Winter can be an expensive time for everyone. If you own a business, you aren’t immune to the high costs that winter and the holidays bring. The cold and dark can mean paying higher bills, and there are other expenses associated with the season too. It’s important to consider how winter affects your business’s finances, whether you’re preparing for next winter or looking at the one that just passed. When winter comes along, make sure your business is braced for these top costs.
Winter-proofing
Many businesses need to spend money on protecting their premises, or perhaps assets such as vehicles, from the weather. Snow, ice, and rain can all damage property and other things if you don’t think about the weather in advance. Even when taking steps to winter-proof, you may need to pay for repairs.
Business Downtime
The weather can have another effect on your business. If it’s bad enough, it could prevent your staff getting to work. In some cases, you might be able to get around this by having people work from home. There’s also planned downtime to take into account for the holidays.
Higher Energy Costs
The cost of bills can rise during the winter too. You might need to have lights and heating on more often, which results in increased expenses.
The Christmas Party
If you like to plan a party for the holidays, don’t forget to budget. It can be an expensive exercise, especially when combined with holiday bonuses. Think about whether you will be wholly or partially footing the bill.
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