New safety net gives festivals financial options to avoid 11th hour bailouts from city council
Ottawa Business Journal – Ontario, Canada
When Ottawa’s festival season officially launches later this month, organizers will be backed by a self-administered financial safety net that some say introduces a new level of sustainability into the sector. This will be the first full year Ottawa’s fairs, special events and festivals can borrow money from a fund, formed jointly by the city and the industry, to help sustain them through cash flow difficulties and emergency situations. “It really shows confidence in our industry, for us to be able to manage as any other business would even though we do have differing needs than your average business operation,” says Barbara Stacey, the executive director of Ottawa Festivals, which represents 41 fairs, festivals and special events.
Read Story at www.ottawabusinessjournal.com
Tags: Barbara Stacey, City of Ottawa, Ottawa Festivals
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