Small Business Planning For The New Year Jan 15th

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Small Business Planning For The New Year


Small Business Planning For The New YearWith a new decade upon us it’s a good time to evaluate your business. Begin the new year with a detailed business plan in place, as well as defining your goals. Go beyond the profit and loss figures; maybe it’s time to research using new suppliers, a new marketing strategy, etc.

Use the arrival of the new year as a time to step back and re-focus. By financially planning for your business, you give yourself an advantage. Being proactive rather than reactive can have positive results.
You need to have a budget in place to ensure a positive cash flow. This needs to cover not only expenses such as payroll, but contingencies as well. Money will need to be set aside for taxes, capital expenditures, overhead, etc.
Make Upgrades
Look ahead to what you wish to accomplish in the coming year. You may wish to buy new computers, or upgrade your technology.
This is also a good time to consider whether you need to hire more people to accomplish your new projections.
Purchase Group Insurance
If you don’t already have it, group insurance and employee benefits can be a useful tool in attracting and retaining qualified personnel…

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