Bank Holidays are a wonderful opportunity for respite in a busy work schedule – whether you’re spending time with family or taking time out for yourself. And yet interestingly, research suggests that bank holidays (although there are only eight of them in the UK) can cost small businesses thousands in revenue.
According to a report by Yell Business, UK small businesses could potentially lose £2,250 each if they opt to close on every bank holiday. In spite of this potential for loss, just 26 per cent of businesses open their doors on bank holidays – despite 86 per cent of the public saying they specifically use the day to shop around (making it worth a business’s while to stay open!).
Of course, the effect of a bank holiday on a business depends largely on the type of business in question. For example, just 42 per cent of retail, catering and leisure businesses operate as normal – though it’s suggested many more should consider opening too.
Essentially, knowing your business and your customer base will help you determine whether it’s in your best interest to stay open on a bank holiday. Also have a look at your sales data and make an informed decision. And if you decide to close you business; plan for it – let your employees know whether they are working or not and log opening and closing hours on your business website.
As for the team at CH Systems – we’re always available to look after your heating and plumbing needs. For all your energy related questions, feel free to contact the CH Systems team on 0208 302 8149 or firstname.lastname@example.org.