Small businesses plan to spend more this season on employee bonuses and office parties than last year, according to a recent survey.
It looks like small businesses are getting into the holiday spirit--and spreading some much-needed cheer to employees.
More small business owners are reportedly going to give holiday bonuses and perks this year compared to last, according to a recent survey by American Express,
The survey found that 35% of 501 small business owners will give their employees end-of-the-year bonuses, boosting paychecks by 9% on average. Last year, only 29% awarded bonuses.
Just two in 10 said they won’t do anything special for the holidays at work, while four in 10 will throw office holiday parties and spend an average $959 on party costs.
The owners will also extend that holiday cheer to clients, the Los Angeles Times noted. About 51% will give gifts to their clients, up from 43% last year, spending $958 on average.
Perhaps the reason for the cheerful outlook? In a recent survey, a large percentage of small businesses predicted robust sales this holiday season.
Read more recent articles by Kathleen Kim:
Legal Research Site Names 2,000 Patent Trolls
Uphill Battle: Report Shows Women-Owned Businesses Lag
5 Simple Lessons From the Worst CEOs
November Sales Growth Spikes for Small Retailers