A recent survey of small business owners and managers showed fewer of them plan to give employees gifts or cash.
“Business owners are still feeling pinched cash wise,” said American Express business adviser Alice Bredin. AmEx’s small business division conducted the survey.
Last year, 44 percent of those surveyed said employees would get a year-end bonus. This year, only 31 percent did.
Even fewer are planning raises: 16 percent, compared with 30 percent last year.
Meanwhile, in 2008, 46 percent of owners or managers said employees would get holiday gifts.
This year, it’s 35 percent.
The survey also found that, of those still giving a present, 42 percent said they’ll give fewer or cheaper gifts to customers and employees.