HR Management on: Cultural projects and events
Question: Cultural projects and events are often funded through government grants and private sponsorship. What are the differences and similarities between these two funding sources? Do they have difference impacts on the development and implementation of a cultural project or event?
The cultural projects & events are often funded through government grants and private sponsorship. The major similarity between government grants and private sponsorship is that in order to make a cultural event successful, high levels of funds would be required. The major funding sources includes the private funds, grants by the government, local, state & federal government, etc (Evans, 2012). Therefore, government grants & private sponsorship refers to the types of funds which might be used to make the cultural projects a big hit. The main difference between the two types of funding sources can be studied with respect to the party involved in doing it. Government Grant refers to a financial award which is given by the federal, local or the state government up to a given amount. The grants provided by the government are not to be repaid by the recipient. The application process in order to qualify for the same is quite lengthy as compared to private sponsorship. Private sponsorship is done from an organization in order to make the entire fund or project successful. Both funding sources do not have anything in specific on the development and implementation of a cultural project or event. Some of the events or projects which provide private sponsorship would be in case of Racing events, athletes, sports events, etc. Whereas government grant is majorly provided for art & craft exhibitions, religious events, etc (Evans, 2012).
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