In these days of auterity we thought it might be useful to give you some tips on how to get the most for your money:-

• Be flexible!

Choosing a different date or day of the week may save you more than you think - venues may offer a better rate on a Monday than a Thursday for instance.

• Inclusive packages!

Venues have differing inclusive items on their daily delegate rates (DDR) so try to pick the venue that is closest to your requirements to avoid additional A/V costs.

• Get creative to achieve the wow factor!

For example, instead of offering cocktails for all the guests, get them to make their own on an interactive bar.

• Stay in the office!

Have your team building day on site at the office or locally; the cost of all the guests travelling to a different location needs to be taken into account.

• Recycle marketing materials!

If you are producing marketing material, if possible make it non-event specific so that it can be re-used.

• Use technology!

You can hold a virtual meeting or look for existing apps for activity ideas.

• Get a sponsor to pay for it!

If appropriate offer sponsorship opportunities to companies in order to cover some of your costs.

• Stick to your budget!

Know your costs and choose your suppliers accordingly. If you have a free bar, agree a limit with the venue and get them to advise you once you are close to that limit.

• Check the fine print!

Ensure that you know what is included in your contracts with suppliers and when you will incur extra costs so you can avoid them.

• Negotiate!

All businesses are feeling the pinch, so it is worth seeing if your suppliers are willing to offer any discounts for things such as paying the invoice within a fortnight .

Don’t forget your time costs money as well.