old clocksTiming matters for business events, too: "You can cut the cost based on when you hold your event," says Rodriguez. For instance have a lunch rather than a dinner event. "Lunch is less formal and typically there is less alcohol served," she says.

The day of the week is also a factor. "We have many events planned from Tuesday through Thursday," says Rodriguez. "If you can be flexible, Friday through Sunday are great days to book a corporate event— and at your preferred time."

Forgo formal gatherings: In business entertaining, trends mirror those of social events: Everything is more casual, these days. "Rather than a formal sit down dinner, you might want to consider an event centered around a heavy hors d'oeuvres reception," she suggests.