It has been confirmed that Stratford Upon Avon BID will not be running Stratford Festival of Motoring and Stratford River Festival in 2023. No decision has been taken as regards Stratford Food Festival in the autumn.
The decision to not proceed with the two events in the 2023 BID programme comes against the backdrop of the cost of living crisis, calendar congestion and resource pressures as well as comprehensive feedback from the BID membership and advice from industry professionals.
A spokesperson for the BID said:
“This decision has not been made lightly and follows months of discussions with our member businesses and experts in the field. The cost of running any event in the current economic climate is extremely challenging with massive price increases across the board making many simply not viable financially. Large scale free-to-attend events like these are particularly at risk because ticket prices cannot be raised to try to cover spiralling costs and as other income streams, such as sponsorship and grants, become increasingly difficult to source.
“The cost of running such events started to escalate after the pandemic. Last year we were able to run these large-scale events by partnering with the town’s market operator and putting them on a more commercialised footing. Through post event surveys, a series of meetings with BID sector groups late last year and then a consultation exercise earlier this year some very clear messages emerged. A large number of our members did not like the extension of events to three days, particularly the associated road closures, or the expansion of the market element. Both key to making them financially viable.”
They added: “Very conscious of difficult trading times and the unprecedented cost increases they face in their day-to-day businesses, many members are now questioning the value of major events in business terms, particularly over Bank Holiday weekends and in the summer season, with so many other events already taking place in the town.
“The Festival of Motoring traditionally has taken place over the early May Bank Holiday, only days after the Shakespeare’s Birthday Celebrations. An extra Bank Holiday for the Coronation this year and an already packed town calendar for May was a concern for many.
“The business model of the River Festival in July was particularly questioned. It obviously did not take place during the pandemic and last year the town resources were pooled to run a Jubilee event in the summer instead. Although this is a very popular community event, many members believe the BID should not be running any event that actually draws footfall away from the town centre.”
They went on: “Many members now feel that limited budgets should be spread across smaller projects and events, particularly in the winter months when trading is tougher in a town like Stratford. This is what we will be focusing on during the coming year. We introduced a family-focused Halloween event in the autumn of 2022, which proved popular with members and visitors. We are currently running a similar event for families visiting the town for Easter.
“In the meantime, events will be one of the major areas of work BID does that will be reviewed in the coming months as we draw up our Business Plan for a new BID proposal for 2024 through to 2029. It is apparent to all that we are in a very different business climate to that of five years ago when the current BID plan, which runs until April next year, was created. New times demand new thinking.”
