The Royal Wedding Opportunity

Posted by: on Apr 27, 2011 | No Comments

Whether you are a royalist are not I sure you will have an opinion whether the extra bank holiday is a good thing or not.
Small business has been hit hard in the recent years with the statutory minimum for employee holidays increasing from 20 days to 28 days, so a further day is unlikely to be welcome from business owners already under pressure in a slow moving economy.
Businesses that sell products would have been well advised to seize the opportunity and release a royal themed product a few weeks ago. And creative service companies could for example have offered a free glass of champagne this week when clients attend a consultation.
Small business owners should check employee contracts. If the contract says staff are entitled to 28 days holiday there is no obligation to offer staff the extra day holiday. But you should also consider the effect on staff morale if you don’t offer the extra day off. So where is the opportunity for small business owners stuck with this dilemma. All too often staff take business owners for granted. So why not take the opportunity to have a team briefing with staff and explain the affect on the business from the lost time, and that you need a commitment from staff to increase productivity so that the lost time does not damage the viability of the company.
As Camberley accountants we offer clients business advice as well as tax planning. We hope it helps.
Looking forward to the street party on Friday – enjoy the day.