Small Business Owners can save up to 55% on employee gifting this Christmas
Irish shoppers’ preference to receive multi-store gift cards, increasing by 19% on 2022
Boost for Irish and local economy with One4all’s closed-loop system
The cost-of-living crisis has affected both SMEs and employees increasing the financial burden of Christmas over the coming weeks. However, An Post and One4all are advising that changes to the Small Benefit Exemption Scheme will allow SMEs to reward employees this Christmas in the knowledge they can save up to 55% on employee gifting.
Benefits for Small Business Owners
Changes to the Small Benefit Exemption scheme, which came into effect as part of Budget 2023, allows business owners to gift an employee up to two, tax-free benefits per year via One4all, totalling an annual value of €1,000 per employee.
According to Lucy Murray, CX & Marketing Director, An Post ‘The benefits of gift cards to a business owner far outweigh any cash gift option – with inflation at record highs, employers need some peace of mind that they can reward their employees without having to worry about business finances. They will, in effect, be saving money by purchasing gift cards for their employees this Christmas. They are tax-free and free of PRSI and USC and they couldn’t be easier to order. We know that the average salary in a small business is just shy of €40,000 per annum and based on that, employers can save up to €553 when they gift a €1,000 One4all Gift Card. That is a pretty significant saving for a business owner’.
‘Finally, you can buy One4all Gift Cards in any of the over 900 post offices nationwide, or for large orders, we will deliver directly to your business address. Again, the benefit of a One4all is that there are no admin, service or delivery charges for business owners to pay’.
SME savings of 55% can be achieved by gifting either €500 or €1,000 net to an employee on a salary of €40,000, who is on the standard rate of tax and PRSI. According to ISME, the current earnings in a small business average €720.33 per week or €37,457 per annum.
Benefits to local and national economy
Using a closed-loop gift card system, One4all ensures that the funds can only be spent in Ireland through Irish retailers, which helps boost the local economy. With two-thirds of shoppers typically spending more than the value of their gift card and younger shoppers spending up to three times their gift card amounts, when gifting a One4all Gift Card, employers are not just rewarding their employees, they are also supporting Irish retail.
Gifting employees with something meaningful
Research carried out by One4all shows that gifting employees meaningful gifts is 2.5 times more important than the cash value of that gift. With research indicating a substantial 19 per cent increase in the preference for multistore cards as gifts compared to 2022, One4all perfectly aligns with this trend, offering a versatile and widely accepted option for recipients. Available to load on Apple Pay, One4all Gift Card allows for quick and convenient shopping with One4all retailers. With planned physical in-store visits up nine per cent on 2022 and the total Christmas gift spending up seven per cent, One4all Gift Cards will see money return to local communities, supporting Irish jobs.
This year, post offices will be open until 1 pm on Saturday 23rd December 2023.
Find out more about corporate One4all gifting options here