Christmas can help SMEs boost revenue, according to research
Christmas can help SMEs in the UK to make additional revenue, with 60 per cent of businesses experiencing equal or higher levels of work during the period, according to research commissioned by freelancing platform Upwork.
The research found that businesses can benefit from staying open during the Christmas season, with over 35 per cent of businesses believing that their income could increase by up to 50 per cent.
Whilst the high levels of demand are beneficial for businesses, it can also be a challenge as they will need to tackle the extra workload. Over 20 per cent of businesses have less staff over the Christmas season, leaving them unable to meet demand.
Over 95 per cent of business owners will be working at some point between Christmas Day and New Year’s Day in order to boost their revenue, with many taking on extra responsibilities.
The research revealed the areas in which business owners will carry out extra tasks, with 70 per cent taking on administrative tasks, 44 per cent customer service duties, 29 per cent checking emails on their phone and 13 per cent going into the office.
Upwork Senior Vice President, Rich Pearson, commented: “Coping with increased demand during the Christmas season is one of the worst things about owning your own business.”
He added: “With quick, easy access to talent ranging from customer support agents to search engine marketers through freelance websites like Upwork, business owners are no longer forced to choose between putting work first or leaving money on the table.”
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