Eurovision Preparation: Financial Planning for Seasonal Businesses


Financial planning for a one-off event works just like planning for seasonal spikes, with cashflow as king and speed vital.

With the countdown to Eurovision 2023 on, Liverpool City Region businesses are preparing to maximise the financial impact of the anticipated 100,000+ extra visitors expected over two weeks in May, before and during the song contest.

With the visitor economy making up 47% of Liverpool’s total economy, accommodation, tourist attractions, restaurants, bars and retail businesses will all be eyeing opportunities. Many of these will need a cash injection, whether it’s buying big screens for a venue to allow Eurovision watch party events, new furniture to increase space and covers, additional budget for a marketing uplift or even bringing in more staff.

In many ways, planning for a once-in-a-lifetime event like Eurovision, is like financial planning for seasonal businesses, with working capital often needed in ‘off peak’ periods to invest ready for seasonal peaks, like summer and Christmas times.

However, with the combination of increasing running costs and fewer options from traditional lenders like banks, securing finance for many seasonal businesses has become more challenging.

Alternative Finance Options For Seasonal Businesses

There are, however, many options available from alternative funders that businesses might not be aware of. For retail and hospitality businesses, Merchant Cash Advance (MCA) is a fast and flexible option, with a 95% approval rate.

Unlike traditional lenders who make decisions based on traditional underwriting of accounting information, MCA funders base their lending on card receipts. This approach also means that repayments fluctuate as a percentage of ongoing card receipts, rather than being a fixed amount each month like a bank, which suits seasonal businesses well.

Asset finance is a solution for businesses looking to make short term investments in bigger-ticket items like tech equipment, furniture or increasing stock/inventory. However, with many options in the market, working with a business finance specialist to find the right deal for you is vital.

In the case of Eurovision and much seasonal planning, speed is usually a key concern and often barrier. Working with a broker that offers own-book lending, like Bathgate Business Finance, is a useful way to overcome these barriers.

Own-book lending, which is not available from most brokers, is a useful option for many SMEs, as decisions are taken quickly in-house without the need to submit to credit committees that exist in some larger funders, making it faster and easier to secure business finance.

If you’re looking at seasonal financial planning for your business and would like to review your options, why not contact the Bathgate team on 0151 625 7323 or email