Creating A Holiday Budget

Provided by OPEN Small Business Network^SM

Most business owners know that gifts, cards and a holiday celebration are part of end of year expenses. What is sometimes unanticipated is the other expenses that are part and parcel of the holiday season. Use the following list of expenses to accurately plan and budget for this year's holiday costs.

Cards

Purchasing stock cards — covers the cost of boxes of standard holiday cards
Designing and printing cards — if you intend to create customized holiday cards
Purchasing envelopes — eye–catching envelopes will help get your card noticed
Staff to organize/update address database for cards — ensures your contact list is up to date and properly formatted
Staff to sign and address cards — hand–addressed envelopes are more personal than using mailing labels
Postage — consider purchasing holiday stamps instead of using your postage meter

Corporate gifts

Staff to check addresses, gift policies — you may need to employ temps to update your database or investigate client gift policies
Cost of client gifts — covers the amount you intend to spend on all gifts for clients
Shopping costs — determine the cost of the time involved in purchasing gifts, or costs of using a shopping service
Purchasing boxes, gift wrap, ribbon, cards — budget for items necessary to wrap and present gifts
Staff to pack and ship — temps may be required to prepare gifts for shipping
Shipping — determine method of shipping, whether mail, overnight service, or courier

Office expenses

Christmas decorations — costs can range from simple lights and wreaths to more elaborate decorations
Other holiday decorations — also consider costs related to other seasonal holidays such as Chanukah
Candy or treats for office — for companies with waiting areas or other places where customers gather
Tips — determine number of people to be tipped, and amount for each

Holiday party costs

Purchasing invitations — if you intend to mail out invitations to clients, partners and others
Room rental — if event is to be held off–site
Catering — costs for food and drink
Entertainment — if you plan to hire a band, DJ, or other performers
Transportation and parking — car services, vans or taxis
Purchasing gifts — prices of party favors or other gifts for the event
Creating awards, gags, etc. — if you plan to recognize certain employees
Extra office cleaning — necessary if events are held on site
Security — to ensure the safety of attendees, if necessary