The average cost of Christmas for SMEs is upwards of £20,000 according to new research released today from TalkTalk Business.
The survey of 1000 SME business decision makers discovered that festive treats such as the office Christmas party, staff bonuses and closure during the holidays remain high priorities. It revealed that 37 per cent cited the office Christmas party and staff bonuses (25 per cent) as two of the biggest financial spends to the business at Christmas, emphasising the SME community’s commitment to working culture and team morale.
However, as a result, two thirds of SMEs are faced with “mortgaging” January and February to pay for the festive season with 70 per cent admitting that the festive period is by far the most costly time of year – with 42 per cent believing that office closure is greatest financial cost to business at Christmas.
Christmas is not only an expensive time for consumers, but for small businesses too. While company morale is important, businesses shouldn’t have to mortgage the New Year in order to enjoy Christmas. Instead, decision makers need to demand better value for their businesses, from institutions and suppliers, throughout the year.” explains Charles Bligh, Managing Director of TalkTalk Business.
Bligh continues, “Broadband is a great example of this. With 47% of SMEs revealed to not be getting value for money from their broadband provider, businesses need to demand more. Ensuring companies get great value and quality of service for their business is one of the first steps to smart budgeting. Only then will SMEs truly be able to drive growth over the next 12 months.”
TalkTalk Business has recently launched its Complete Fibre Broadband package. For a fixed monthly fee of £10.50 and a saving of £880 over 24 months in comparison to BT, TalkTalk Business customers can enjoy unlimited broadband connectivity and calls, along with UK-based support, WorkSafe internet security at no hidden extra costs. It is part of the company’s commitment to championing small businesses with the value, quality and reliable connectivity which they need to succeed.