Event management companies across Indonesia have been gaining in prominence. Therefore, many people who plan to start a business there are interested in starting an event management company. However, there is much which they must know before they enter this competitive industry.
Event management companies in Indonesia are involved with the process of planning an event. Event management is sometimes referred to as event planning and meeting planning. In the world of event management, the scope and details of every project will differ. The scope and the details of the project will be dependent on the industry, company size, and other important factors.
Definition of Event Management
Event management can be defined as a form of project management. More specifically, event management is a form of project management which is involved with the creation and development of certain events. Many important tasks must be completed with regard to event management. Some of these tasks include studying the brand, identifying the target audience, creating a concept for the event, working out the logistics, and managing the technical aspects of the event. A successful event management company will require employees who are industrious, possess a diverse range of skills, and have much experience with planning projects and managing budgets. Among the most important skills required are planning, client management, communication, budget management, labor management, and multi-tasking.
There are certain elements of event management which are especially important. These include the planning, execution, and visualization of concepts. Successful managers of events must also be able to work well with clients while also managing a budget properly.
How an Event Management Company Plans an Event
Every event management company, whether based in Indonesia or elsewhere, follows a specific process during the planning of an event. The first step of this process is that of working out the most important details of the event. These include the reason for the holding of the event, the identity of everyone who is directly involved with the event, and the location and time of the event. To ensure the success of the event, the event management company must plan the event with these ideas in mind.
The next step of the process is that of managing the budget of the event. The budget of the event must correlate to the cost limit which has been decided by the clients. The event’s budget ought to include the detailed information and cost of each element of the event.
Event management companies must next begin canvassing. This is done by obtaining sponsorships, raising funds, advertising the event, and networking with important figures within the industry. Canvassing is important for events involving the raising of funds are for social causes.
The event planning company must next set up the event according to the requests and demands which have been specified by the client. To do so, specific requests which have been made by the client must be fulfilled. Once the client’s requests have been satisfied, the plan may be carried out and the event will proceed.
How to Know if One Should Start an Event Management Company in Indonesia
Many people in Indonesia who intend to start a business of their own have been considering starting an event management company. This should not come as any surprise because of the increasing prominence and popularity of this industry. However, not everyone is the type of person who is fit to start and run an event management company in Indonesia.
Indonesia is a country with an extremely large population; in fact, it is the most populous country in Southeast Asia. For this reason, a person who owns an event management company based in Indonesia ought to be someone who is able to handle the requests and demands of a great many people who are interested in the event which the company has been planning.
Anyone who does not have the proper certifications, permits, and licenses is also not fit to start an event management company in Indonesia. Only those who are suitably qualified ought to start their own event management business. Fortunately for those who are interested, there are certification courses which exist in Indonesia which may be completed by anyone seeking the appropriate certification. It is also not difficult to obtain any necessary permits and licenses which are related to event management in Indonesia.
Due to the fact that Indonesia is a large and diverse country, it is especially important that an event management company based there understands its target audience. A failure to fully grasp the demands of the event management company’s target audience in Indonesia would therefore cause the company to miss out on a large swathe of potential customers and thus a significant amount of revenue.
Event management companies in Indonesia usually specialize in events of one of four different categories. These categories are those of promotional events, celebrational events, commemorative events, and educational events. Promotional events tend to have a more casual tone while also including informative content. Product launches and political gatherings are classified as promotional events. Celebrational events are, as implied by their name, held to celebrate a particular occasion. They are the most casual of all event types. Commemorative events tend to be formal because they are held in remembrance of important events and figures. Many public and civic events are classified as commemorative events. Educational events are the most formal of all event types; they typically include a great deal of information. Meetings and conferences are examples of educational events.
Most of Indonesia’s event companies typically manage events of a certain type before they consider the time for expansion to other event types to be appropriate. Such companies do so in order to avoid placing an excessive strain on the resources of the company. This is due to the fact that event management companies involved in many different types of events require additional staff members and resources due to the differences which exist in the nature of such events.
A suitable business plan for the event management company must also be created. This is to be done in order to inform the decision-making process of the company. Those who plan to invest in the company will also better understand the intentions behind the company’s establishment if they know about the business plan. Once the business plan has been created, the actual establishment of the event management company may begin. This will include the registration of the company, opening of a corporate bank account, and obtaining of any necessary licenses before the company begins its business operations.
On a related note, we at Paul Hype Page & Co are known to provide high-quality incorporation services for prospective business owners in Indonesia. Our incorporation team will put their vast knowledge and business savvy to use in order to enable your company to be established without any problems. We will also contact any authorities on your behalf if you deem such to be necessary.
Cost of Starting an Event Management Company in Indonesia
There is no set cost of starting an event management company in Indonesia. There are various factors which affect the cost of doing so. The cost of starting an event management company will depend on the cost of living in the region of Indonesia in which the company is located. The decision of the business owner to either work from home or rent an office space will also affect the cost of starting the company. Other factors which affect the cost of starting an event management company in Indonesia include salaries of employees, costs of equipment and advertising, insurance costs, taxes to be paid, legal and accounting fees, licenses, and any other expenses which must be made.
A well-crafted financial plan is therefore required to ensure that the company remains in a viable financial condition at all times. This is one area in which we at Paul Hype Page & Co are able to offer our services. We are always willing to assist you with the financial planning of your business. We will see to it that the financial plan which we help you create will lead to the long-term financial success and stability of your event management or any other Indonesia-based company which you own.
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Starting an Event Management Company in Indonesia FAQs
The standard corporate tax rates applied across Indonesia are also applicable to event management companies based there. For this reason, Indonesian event management companies are to pay corporate tax at a rate which is the same as that of other companies in the country.
According to the latest figures, the three most expensive cities in Indonesia are Balikpapan, Jakarta, and Jayapura. Therefore, prospective business owners should proceed with caution and pay close attention to the state of the business’s as well as their own finances before choosing to start a company in any of these three cities.
All company ownership by foreigners in Indonesia is regulated by the Negative Investment List. According to the latest specifications of the Negative Investment List, foreigners are currently permitted to own Indonesia-based event management companies.