‘Tis the season to be prudent
It’s starting to look like the holiday season and business don’t go together. Research out this week shows 78% of businesses expect their turnover to either stay the same or dip over the holiday period. Meanwhile, financial company IFG is warning that cashflow can suffer over Christmas due to financial staff being away on holiday or off sick, leading small businesses to the temptation of credit card spending. On top of this, it has been revealed that nearly half of small businesses in the UK won’t be holding a seasonal holiday party this year according to Pitney Bowes.
While there are businesses which will naturally increase their profits over the Christmas period, such as retailers and restaurant owners, these findings show that many will be tightening the purse strings and holding back on Christmas cheer. This seems like a real shame, and perhaps suggests small businesses need to start preparations to allow for the festive season and its many expenses earlier in the year. After all, without a Christmas party or a bonus of any kind, many staff will start to feel demoralised and won’t be inclined to put the extra effort in to helping their companies pull through what could be a less than joyous time of year…
What will you be doing during the holiday season to keep your employees motivated?
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