Guilds are so-called because members are required to pay gold (money) for their continuing membership of the organisation. The membership subscription for City of London Guilds and Livery Companies is called Quarterage and was, historically, collected on the Quarter days (Ladyday, Midsummer, Michaelmas and Christmas).
Quarterage is due from all Freemen Entrepreneurs and forms the lion’s share (budgeted to be 80% in 2018-19) of the annual income of the Guild of Entrepreneurs. In addition to the Clerk’s salary and running costs of the Guild, Quarterage allows the Guild to:
- ticket events on a costs-only basis;
- issue and reciprocate City invitations (including the Lord Mayor and Sheriffs);
- host representatives and speakers from partner organisations;
- provide financial support to the Guild of Entrepreneurs Charitable Trust; and
- sponsor Guild awards for students and fledgling entrepreneurs.
The Quarterage due for the period 1st December 2018 – 30th November 2019 is £396 (discounted to £380 if paid in full on or before 1st December). Many Freemen pay their Quarterage monthly – please contact the Clerk for more details.
The Guild is a charitable organisation and cases of genuine hardship are considered by the December Court. Please ensure that the Clerk receives full details (in confidence) by 28th November 2018.
By convention, Quarterage is discounted for the first year only for candidates approved for the Freedom of the Guild mid-way through the year. The discount is 75%, 50% or 25% for candidates who are approved for the Freedom of the Guild after 1st September, 1st June or 1st March respectively.