Gift Cards For Small Businesses: Everything You Need To Know

Gift cards for small businesses offer a cost-effective way to motivate employees and retain top talent. With CleverCards, Irish and UK small businesses can instantly send a cost-effective gift solution.

Today, small businesses are in an invisible race against corporate giants. And no, this isn't about scaling faster or chasing market share. It is about competing to create a workspace where employees feel valued and want to stay.

Big corporations have dedicated HR teams and substantial budgets for elaborate employee benefit programs. Small businesses, on the other hand, need to be strategic with their investments in offering rewards that feel meaningful without straining budgets.

Moreover, the challenge is now bigger than ever. Teams are increasingly diverse, spanning generations, locations, and work styles. Employees are gravitating towards organisations where their contributions are celebrated. A recent study by Gallup discovered that employees who don't feel sufficiently recognised are 2x more likely to switch jobs within a year.

This is where gift cards for small businesses emerge as a powerful solution that levels the playing field. Gift cards are a simple and flexible solution to show employees that you care. They help them offer the personalisation that today's employees expect without the overhead for small businesses.

What Are Business Gift Cards?

Business gift cards are prepaid cards that companies give to employees as a form of recognition. They come pre-loaded with a set value and can be spent wherever the card network (Mastercard, Visa) is accepted.

Gift cards come in two formats:

1. Physical gift cards - Physical gift cards are tangible plastic cards that can be used to swipe in a card reader at a store

2. Digital gift cards - Digital gift cards are stored electronically and can be used both in-store and online via a smartphone or a payment app.

Digital and physical gift cards can further be divided into two categories: open loop and closed loop. Open loop cards (like those powered by Mastercard or Visa) can be spent almost anywhere, while closed loop cards are restricted to a single retailer or multinational chain.

This distinction is important when choosing the right reward for employees. Open loop cards, like CleverCards, can be used everywhere from local cafés to independent boutiques, meaning rewards often fuel within the local economy and directly benefit other small businesses.

This flexibility can give small businesses a welcome boost, especially during slower months. More and more small businesses are preferring digital gift cards over physical ones. Simply because of the edge these cards provide in terms of cost and flexibility.

They are more cost-effective, easier to distribute, and can be delivered instantly. In today's increasingly distributed workforce, the ability to send rewards in seconds is what makes digital gift cards for small businesses practical and a clever choice.

Why Are Gift Cards Perfect For Small Businesses?

Small businesses are different from large corporations. They're often challenged with tighter budgets, limited resources, and smaller teams. This means every investment in employee engagement needs to count.

To build a high-engagement workplace without unnecessary complexity, small businesses need a solution that is low-maintenance and easily scalable. Here are some reasons why gift cards are perfect for small businesses:

1. More Flexible: Small business teams differ in age groups, backgrounds, and preferences. A gift card lets a 22-year-old employee buy something completely different from a 45-year-old employee. While making them feel equally valued at the same time.

2. Less Admin Work: Gift cards also eliminate admin overload. Traditional gifts require time-consuming sourcing, shipping, logistics, and reimbursements. Gift cards remove this burden entirely.

3. Instant Recognition:. When a key employee delivers well on a project, an instant card can help provide recognition and enforce a positive environment within the team.

The gift card market in the United Kingdom is projected to grow by 8.3% annually, reaching US$11.87 billion in 2025. This surge reflects how both large and small businesses alike are embracing gift cards. If you’ve ever searched for “gift cards for my business,” you’re already one step ahead and in the right place.

How To Choose A Gift Card For Employees?

Before you pick a gift card for your employees, here are some points you should consider:

1. Flexible Spending: Choose a card that is flexible and can be used across multiple stores. This means choose a card that is powered by a network and not a retail chain. With Network-powered cards like Mastercard, you can spend across the world.

2. Instant Delivery: Look for cards that ensure instant or same-day delivery. This not only saves logistics costs but also works perfectly for last-minute rewards or remote teams spread across different locations.

3. Trackable: Make sure the card platform offers tracking features so you can monitor if the card has been received and activated. Moreover, employees should be able to track their spending.

Order Gift Cards For Employees With CleverCards

CleverCards was built because small businesses deserved the same tools that large corporations use to attract and retain talent.

With CleverCards, you can order gift cards for employees instantly online, avoiding the lengthy delays associated with other options. The employee gift cards are prepaid Mastercards that can be issued online, sent via email, and spent at over 50 million merchants worldwide.Employees can connect this card to their Google Pay or Apple Pay and use it to spend online or in-store using contactless. Moreover, businesses in Ireland can enjoy tax exemption of €1,500 per employee, per year for these gift cards under the Small Benefit Exemption Scheme.

Reward Employees Smartly With CleverCards

In an environment where retaining good talent is crucial, budgets are tight, and gift cards offer the perfect solution for small businesses. If you are on the lookout for the best gift cards in Ireland and the UK, look no further.

With Clevercards, you can send personalised, instantly delivered gift cards that work in millions of locations worldwide. Whether you want to recognise performance or celebrate milestones, CleverCards makes rewarding effortless and smart.

Do you want to order gift cards for your small business? Fill out the form below to see how CleverCards can help you.