, Association for EnterpriseOpportunity. AEO is a national membership organization and voice of microenterprise development in the United States. AEO's management team is focused on working with our members and partners to pilot new initiatives. One of the new initiatives is the Catalyst Initiative;
“If one in three microbusinesses in the United States hired an additional employee, the US would be at full employment. If this possibility is to become a reality, the economy must continue to show signs of a rebound so that confidence recovers, demand grows, and companies can bounce back. At the same time, there is an urgent need to reduce costs to reach micro-businesses and to invest in the capacity of the non-profits that are uniquely positioned to meet needs of LMI business owners.”
This initiative can also be applied for non-profit organizations. Other initiatives include “green” companies and minority audiences. If you think you can apply for this or any other initiative or for more information on AEO funding feel free to browse the AEO website by clicking here.
As you can see different organizations have taken on the task of helping enhance the professional world. Helping new and/or established entrepreneurs achieve success. Make sure you continue to do research and look for investors. As you can see they are out there looking for devoted, hard-working people with successful ideas. Good Luck!