As the clocks spring forward and we all start dreaming of warmer weather and lighter nights there is a real buzz building around the forthcoming festival season. Having been hit hard with a lack of events for the last 2 years, there is great optimism that this year will see the festival scene return to its former glory. Of course, we cannot rely on the Great British weather, but no matter whether the sun is shining or the rain is pouring the public will revel in the delights of live music from folk to jazz and from pop to rock once again.
The plans for iconic events such as Glastonbury, Leeds and Reading festivals are gathering momentum. However, there are also several community events being introduced which will see traditional village fetes, local music festivals and country shows being promoted.
One of the major positives of the festival season is the revenue that it can bring for all those small businesses that operate at the events. The local food vans selling homemade food, the barista’s selling coffee out of their mobile units, the marquee suppliers who rent out their portable coverings and of course everybody loves to see the Ice Cream vans.
The team at NGI Finance have seen a real surge in the need for business finance to help prepare for the festival season. Businesses are needing to purchase new equipment, lease new machines and increase headcount with temporary staff. All these commitments mean one thing, a business needs to increase their cashflow and the ability to access business funding such as asset finance, business loans and invoice finance is vitally important.
Suppliers within the hospitality sector are also exploring franchising. Growing a business through a franchising model can yield real financial benefits and provide the potential for entrepreneurs to start up their own business (whilst being backed by a successful business and support infrastructure). Our sister company NGI Franchise Funding are on hand to offer advice and guidance for anybody wanting to explore the benefits of franchising.
Sadly, we won’t be able to help with the weather at the festivals, but we can certainly help to ensure that everybody has the right finance in place to make every event the very best it can possibly be. If you have any questions, please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.