Looking to the future
FOR events companies such as 21CC Group, the effects of the Covid-19 pandemic have been catastrophic. With weddings, festivals and other big celebrations all cancelled or postponed for months, the firm suffered a huge setback.
As director Geoff Crow explains, the coronavirus crisis put all their plans in jeopardy overnight. “Our business is all about bringing people together to celebrate,” he says. “Lockdown has essentially meant that we’ve been unable to deliver any of our services.”
The Scottish company is one of Britain’s most successful businesses in its field, managing events ranging from huge music festivals and public New Year celebrations to smaller occasions for corporate clients. It also has a highly regarded fireworks team and works with clients on special effects.
“We’ve grown 10-fold over the past decade,” says Geoff, who now employs a full-time staff of more than 20 people, plus a pool of up to 50 workers called in for particular events.
Without support from the UK Government during the pandemic, the business would have faced disaster, he says. Fortunately, 21CC was able to take advantage of the
Coronavirus Job Retention Scheme, furloughing most of its staff. It also benefited from Business Rates Support, as well as using a Bounce Back Loan to give it a safety net of cash.
The Bounce Back Loans Scheme has helped small and medium-sized firms borrow between £2,000 and up to 25 per cent of their turnover, with a maximum loan of £50,000. The UK Government guarantees 100 per cent of the loan and there are no fees or interest to pay for the first 12
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