• 11 November 2022
• Tiffany Carey

'Tis the Season: Small Business Gift Giving

Giving holiday gifts is a great way to build relationships with employees, vendors, and customers. But it can be stressful to determine who should be on the gift list, how much to give, and what is appropriate to give. Let’s think through these criteria.

Decide Whom to Gift

On average, 65% of a company’s business comes from existing clients, so gifting these individuals is essential. Equally important are your long-term employees and vendors. For some small companies, that could mean giving presents to dozens of individuals, which isn’t always financially possible. Determine who should receive a gift by considering a few things. Consider the time you’ve spent working with the individual, how easy or difficult they are to work with, if you’re currently working on a big project with them, and if they have sent client or employee referrals your way.

Determine Your Budget

As you plan who will receive a holiday gift, you’ll determine how much money you can afford to spend. Although research varies, a familiar holiday spending formula is to reserve 1.5% of your revenue for gifting. You can then decide how much money to spend on each person based on the preceding considerations. Avoid holiday gift giving pressure by not spending more than you can afford.

Five Holiday Gift Ideas for Your Small Business

As a small business owner, you appreciate when your peers employ your services. Holiday gift-giving time is a great way to reciprocate and show gratitude to other small businesses. Many offer easy online ordering and delivery. Here are five to check out:

- Sugarwish: Choose any of your favorite candy, popcorn, coffee, or tea from their easy-to-use online delivery service. They also have a corporate gifting service for branded gifts and volume discounts.

- Giftagram: Select from 100s of curated gifts like soap sets, diffusers and candles, and gourmet wine and food. Simply click through the choices, choose your delivery date, and consider it done.

- Handwrytten: Send handwritten, beautifully designed cards to as many recipients as you wish – all written in your handwriting. Special technology allows Handwrytten to replicate and reproduce your writing so succinctly that no one would ever know you didn’t write it yourself.

- Packed With Purpose: Feel good when you select customized gifts that contain products from non-profit organizations and businesses working to create societal impact. Choose from games, care packages, and cocktail celebration boxes.

- Loop & Tie: Purchase unique gifts from small businesses giving back to craft makers and artisans in local communities and diverse suppliers. Collections are categorized by price and interest to make finding the perfect gift a cinch.

The holidays are a time for giving, so take some time to think about the people who have helped your business fluorish. A holiday gift doesn’t need to be extravagant or expensive. Remember, it’s the thought that counts.