One of the most complicated things is to make sure a corporate event that you’ll be handling becomes a success. The biggest responsibility over you will be to make sure the event is a success in the budget that you’ve planned out and that it doesn’t exceed the budget in any way. But the hard part is planning out that budget, especially if that event is either a marketing campaign or a huge company meeting in Dubai. And the most important step is to keep in mind if you will be financially rewarded by the event or not. If you will be, make sure you keep a balance of how much you’ll be rewarded and how much your budget is planned out.

Basic expenses for a corporate event in Dubai

Starting out with the preparation of your budget, you need to know what your expenses actually are. Although it seems you have it all planned out in your mind, listing them out should be your first priority because if you forget anything at the last minute, it can be a problem for you. In case of a corporate event, make sure these expenses are well thought out in the budget:

• Venue cost
• Combined cost of extra accommodation
• Costs for presentation printouts
• Equipment costs (All sorts of extra equipment)
• Decoration costs
• Marketing costs
• Staff costs (Includes everyone from the doorman to the bartender)

What you get back from your investments

Getting all the above on a checklist can provide you a rough idea of the budget. Now to keep in mind what you’ll be getting in return. If the agenda of your event is to educate people, then it will be very difficult for you to calculate the profits from the event as they won’t really be financially comparable to your budget. However, if you’ll be charging a fee to all the people that will be a part of the event, then make sure you calculate the total outcome that you’ll be getting and compare it with the budget of the event. Make sure that the price of the ticket is just right. Neither too high, nor too low.If it’s too high, you won’t be getting a lot of attendees which will at the end be a huge financial loss to you. Make sure the ticket is targeted at such a price that at the end of the event, you gain some profits.

Tips to cut down the budget

So do you think there is no room in the budget for additional stuff? Well you can always alter your budget in a way that it gets back to the amount you had planned out. Don’t know how to alter your budget? We’ll help you.

• Don’t spend on anything stupid – This is probably the most vital point to consider when planning out any sort of event. Avoid wasting any money. Spend on the important things needed first, and then look towards other things. Even then make sure that you aren’t spending on something unusual and useless.
• Keep the costs for catering low – Keep your catering budget at just the right mark. When hosting an event, most people order an outrageous amount of food so that no one gets short of food, but that usually ends up as a waste of money and food. Talk to your caterer and set up the menu exactly according to the amount of people that will be a part of the event.
• Keep an eye on the management – You may have set up different people for paying bills and pay them accordingly. Make sure nothing extra is spent in that process. Keep an eye on all the expenses and make sure no one is paid anything extra than what you’ve planned out. Keep the budget intact at all costs.

These tips will give you a huge insight on how you manage events in Dubai. Keep working on the budget and try to contract the final amount into something that suits your pocket well. Make sure that the management you hire for the event is proven to make your event a success. Just follow the points mentioned in this article and your event will be on its way to success.