The holidays is one of those fields in which we are becoming more and more involved, which goes without saying. We want to be able to make the most out of this time of the year and the idea of giving gifts is something that we will do, at the cost of spending of course. With this in mind, how much spending can prove to be too much, you may wonder? This is an important subject to look into, especially if you were to talk to a Long Island accountant about changes in business.
A Fox Business article went into detail about the matter and it seems as though small business owners are cutting back on a number of facets related to the holidays. An American Express OPEN survey said that such individuals are lessening the degree of holiday bonuses, parties, and of course gifts. For many, this is considered to be something of an outrage, which is fair to assume. However, it seems as though there is still the impact of the government shutdown to take into account.
I do not want to think that the lesser involvement done during the holidays was something that was made in a moment of snap judgment. In fact, the financial situation that we see ourselves in is not especially great, which is something that any Long Island accountant will be able to tell you about. A total of 34 percent of small business owners, according to the article, anticipated that the holiday retail season would not be exactly strong. This is a point that can be assessed by many authorities, CFO Consulting Services included.
You may be looking at this particular situation and wondering just how important it truly is. Well, the article made it a point to mention that 27 percent of business owners would be offering year-end bonuses to their workers. This is unfortunate, especially when you consider that it is down from the 35 percent that was seen last year. While it seems as though businesses are taking part in the holidays less and less over the course of time, one has to wonder about the long-term impact this can have.
If there is one thing that should be kept up in any line of work – and I am sure that any Long Island accountant would agree – it would have to be morale. You want to make sure that your workers are kept content and sometimes the simplest of gestures are able to keep said morale at as high of a level as possible. Holiday parties and related events are ones that many people look forward. While I understand the economic situation is not great, such festivities should not be done away with.
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