By Daniel Hunter

The average cost of Christmas for small and medium-sized enterprises (SMEs) is upwards of £20,000 according to new research from TalkTalk Business.

The survey of 1000 SME business decision makers discovered that festive treats such as the office Christmas party, staff bonuses and closure during the holidays remain high priorities.

It revealed that 37% cited the office Christmas party and staff bonuses (25%) as two of the biggest financial spends to the business at Christmas, emphasising the SME community’s commitment to working culture and team morale.

However, as a result, two thirds of SMEs are faced with “mortgaging” January and February to pay for the festive season with 70% admitting that the festive period is by far the most costly time of year — with 42% believing that office closure is greatest financial cost to business at Christmas.

“Christmas is not only an expensive time for consumers, but for small businesses too. While company morale is important, businesses shouldn’t have to mortgage the New Year in order to enjoy Christmas. Instead, decision makers need to demand better value for their businesses, from institutions and suppliers, throughout the year.” said Charles Bligh, Managing Director of TalkTalk Business.

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