Originally written by Timothy Adler on Small Business
Coldplay bassist Guy Berryman and ex-Dragon’s Den star Sarah Willingham have called on the government to back an insurance scheme for the events sector, similar to one already up-and-running for film and TV production.
Business heavyweights including Links of London founder John Ayton and Notonthehighstreet founder Holly Tucker have signed the letter to small business minister Paul Scully, asking for the government to think seriously about an insurance scheme which would repay organisers 70 per cent of their costs if an event is cancelled due to Covid-19.
What’s at stake is an events industry, such as weddings and music festivals, which Prime Minister Boris Johnson himself acknowledged is worth £90bn and employs 700,000 people in the UK across 25,000 businesses – none of whom have had any government sector-specific emergency coronavirus business support, unlike the hospitality industry.
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The group, led by Hugo Campbell and Digby Vollrath, founders of the events planning website Feast It, said an insurance scheme for events planned from April 1 next year would give organisers confidence to plan and promote gatherings.
Nearly two thirds of events suppliers (61 per cent) surveyed by