Work/life balance outweighs working bank holidays for small businesses

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.


This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.

DID YOU FIND THIS USEFUL?

Share it with your network:  

Want more great content?
Sign up to our newsletter

    Follow us

    Tweets by @CHW-accounting

    CHW-Accounting
    @chw-accounting


    Twitter: chw_accounting

    Read enough?

    Want to find out how we can help you and your business? Get in touch today and let's have a chat.

    WHAT'S THE NEWS?

    Grab a biscuit and a brew and read our latest news.

    19 February 2024

    Tax changes – What’s new in 2024?

    by

    We are now well and truly into 2024 and before you know it the end of the 2023/24 tax year on 5 April will be upon…


    Read more >

    12 February 2024

    National minimum wage – a quick guide to the...

    by

    The government sets a national minimum wage and a national living wage to guarantee that workers get a minimum standard of pay. It is a legal…


    Read more >

    7 February 2024

    HMRC to target undeclared dividend payments

    by

    HMRC have advised the Chartered Institute of Taxation (CIOT) that they have commenced a ‘One to Many’ letter campaign directed at taxpayers who HMRC suspect may…


    Read more >

    7 February 2024

    One week on from Self-Assessment deadline

    by

    We are now a week on from the self-assessment filing deadline of 31 January and figures show that more than double the number of taxpayers failed…


    Read more >

    5 January 2024

    Cut to National Insurance from 6th January 2024

    by

    From Saturday 6 January, the average earner will be almost £450 a year better off according to the government.  However, the reality is that due to…


    Read more >

    YOUR CHALLENGES

    No matter what your challenge is, we’ve probably dealt with it before.



    Need an Accountant?

    Get in touch >


    Need an Accountant?

    Get in touch >


    Tax issues?

    Find out more >


    Tax issues?

    Find out more >


    Trying to grow your business?

    We can help >


    Trying to grow your business?

    We can help >


    Managing cashflow?

    We can help >


    Managing cashflow?

    We can help >


    Starting a business?

    We can help >


    Starting a business?

    We can help >


    Looking for funding?

    Need help with funding? >


    Looking for funding?

    Need help with funding? >


    Buying or selling a business?

    We can help >


    Buying or selling a business?

    We can help >


    Adopt the cloud?

    We can help >


    Adopt the cloud?

    We can help >


    What else can we do for you?

    We can help >


    What else can we do for you?

    We can help >
    CONTACT US

    Get in touch, no hard sell, just a brew, a biscuit and a chat.