Lydia, Events Manager, Leeds.

• Sector: Events Management

• Business Size: Small, 8 employees

• Location: Leeds

• Experience: 12 years in the industry

• Impact: Late payments from clients after large events make it hard for Lydia to pay freelance contractors. This has tarnished her reputation and strained relationships with reliable partners.

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“I’ve been running my events management company for over a decade now. We handle everything from weddings to corporate functions. Last year, we organised a big conference for a tech company. The event went off without a hitch, but they delayed paying the invoice for four months. That was £15,000 I was counting on to pay suppliers and freelance contractors.

When you work in events, your reputation is everything. I had to stall payments to some of my best contractors, and a few of them refused to work with me again. It’s hard to blame them—why should they trust me if I can’t pay on time?

I also had to dip into our marketing budget to cover immediate costs, which meant fewer bookings in the following months. It’s a domino effect. One late payment can knock everything off course for months.

Since then, I’ve started requiring deposits and final payments before events, but not all clients are happy about it. It’s a balancing act between protecting my business and keeping clients satisfied. Late payments don’t just hurt financially—they damage relationships, which are the backbone of this industry.”