Business owners should take the time to recognise and plan for any potential challenges that could affect their revenue over the Christmas period.
The festive season is often a time of increased sales activity. Business owners need to consider strategies on how to effectively manage this busy period in order to protect their business.
An unorganised and badly managed business could have a negative impact on the company’s overall revenue.
Business owners should also be aware of the impact a reduction in demand could have on their business and overall profitability. There are a number of issues that owners should plan for prior to the Christmas period.
Business owners need to ensure that they have enough supplies over the holiday period. It is important to be aware of supplier companies trading hours as some restrict their opening times over Christmas.
It is a good idea to organise how much stock will be needed before companies begin to close for the holidays.
Employees may be interested in celebrating Christmas with an end-of-year party; however they need to be aware of their legal requirements and liabilities during this time. Employers should also take the time to reiterate their code of conduct to employees prior to the holiday season.
Businesses generally hold higher amounts of cash over Christmas so it may be necessary to increase security measures. If businesses are closing down over the holiday, ensure that the security measures in place are enough to prevent the business being a target for robbery.