Christmas concerns for SME's

Christmas concern for small business bosses

One in three small business owners are feeling stressed about how well their business will perform this Christmas, with 21% saying this could define their growth for the next 12 months. A survey of 500 business owners commissioned by payment platform Lopay found that 60% believe the weeks leading up to Christmas are their most important period of the year, with 58% worried about what low sales in December could mean for the year ahead. The ongoing cost-of-living crisis has meant 34% of owners have noticed their customer numbers have dropped recently. Many are putting measures in place to help boost sales, including seasonal discounts, extended operating hours, and buying more stock. Others are considering how they can make it easier for customers to pay, with 62% using contactless card readers. However, as many as one in four have had to wait for their payment provider to transfer the money to them.