5 Tips for Creating a Budget for Corporate Gifts!
Half of 2021 is near to its end. Most companies are still thriving hard to stay in business. To become relevant and produce quality products and services to their customers.
As a business owner, you should give thanks to those people who supported you throughout the year. Show your gratitude through customized corporate gifts in Singapore. But before you could send yours, here are some tips that can help you create a budget.
- DETERMINE THE OVERALL AMOUNT YOU CAN SPEND.
Before you can think of unique gift ideas, you should identify how much money you can spend on corporate gifts. To know the answer, make sure to discuss this matter with your accountant and HR department.
- CREATE A GIFT LIST.
Once you have a budget, write down all the names of who you would want to thank and send customised gifts in Singapore. Be sure to create a category if you plan to give presents to customers, employees, and business partners.
- BREAK IT DOWN.
At this point, you will need to establish an amount of how much you can settle on each gift. For example, when sending presents to customers, spend a little less, and more if you plan to send gifts to your business partners.
- TAKE NOTE OF BUSINESS GIFT DEDUCTIONS.
Even though business presents seem like an expense, they may give you a hand when tax time rolls around. Just make sure you know how much you should spend so your gifts would not become taxable. To get updated information on this, you should go and check IRAS.
- CONSIDER ALTERNATIVE PRESENTS.
Material things are not the only thing that can help you show your gratitude. Sometimes, a simple gesture like writing a handwritten note can.
If you already have enough budget but cannot come up with unique gift ideas in Singapore, let Arch Heritage give you a hand! Just give them a call at (65) 6475 7980 or leave them a message about your concern on their website.
