The number of small companies in the UK who plan to hold staff Christmas parties this year has risen significantly in comparison to 2012, according to results of the latest Close Brothers Business Barometer.
The quarterly survey indicated that over 60% of SME owners will host a festive party for staff this year, an increase of over 20% on this time last year.
The Business Barometer, an opinion poll of SME owners across the UK, further revealed that 29% of firms are benefitting from current trading conditions, a rise of over 10% on the previous quarter, suggesting that business confidence is improving.
David Thomson, CEO of Close Brothers Invoice Finance, said:
“Christmas parties have fallen victim to the recession over the last few years and this noticeable increase is a positive sign that business confidence is growing.
“For many bosses, the annual Christmas party is significant as it is a chance to build relationships with staff and reward them for their hard work and loyalty throughout the year.
“However over the last number of years, many employers have had to regrettably cut back on any unnecessary expenditure and understandably staff entertainment is often first on the list.
“Staff morale can make a real difference to a company’s bottom line, so it’s great to see so many employers recognising this and treating their staff with festive celebrations this year.
“It appears that the tide could be starting to turn for UK SMEs. Our research suggests that many firms are making the most of the current economic climate with increasing numbers reporting an improvement in their trading conditions.
“With a potential upswing in our sights, we believe it’s important that employers take this opportunity to wind down with their staff in advance of what is shaping up to become a very productive 2014.”
