The end of the year brings with it the spirit of giving and reflections on the year that's passed. It's also a time of optimism for entrepreneurs, who expect the holiday season to serve as a boon to business, a new survey finds.
According to the American Express OPEN Holiday Growth Pulse survey, 37 percent of entrepreneurs think this holiday season will be even better for them than last year, and 55 percent expect a performance similar to what they saw in 2014. The survey also found that women-owned businesses are more likely to embrace the holiday cheer by giving back to their employees. Some of the survey's other findings include the following:
- The holiday season is typically responsible for 21 percent of female entrepreneurs' yearly sales.
- Women owners are more likely than men to give bonuses to employees (56 percent of women versus 43 percent of men).
- Women-owned businesses are more likely to host a holiday party (57 percent versus 50 percent).
For both male and female entrepreneurs, the holidays provide an opportunity to strive for growth in the new year. Janey Whiteside, senior vice president and general manager of customer marketing and relationship management for the American Express OPEN, emphasized the importance of a strong sales climate to close out the year for retailers.
"Many small retailers have a positive outlook on the upcoming holiday season and see it as an opportunity for growth in 2016," Whiteside said. "As a majority of small business owners see growth as their top priority, we are proud to support their efforts to make this holiday season a success."
So, however you celebrate, keep in mind how important the year's end can be for small business owners. Many entrepreneurs are counting on the holiday season to bring them into a happy new year.