Eight out of ten micro businesses maintain Christmas party despite economic slow-down
Research released today by online accountants Crunch reveals 82% of Britain’s smallest businesses (up to 20 staff) still plan to hold a Christmas party. Only 18% have cancelled their party this year, compared with 27% cancelling in 2010.
Micro businesses will party on despite the slow-down in the UK economy - 78% of those surveyed said they either missed targets, down-sized or laid off staff in 2011. Furthermore, half of those holding parties said celebrations would be the same size or even bigger than last year.
“With many larger businesses and the majority of SMEs cancelling their Christmas party this year, our research today appears to show significantly more optimism amongst the smallest business community,” said Darren Fell, owner and MD at Crunch.
Many of the companies surveyed will also provide further Christmas cheer, with 20% letting staff have time off to shop and 16% shutting down earlier for Christmas.
The research took place in November 2011 and was commissioned by Crunch accounting. Aimed at freelancers, contractors and micro-businesses (up to 14 people), Crunch offers the full range of accountancy services from a team of accountants, backed up with support from its easy to use software online.
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About Crunch Accounting
Crunch Accounting combines a team of expert accountants available on the phone with easy-to-use online accounting software. Designed specifically for freelancers, contractors and small businesses, Crunch Accounting is more than just accounting – it’s a business tool. The accountant and software service is available for a fixed monthly fee of 59.50 GBP. For this, users can invoice, add expenses, have their annual accounts and returns prepared and see the exact health of their businesses instantly with a fun, innovative and simple-to-use website with banking grade security. Crunch is founded by online entrepreneur Darren Fell, with investment from Bebo’s co-founder Paul Birch and former Skype Chairman Michael van Swaaij.
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