Christmas Party Blues for Britain's Small Businesses
Released
on: December 02, 2009, 12:39 pm
Author: uSwitch.com
Industry:
Human Resources
It’s been a tough year for Britain’s small businesses, but even with the end in sight, hardworking business owners and staff are not in the mood to party. Almost half of SMEs (42%) are not going to have a Christmas party and 46% will not be paying any bonuses, according to new research from uSwitchforbusiness.com, the dedicated SME price comparison and switching service.
80% of SMEs have found 2009 to be a tough year. As the impact of the recession
took its toll, 58% of business owners were forced to find ways to cut costs and only
a third (33%) were able to leave staff perks unscathed. And it seems that 2009 is
going to end on the same sombre note, with business owners keeping a tight lid on
celebrations and bonuses so that they can continue to balance the books.
Staff may be disappointed, but in the longer term there should be much better
news. 43% of small businesses can see some signs of economic recovery. As these
greenshoots strengthen jobs should become more secure, companies will be able to
ease back on cost cutting and hopefully be in a position to start rewarding loyal
workers again.
Jake Ridge, SME expert at uSwitchforBusiness.com, says: “2009 has been a difficult year for SMEs so it’s not surprising that many feel forced to pull the plug on the traditional Christmas party and end of year bonuses. These are difficult decisions to make and could have an impact on staff morale and loyalty. For those employees hit by the double whammy it’s going to feel like a real damp squib of a Christmas.
“Things are looking up for next year though with 43% of companies saying they
can see some signs of recovery. However, it’s early days so it remains vitally
important that they continue to keep a tight lid on essential running costs. One
very easy step is to cut down on the amount they are spending on energy by making
sure they are paying the lowest possible price and by cutting down on the amount
they use. By getting independent information and support in switching to a cheaper
supplier, SME owners could save up to 70% on their energy bills.”
See
the full version of this press release.
For more information please contact:
Jo Ganly 0207 802 2915 / joganly@uswitch.com
About uSwitch:
uSwitch.com is a free, impartial online and telephone-based comparison and switching
service, helping consumers compare prices on gas, electricity, water, heating cover,
home telephone, broadband, digital television, mobile phones, personal finance
products and car insurance.
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