The Christmas gold rush

The final, nerve-jangling Christmas rush is upon us, after which many businesses can finally relax, at least for a few days.


The final, nerve-jangling Christmas rush is upon us, after which many businesses can finally relax, at least for a few days.

The final, nerve-jangling Christmas rush is upon us, after which many businesses can finally relax, at least for a couple of days.

Thankfully for profit margins, the majority (65 per cent) of small businesses do not feel forced to offer a discount for their goods and services in the run-up to the 25th, according to our poll.

This is in contrast to many high street giants, with prices cut by as much as 80 per cent in Debenhams, 60 per cent in Argos and 50 per cent in John Lewis.

According to predictions from accountants PricewaterhouseCoopers, shoppers will generate £4.5 billion in ‘last-minute spending spree’ sales this weekend. Hopefully this rush will make up for a disappointing November where sales rose by just 2.5 per cent on the previous month, described as ‘below par’ by the Confederation of British Industry.

Overall, it’s been another difficult year for small companies. A sluggish economy and inept government legislation have helped put the dampeners on prospects for business growth.

However, there are promising messages to take into the new year, particularly for recently-started companies. According to Bibby Financial Services, businesses set up in the past six years are in fact performing well in many areas of trading, with 37 per cent reporting an increase in new customers, compared to 25 per cent of SMEs that started more than 30 years ago.

However, achieving finance is still an issue looming large as the research also reveals that almost a third, 30 per cent, of businesses are relying on personal savings or loans from friends and family as a source of funding.

Whatever 2013 brings for you and your company, we wish you all the best for the new year and hope you have a relaxing and fulfilling Christmas.

Related Topics

Leave a comment