WHILE this Christmas is expected to see UK retail spending breaching the £40billion mark for the first time, Santander says December is the most challenging month for small and medium sized enterprises (SMEs).

SMEs will experience little Christmas cheer with more than half (52%) expecting no change in sales over the month.

Only a quarter (25%) of SMEs feel the festive spirit spreads to their businesses resulting in an increase in sales, while 22 per cent experience a fall in sales during the period.