News – Conference Expenditure
The business case for conferences
The Economist today reports on proposed legislation in America that would prevent companies receiving government funds from hosting, sponsoring or paying for any conferences and events unless the Secretary of the Treasury deems the events ‘directly related to the operation of the business.’ A violation would result in a $100,000 fine plus reimbursement to the government for the cost of the event. The author wonders how the determination of relation to the business would be made. Roger Dow, CEO of the US Travel Association, is quoted as saying, ‘For every case of wasteful spending, we are seeing scores of instances in which the game of “gotcha” has forced businesses to cancel legitimate activities that would have grown their bottom lines and generated jobs and economic growth for local communities.’ Kevin Iwamoto of the National Business Travel Association adds, ‘If you have a strategic meetings-management programme, with goals and objectives, policy-compliance measurement, full visibility into all of the meeting activities going on, and the budget attached to those activities, you can then assess which meetings are more essential to your business and which you can do without temporarily.’
Global Lingo is more than happy to reinforce the business case for such events and conferences. Global Lingo’s transcripts of such meetings can be used as an additional revenue source, as they are sold on to delegates or those unable to attend, or simply to document the relevancy of the event. If you would like to discuss this further, please do not hesitate to contact a member of the Global Lingo team today.