How much will Christmas cost your business?
With the Christmas period now in full swing, and Black Friday done and dusted, many businesses may be rubbing their hands together in expectation of an increase in profits. However, this infographic from Stay Sourced reveals some surprising statistics that could leave business owners rethinking their attitude to Christmas profits and spending.
Based on a survey of UK business professionals, the infographic delves into the areas that can all contribute to a loss of profits at Christmas. Factors such as the Christmas party, gifts for clients and employees, and company downtime can all make a big dent in business spending, and make the festive period perhaps the most expensive time of the year for businesses.
However, it’s not just the presents and parties themselves that can cause the monetary problems, but also lack of planning. The infographic reveals that most companies spend a marginal amount too much on the Christmas party to qualify for a tax exemption, something that reveals a fairly large lack of foresight. Again, the majority of businesses don’t plan for downtime, despite the costs the infographic shows this causes.