5 Ways to Give Your Small Business a Spring Cleaning
Spring represents a time of renewal—a welcome opportunity for small business owners to shake off the winter and embrace what’s ahead. As you know, we’re not just your ordinary Newmarket accountants; we’re about so much more than taxes and compliance. We’re here to help you identify and set goals that align to the reasons you started your business for in the first place. Fortunately, the arrival of warmer weather is the perfect opportunity for entrepreneurs to revisit business goals with a fresh eye and make any changes needed to reflect the reality of your year. Here are a few things you can do to spring into success this season…
- Check that your business budget reflects the reality of your year.
A lot of business owners like to set a yearly budget, but that’s not always the most effective strategy. Where you thought you were going to be back in December may not reflect the reality of the New Year. Spring is a great time to reevaluate your budget and make sure you have enough money put aside for the upcoming visit from the tax man.
- Set aside time and money so you can take a break from running the business.
The beautiful spring and summer weather will bring ample opportunities to enjoy the fruits of your labour. But, in order to truly relax during your downtime, it’s a good idea to sit down with your accountant and make sure there are no discrepancies in your cash flow before taking a break.
Tie up any loose ends preventing your company from moving forward.
It’s time to shake off the cobwebs of winter and officially close things off that anchor you to last year. If you have outstanding projects or filings from 2017, it’s a good time to put it behind you and focus on the year ahead. Remember, it’s difficult to move forward when you’re anchored to the past.
- Work with your accountant to become more efficient.
Are your accountant fees too high? A lot of small business owners are guilty of inefficient bookkeeping, which can cost you more money at the accountant’s office. We’re here to help make your money work for you.
- Check in with the people supporting your business.
If you’re large enough to have staff, or utilize contractors, touch base with them to work on problem solving and build a stronger professional relationship. Remember, good businesses are built on the efforts of great teams.
Have questions about spring cleaning your small business? At Blue Sky, we don’t charge to chat. Give us a call at 289-466-5210 and we’ll get you back on track for the year ahead.