Boost your small business this festive season
15 Dec 2017 FINANCE
By Nomali Cele
As much as we believe in responsible spending, there is no denying that the festive season is the time where most spending happens. People have received their bonuses and stokvel payouts. Once they’ve decided how to invest the cash injections, the next step is going to be where to spend what they have budgeted for the festive season. If you are a small business owner, it’s likely you would want them to spend money on your business this festive season.
Businesses that tend to thrive during the festive season are those in hospitality and retail. More Afropolitans are travelling during the festive season. Be it travelling away from the provinces of which they’re economic immigrants to be in their “home” provinces or travelling to coastal areas for festive season holidays, Afropolitans are on the move. While accommodation and flights are usually booked in advance or during off-peak times, the day-to-day expenditure goes to the local business on the ground during their stay over the festive season. From restaurants and small retail spaces to places of amusements and local branches of big franchise businesses, the festive season will bring in money.
So how do you take advantage of the festive season to boost your small business?
Be prepared for the busyness
If you want to take advantage of the uptick in spending during the festive to boost your small business, first make sure that your business is prepared. Do you need holiday help? There isn’t any point in getting potential customers through your doors if you can’t cater to them in a way that’s fast, effective and leaves them with a positive feeling about your business and service.
Make Sure you’re able to receive electronic money
People are travelling and the last thing they will be worried about but many things that don’t involve having cash on them. This is even worse if they are international travellers. Make sure you’re able to receive your money electronically. A service like Yoco will allow you to receive payments from people paying with international account cards and it clears payments faster than other services.
Take care of your logistics
If you are reliant on the services of others to make sure your business runs smooth, make sure you integrate their festive policies into your and that your customers know how things will work over the festive season. If you work with a courier, make sure all orders are sent out long before the courier closes. There’s no point in having products that are perfect for the festive season when your customers will only get them in the second week of January.
Extend your hours! That’s it. People are feeling festive and are in the mood to either be out or do last-minute shopping. If people are asking to collect instead of waiting for your courier to deliver, make that an option.
How are you taking advantage of the festive season spending to boost your small business this year? Tweet us on @Kayafm95dot #SummerDaze