Marketing budget and how to spend it on OOH
It’s coming towards the end of another tax year.
Perhaps spending your marketing budget this tax year has been a little unusual.
Maybe you’ve just spent on areas that made sense in lockdown because that’s where people were; digital, TV and radio.
The advertising expenditure has reportedly taken at £1billion hit during the pandemic. McDonalds massively cut their budget until they were ready to launch a strong new campaign that was designed for the pandemic; home delivery.
But there’s a nation full of hope and a range of incentives available from the government that should help you put your marketing money back to good use.
Advertising has always been a cost to a business that meets the criteria for tax relief as it’s considered an essential spend.
If you are looking to receive relief that has been announced in the Chancellors 2021 budget then perhaps not having as much cash in the bank will help you access this. Marketing spend, spent well, is always going to help your business. So perhaps it’s something to be considered as a wise investment?
There’s lots of marketing grants available too; perhaps have a chat with your local LEP, Chamber of Commerce or even your accountant. The recognition that businesses thrive with marketing is more helpful than ever to advertisers and those of us who offering advertising media options.
Whilst advertising spend is set to bounce back in 2021 you can still get that tax relief for advertising spend if you spend it RIGHT NOW (we can help there!).