Are you planning an international conference in Holland? Then I’m sure you are interested in the following information. Did you know that the Pre-financing & Guarantee Fund can help you pre-finance and/or insure your event, with no additional costs?
When you organise a conference, you have to consider various matters beforehand. After all, even before you receive the registration fees, you have to incur costs. You have to set up a foundation, you have to pay a deposit for the accommodation, and for making brochures or creating a website. In addition, it is uncertain whether the numbers of attendees will meet with your expectations. The Pre-financing & Guarantee Fund (VGF) is intended to give organisers of international, multiple-day conferences in Holland increased financial security. The fund offers two separate schemes which you can use separately or combined; a pre-financing scheme and a guarantee scheme. These schemes encourage organisers to realise conferences. And that benefits several markets in our country. For instance hotels, taxi’s and restaurants.
The pre-financing scheme
As the registration fees will not be received until later, the organisers may not always be able to fund initial expenses like accommodation, marketing tools and a website. The pre-financing scheme of the VGF can help to pay these costs.
Conference organisers may apply to the VGF for an interest-free loan, free of charge; a kind of subsidy scheme for conferences. The loan is capped at € 90,000, with the actual amount depending on the size of the conference and the liquidity forecast.
The guarantee scheme
Most of the income, apart from possible sponsoring, comes from the registration fees of the attendees. This is exactly where the main risk lies for organisers. If the attendance level falls short of expectations, this yields less income, which will impact the overall conference budget.
In order to minimise this risk, the VGF offers the possibility of a guarantee. This guarantee allows the conference organisation to guarantee that the event will take place, in spite of possible disappointing numbers of attendees. The guarantee is capped at € 90,000, and the actual amount depends on various aspects, such as the size of the conference, the history of the conference, possible sponsoring, and the overall budget. Moreover, the budget must have been drawn up competently.
About the Pre-financing & Guarantee Fund (VGF)
The VGF was set up over 25 years ago, and was an initiative of the Netherlands Board of Tourism & Conventions (NBTC), the Ministry of Economic Affairs, and some twenty organisations in the Dutch conference industry. The aim of the fund is to encourage organisers to hold their conference in Holland.
Would you like more information? Fill in the contact form or find the telephone number and email on the website.