With the last Spring bank holiday having been left behind, it’s difficult for small businesses to work out whether they “should” be open during bank holidays.
On one hand, there’s the potential loss of earnings, and on the other, work-life balance. Particularly if your business relies on you to be there.
We know that it can be become far too easy to miss a good night’s sleep and work over bank holidays to maximise profit to make your business more successful. However it may be damaging your health and harming productivity for your business.
Research conducted by Yell Business analysed small businesses from across the UK, to understand how many opened, and for those who didn’t what the cost was.
The research revealed that 74% out of the 1,500 business owners interviewed, revealed that they preferred the break.
It was calculated that for those who decided to close their business for the bank holidays, it would cost them £2,250 per year if they chose to stay closed every Bank Holiday in 2017.
Ian Orgill, Director of CHW Bolton Accountants, said: “It’s important to work out and predict whether it’s worth your business staying open. Some businesses, particularly retail and hospitality are particularly geared towards Bank Holiday sales, and consumers know this.
“If you decide to open throughout the bank holidays, it’s important to remember to take some time off at your convenience, in order to recharge the batteries. Whilst you are shut, make sure you aren’t completely losing out on sales by advising customers via your website/ social media/ shop front when you are closed until, and when to contact you again.”
As a new business owner it can be difficult to take time off for your self which is why it’s important to outsource your accounts to our Bolton Accountants at CHW, so you have more me time. Take a look at our LaunCHWorks start-up package for small business owners.
Want to find out how we can help you and your business? Get in touch today and let's have a chat.