SMBs Take Cues from Major Retailers with Early Holiday Promotions

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Overall, 58 percent of small business owners are planning to spend extra money on employee gifts or celebrations this year, while business owners between the ages of 18 and 44 are feeling even more generous, with 71 percent planning to spend extra on employee gifts and celebrations.

With more than one in three (35 percent) small business owners planning to work longer hours this holiday season, they are more interested in relieving stress with the gift of a personal getaway or more time with their family (40 percent) than with extra cash to invest in the business (20 percent).

A new survey of small business owners released recently from Ink from Chase shows that, like major retailers, small business owners are preparing for the holiday rush even earlier this year with more than one-third (34 percent) planning promotions beginning on or before Thanksgiving Day. To gear up, 47 percent of small business owners are increasing inventory or marketing, while 22 percent plan to enhance their social media presence.

The nationwide survey commissioned by Ink from Chase, the business card portfolio of Chase Bank USA, N.A., a subsidiary of JPMorgan Chase & Co. (NYSE: JPM), reached 507 small business owners that sell consumer goods and have between two and 99 employees. This slideshow features some of the key findings.


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