However, it can be joyous.
I remember it clearly. Putting on staff Christmas parties, managing opening times to maximise revenue whilst making sure everyone had time to be with loved ones, and doing my best to ensure those who didn’t have loved ones close had plans to relax and recuperate. With three retail businesses, one in hospitality, this was no mean feat. Some years, it was extraordinarily tricky when December takings were not as fruitful, and the temptation to stay open was strong.
What worked for me was a team that helped me manage my expectations and plan throughout the year. For example, contributions to the festive spend pot for bonuses, celebrations and closures started in March. Some months it was a meagre amount and others more. In a couple of the slow years, it wasn’t even half of what I’d expected to spend, and my tactic was to be open, honest, and upfront with the entire team, giving them the option of cash over partying.
For one of my mentees, it is the most favourite time of year. He knows that, globally, most organisations down tools and operate either on skeleton staff or not at all. It’s almost like holiday solidarity. There is no guilt. Family and friends receive most of his time, which means he enjoys, relaxes and can approach the new year afresh.
For others, though, it can be a time of angst that feeds the sad statistics: businesses heavily reliant on a lucrative quarter four often lead to burnout affecting days set aside for family and friends, triggering a downward spiral of emotions and unmanaged expectations.
FAB UK found in 2023 that 59% of business owners intended to work some of Christmas day although it is not clear if that includes cultures that don’t mark it as a day of celebration.
In Small Business Britain’s “Moving Forward” 2023 report, only 41% of small businesses said they had a “good” or “great” festive trading season.
In a survey covered by Simply Business, 69% of small business owners cited rising costs and inflation as a top concern heading into the Christmas period.
These paint a bitter scenario. We are in strange times, uncertain with minimal growth currently and forecasted. Business owners need to be agile, which leads me to ask the question that
if so much rides on one period of the year, then maybe it’s a sign to explore diversification or question the business model to find sweeter times.
Sources simply Business UK, small business britain
