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Companies spending £50 per person on Xmas entertainment

Research from Hitachi Capital Business Finance has shown that the average small or medium sized company is planning to spend an average of £41.13 per employee on Christmas entertainment this year.

However, this figure rises to £44.40 per person in the north-west of England, and to as much as £52.83 in London.

The average company in the East Midlands is planning to spend only £28 per person, while in Wales the equivalent figure is £27.

The average spend per person, across the entire UK, is also in excess of £50 when we look specifically at companies in the media and financial services sectors. Workers in agriculture (where an average of £27.97 per person is expected to be spent) and education (£21.31) can perhaps look forward to a more basic Christmas party experience.

10% of small and medium sized company bosses are proposing to have a company day out, whilst closing the office for the day, as opposed to a sit-down turkey and Christmas pudding meal. 5% are planning to hold their party in the office – the stereotype of the office party is often one held in the office where the staff start photocopying their body parts! (Note – your company is unlikely to approve of this, and this could land you in trouble with your bosses!)

Gavin Wraith-Carter, managing director at Hitachi Capital Business Finance said: 

“It’s great to see that despite all the doom and gloom of the last year, small businesses are spreading the Christmas spirit and showing appreciation for their colleagues by throwing a party for everyone to enjoy.

“And small businesses do have a reason to celebrate. It is many of the UK’s smallest and youngest enterprises that have met 2017’s uncertainty with optimism and bulldog determination.

“Small businesses have also been crucial in job creation, as around two in five have planned growth throughout the year and to hire new staff.

“Our nation’s small business community has reason to celebrate with its most important asset – its people – and the spending power behind these festival celebrations, in whatever form they come, will also make a positive contribution to the economy during the final weeks of the year.”

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