Strategy

4 tips for picking the perfect corporate gift

When you run your own business, there’s always a lot to remember. But even if you frequently find your mind jumbled with numbers, or you’re constantly nipping in and out of the office, you mustn’t forget to reward those who are contributing to your business success.

Picking a corporate gift is a notoriously tricky thing to do, with plenty of business owners leaving it until last minute or passing the baton to somebody else. But, as the owner of a company you should take the time to learn how to pick the perfect corporate gift, to show true appreciation to both clients and employees. Here, we’ve rounded up our four top tips to help you become a professional in corporate gifting.

Set a budget

Before you begin brainstorming for your corporate gifts, it’ll be wise to set a strict budget to make sure you’re not spending too much or too little on your clients and employees. But, be aware that this doesn’t necessarily mean you have to spend the same on everybody. For example, a larger client who brings more money and business to your company is more likely to need a grander gesture of appreciation than one who brings much less income to you.

If you’ve got a long list of people you want to send gifts to, it might be a good idea to think of your budget as a whole and then divide it among the number of people or companies who will receive gifts. But, as mentioned above, do remember that this doesn’t have to be split equally as some gifts may require bigger portions of your budget.

Be aware of tax regulations

In the UK, any business gift that has been given to a client must cost £50 or under to qualify as tax-free, where any amount above this will be subject to tax. To qualify as a business gift, it must be something that is related to the work that the client does. The items you choose will also need to have an advertisement for your business on it, whether it’s a logo, slogan or image.

If you’re rewarding your staff, these gifts are all taxable. However, for company parties, you’re permitted to spend up to £150 per employee tax-free. But, be aware that this amount doesn’t have to be splurged all at once, and instead can be split up in various events across the year. Similar to client gifting, once you’re over the set limit, you’ll need to report these to HMRC to be taxed.

Hosting special events can be a great way to motivate your staff, so be sure to take the opportunity and give back to the hard workers of your company. For more information on how these events can benefit your company, read our blog post on the subject here.

Consider the recipient’s interests

It’s important to choose gifts wisely, as this can help to strengthen relationships and, in some cases, can convince clients to continue working with you for longer. So, it’ll be a good idea to get to know your clients on a personal level rather than just a business one, to make gifting less of a challenge. It might even be a good idea to call on your employees who are in direct contact with the client to see if they have any ideas.

It’ll also be sensible to think about quality over quantity. Rather than turning up with armfuls of gifts, consider whether one smaller gift will do the job better. A luxury hamper, like these ones from Bottled & Boxed are a crowd-pleasing gift that’ll go down well with most people. Alternatively, if you’re sorting gifts for an entire team or company, something that everybody can enjoy together may be more suitable: planning an experience day that fits in with the client’s expertise and interests is sure to win you some brownie points — find your ideal interactive gift with Experience Days.

Add personal touches

Your client is bound to know you’re sending gifts to others you work with but adding personal touches will make sure they feel individually appreciated. For example, something as simple as handwriting the card and getting everybody on your team to write a message can make a big difference, so be sure to prioritise personalisation to set your gifts apart.

Picking corporate gifts doesn’t have to be difficult and stressful. Follow our top four tips and you’ll be on the right track to picking perfect presents in no time.