Festivities to get the axe?

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A TOP survey has revealed more than a third of hard-up businesses in the East Midlands will not host a Christmas party for staff this year with half saying they have to rein in spending.

The figures are drawn from the latest Close Business Barometer survey that canvasses the views of small and medium sized businesses.

Close Invoice Finance chief Ian Steward said: “Businesses in the East Midlands are experiencing some of the most trying economic times we’ve seen for many years so it’s hardly surprising Christmas parties for staff have been axed.”

The survey revealed 14 per cent polled said they will close down for a shorter time that usual over the festive period, 42 per cent said they will close for two days less than usual and a 14 per cent said they will close for three days less than usual.

Mr Steward added: “It’s the combination of seasonal issues, weather and sick days that has left small and medium sized businesses with little option but to keep trading over and above the norm this year.”