Fireworks in doubt

8:15am Friday 22nd August 2008

Comments (6)   Have your say »

CASH-strapped Winchester businesses are cutting back on sponsorship because of the credit crunch, throwing the future of the historic city's annual charity fireworks into doubt.

The show raises thousands of pounds for Hampshire charities but is reliant on sponsorship from local businesses to cover its costs.

Organisers from the Round Table report city firms are so hard up due to the current economic climate, that they are unable to support it.

It's just the latest way the credit crunch is showing its teeth in Hampshire, after official figures last week revealed 1,004 homes are the subject of repossession orders in the county - a 14 per cent rise on last year.

A succession of Hampshire finance firms have also collapsed as a result of the economic slowdown, while house builders have laid off staff and called a halt to projects.

Now, public events reliant on business backing, look like they could be the latest to feel the pinch, with even high-profile international sailing regatta Cowes Week reporting difficulties finding a sponsor.

Round Table member Steve Lewis said: "When all the business people are having to run a tight ship, you can't just go along and ask for fouror five-figure sums.

"It's a real eye opener as to how it affects day-to-day community stuff.

"We're pulling our hair out at the moment trying to think of ways and means of getting the money."

Belgarum Estate Agents, which has been the event's main sponsor for the past few years, is still sponsoring the event this year, but is no longer the main sponsor, and no other companies have come forward to assist yet.

John Leeson, managing director of Belgarum and last year's bonfire chairman of the Round Table, said: "We've been the main sponsor for about four years now and would like to give someone else the opportunity."

Mr Lewis said that few Winchester businesses have been able to offer considerable sums in support, and that there was a strong possibility the event would have to be axed.

The event, which costs around £16,000 to stage, is funded by corporate sponsorship and sale of programmes.

● To find out more about sponsorship opportunities call Steve Lewis on 07768 578000.