New Year’s Resolutions for the Small Business

With Christmas fast approaching that means the New Year is just around the corner. With the economy finally starting to improve now is a perfect time for the small business owner to set some New Year’s resolutions to ensure they capitalise on a more positive outlook for 2014.

Get control of your costs. Are you getting the best deal on electricity, gas, phones, stationery etc? Could you buy in bulk for discounts? Could you invoice some or all of your customers by email? Straight away you could cut your paper, printing and postage costs considerably. Maximise your cash-flow so you can invest in your growth

Invest in a new customer contact point. Start using Twitter and/or Facebook? They’re a great way to build your brand and target customers and they don’t cost anything to use.

Join a new business networking group. You’ll make new contacts with likeminded business people and not only will you get fresh ideas for your business, refer work to others, you’ll be amazed at how much work you’ll get in return.

Use your time efficiently. You’re the key to your business so don’t spend time doing things you can delegate to others. If you have good staff, use them. Likewise if you find yourself spending valuable time keeping on top of bureaucracy and administration like payroll, VAT returns, bookkeeping etc when it would be better spent looking after your current customers or winning new ones consider outsourcing.

Come and speak to us at UHY Peacheys, we’re experts at reducing the administrative burden of a small business and you’ll be amazed how much time and stress we can save you.