Spring clean your business

May 8, 2013

Croombs Chartered Accountants in Hampshire

Hopefully by the time you read this Spring will have sprung!

I thought it would be useful this month to talk about ways in which you give your business a spring clean to put yourself in the best position to make the most any opportunities which may arise.

Firstly make sure that you are financially in a position to react to business opportunities as and when they arise.  The best way to do this is to ensure that your customers know your terms of trade and they pay their bills when they fall due.  If they don’t pay on time consider placing them on stop to try to persuade them to part with their money.  Without cash you cannot grow your business.  Lending is still very tight at the moment and you need to look internally at ways of raising necessary capital.

Secondly go through all of the unsuccessful quotes from the past year and see whether it is worth contacting them again.  They may now need you!  They might have fallen out with their existing supplier and be on the lookout for a new one.  They may not necessarily remember the quote you gave them the first time so it’s down to you to help them remember!

Lastly make sure your team of staff have the necessary skills to be able to deal with any increases in trade or potential new projects.  This will help your company both in the short and long term.  Your team will be able to operate more efficiently which will then ultimately lead to improved results for the company.

You may be reading the above thinking it does not apply to me because you do not employ staff or have a very small business.  You can apply the above tips to any business, whatever the size.

Croombs Chartered Accountants are available for a free, no obligation meeting on how we can help your business, from helping you understand the numbers to discussing ways of minimising tax liabilities

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