Last year, we published a blog post focusing on five things to do to prepare your business for a new year and a new decade. Of course, no one could really plan for the 2020 we’ve had, but what we can do is make sure we’re going into the new year with a clear plan of action.
Below are five things you should do before you break up for the holidays this December.
Communicate with clients.
Whether you’re planning on taking time off over the Christmas period or not, it’s important to keep your clients and customers updated with what’s going on.
Make sure you let them know your opening times and when you’ll be available to them. Even if not much is changing for you, drop them a line via email or on social media wishing them a happy new year and that you’re looking forward to serving them in 2021.
Chase late payments.
We say BAH HUMBUG to late payments, but unfortunately, they’re a reality of running a small business. Sometimes, it’s a case of the client forgetting to pay, so a simple reminder of what they owe should help get things moving.
Don’t be afraid to chase people for money that they owe you, we’ve written a guide on encouraging customers to pay in a timely manner here.
Reflect on 2020.
Give yourself chance to process 2020 and how it’s likely affected you and your business. Many business owners may be feeling frustrated and disheartened with how this year has panned out for them, and that’s okay.
All you need to remember when totting up your turnover and looking back on the goals you set in January is that this year has been challenging for everyone, so it’s only natural that things may not have gone as planned.
Goals for 2021.
The new year is a chance to wipe the slate clean and plan for the future and why should 2021 be any different?
Your business goals may have shifted this year so check in with what you want to achieve in 2021 and note down actionable steps you can take to make them happen.
Remember, we might have a lot of uncertainty right now, but we can take steps to help build our confidence and plan for whatever the new year throws our way.
Self-Assessment.
Don’t let the thought of sifting through receipts and filling out forms in January steal your joy this Christmas. Get it done now to avoid it nagging away in the back of your mind.
Not sure how to get started? Here are some blogs to get you fired up and ready to submit your tax return:
- How To Get Ready For The Self Assessment Deadline
- Who Needs To Complete A Self Assessment Tax Return?
- Why You Should File Your Self Assessment Early
- Common Self Assessment Tax Return Mistakes and How to Avoid Them
- Could You Be Caught Out By This Self Assessment Blunder?
If you have any questions or need a hand with your business wrap-up for 2020, give us a call today.
