By Max Clarke
After months of planning and speculation, the Royal Wedding will finally take place tomorrow, Friday. And while the country prepares itself for a day of celebration, courtesy of a complimentary public holiday, some business owners are more cautious.
Some predict that the weekend will present an opportunity for businesses, as well as bringing up to £1 billion in tourist revenues; while others think that disruptions in cashflow resulting from the extended Royal Wedding Holiday will wreak havoc on businesses struggling to survive.
Discussing the wedding and the nation’s small businesses is Martin Lyne, Director of small enterprise at T-Mobile:
The prospect of a series of extended weekends is hardly something to complain about. However, as many workers enjoy this time off, some thought has to be set aside for the impact it will have on small businesses and the economy as a whole. Investec has predicted that growth is likely to be down this quarter as a result of the Royal Wedding. With the Government’s continued focus on small business growth and the results of research showing that over half (58%) of UK small businesses feel positive about how their business will fare over the next six months, SMBs can’t afford to take their eye off the ball at this stage.
Larger enterprises will likely have the processes in place to cope with large proportions of their workforce being out of the office, but smaller companies with less than ten employees may find it tougher. However, what they lack in workforce numbers, they can make up for in flexibility. Small businesses have historically led the way in demonstrating that employees don’t need to be tied to the office to work effectively. With this in mind, there’s no reason why these companies can’t enjoy the time off while keeping on top of their business plans.