I love the summer for sitting back and reflecting on the year. Thinking back to the dark days of winter and forward to the joy of Christmas time. Now is the ideal time to review how your business is going and as you revive yourself through holidays and sunshine you’ll be well placed to make any changes come the autumn.
A review in July and August with your management team or on your own will help you assess whether you’re getting the best value for your hard work and check whether the business is going in the right direction for the future you have planned.
To ensure you don’t focus on the areas that you are already concerned about think across the board to see where you might make changes and improvements. Often, you will find that small tweaks can make a big difference, sometimes more significant changes will be revealed and can be planned in to avoid disruption.
Keep a note of your findings and pinpoint some small quick wins, timetable other ideas along with the business plan you have already. Be sure you are not taking your business plan off course with these ideas but if you find you need to amend your plan don’t be afraid to do so. Be consistent and true to your goals and objectives but agile with your strategies. Do not create chaos by chopping and changing constantly, but allow your strategy to evolve.
With reflection and reassessment you will grow a business which remains relevant to your customers, your team and yourself.
Get in touch with us today for more small business advice, and see how we can help your business grow. Call us on: 01273 882200.
This is the first in our series of blogs designed to help you better understand your business accounts. We’re kicking things off with the profit & loss report!
Taking on your first employee can be an exciting time but there are some responsibilities you need to be aware of. One of them is compulsory pensions these are your auto-enrolment responsibilities. Find out what this means below.
This is the second most popular question from business owners. This sounds like a simple question but the answer is complex and involves many aspects to consider. The answers will depend on the make of the car, the tax position of the owner, their business and the method of ownership.
Dealing with overseas
customers and VAT rules can be a bit complicated for some businesses,
particularly those in retail where you may not have proof that goods are
leaving the UK.
Read below to find out more about the options available to your business.
If you receive rental income from a furnished residential letting then you’ll be aware of a “Wear and Tear” allowance, eligible for use against your properties. This allowance recently saw a change to its terms, read below for more details.