Fewer small businesses owners to splurge on holidays


The holidays are still weeks away, but based on a recent survey conducted by AMEX Open,  most small-businesses owners will be frugal. Just 37 percent plan to host holiday parties, down from 42 percent a year ago, according to the 2010 American Express OPEN Small Business Holiday Monitor.

While 44 percent plan to buy gifts for their clients or customers, that represents a slight decline from 47 percent a year ago, and just 24 percent plan to send cards or calendars this year, compared with 30 percent in 2009, though 38 percent said they would personally call top customers to thank them for their business.

Holiday bonuses and raises also will be the exception to the rule, with 14 percent of responding small businesses expecting to give raises, down from 16 percent a year ago, while 25 percent plan to give end-of-year bonuses, down from 31 percent in 2009.