Infographic: Is it worth opening on a public holiday?
Public holidays aren’t all sleep-ins and empty roads – instead you often need to figure out how to maintain adequate cash flow in a week where you miss out on a day of trading but still get the same amount of bills coming in.
It’s part of the reason more and more businesses are trading on public holidays, but making that call for your small business requires weighing up multiple factors. Opening often means paying higher penalty rates, but foot traffic can be unpredictable.
Every business (and every public holiday) is different, so there is no magic formula for determining whether it’s worth your while to forgo the lure of a day off in favour of opening up, but there are some key considerations that need to be factored into your decision.
If you need a little financial help to tide you over during the quiet holiday period, talk to Prospa about how a small business loan might be able to help support cash flow.
Business loans and lines of credit offer different advantages to small business owners looking to invest in growth or cover cash flow gaps. Here’s the rundown.View more
Subscribe to the Prospa Blog
Be inspired! Sign up to Prospa’s newsletter to receive tips, tools and small business success stories straight to your inbox.