Running a startup and expecting to rake in the profits this Christmas? Think again. As this infographic from Stay Sourced shows, if you don’t approach the festive period with money saving at the front of your mind, you can expect to pay some hefty costs.
Judging from the ever increasing consumer costs of Christmas, it can be easy to think that at this time of year businesses can just sit back and let the money roll in. However, factors as varying as downtime costs, employee morale, and the Christmas party can all serve a heavy blow to reducing annual profits.
For example, small to medium sized businesses in the UK lose an average of £11,500 a year due to downtime; a substantial amount for any company. Only 62% of businesses Stay Sourced interviewed had a plan for dealing with downtime, showing the dire effects that lack of preparation in the months preceding Christmas can have.
The research Stay Sourced conducted also delves into employee attitudes to Christmas; in particular, what they think of the way their workplace handles the festive period. Unsurprisingly, the majority of those surveyed would enjoy receiving a gift from their employee. However, it’s perhaps surprising that some of the most favoured corporate Christmas gifts are also the most practical; office items such as coasters (click here), pens, and mugs were all appreciated by employees.
If you’re a start-up or small business owner, it’s worthwhile taking a look at Stay Sourced’s infographic, as It may make you think about some of the ways you can save money this Christmas.
