Lengthy Christmas break for small firms

More small firms are planning to take an extended Christmas break than at any time in 16 years, according to the Federation of Small Businesses (FSB).

From a survey of its members, the FSB estimates that 10 per cent or 500,000 are planning to close for two weeks over the festive period - following the same trend of many larger companies.

The FSB says the main motivation for the move is to save money.

FSB's spokesman Stephen Alambritis said: "We estimate that around half a million small businesses will close during this period because of the financial situation, many for longer periods. It's the longest break taken by our members since 1992, if not before."

"By closing down for the full two weeks, small firms are looking to save a bit of cash though reduced electricity and fuel bills. Obviously small retailers won't be closing, but small manufacturers and self-employed workers such as electricians and plumbers, will be downing tools."