December 6, 2017

How to Prepare your Business for the New Year

Wondering how to improve your finances ready for 2018? With the new year fast approaching, follow the small business accounting advice from The Kelvin Partnership and your company will be set for success!

A Glasgow accountant from The Kelvin Partnership will ensure your business and personal finances are in the best condition possible. We cover a variety of accounting services, from help with business planning to payroll advice. Give yourself a break at the end of the year and hire an accountant to help out in preparation for 2018.

Do You Need Small Business Accounting Advice?

Yearly Financial Review

business year review

Review and reflect on your business performance in 2017.

One of the first steps to improving your finances for the future is to look back on its past performance. Reviewing and reflecting on 2017 will allow you to identify areas of your company that may need attention. Also, make sure you look back on any achievements. Focusing on both positive and negative parts of business performance will only give you more motivation to continue to reach new goals in 2018!

Set More Goals

small business accounting advice for the 2018

Setting realistic goals for the new year will improve business finances and growth.

Another way of ensuring a successful business year is to set even more goals! It may sound obvious, setting goals is always a crucial piece of small business accounting advice. Our accountants will work with you to look back to the year review and produce new goals! We will refer back to these goals throughout 2018 to make sure everything is heading in the right direction. Not only will setting goals keep your business on a strategic path for the new year, it will give you, the business owner, a sense of where your company is heading and therefore make for a much less stressful year.

The Autumn Budget was announced in November, think of how this will affect your business in the new year! Look at our last post to learn more.

Talk to Staff

employee opinion

Ask employees for any views on business operations and how changes can be made for 2018!

At this time of year, everyone is looking forward to a fresh new start and is in the festive spirit. Take advantage of this Christmas season, give your employees the chance to have their say on important business matters! This will give your staff a chance to propose important changes or raise new issues. Also it will enable you to think of your business from their perspective. Though this may not seem a way of preparing your business 2018, it is amazing how listening to employees can give you different ideas about the business direction. This is particularly effective for small businesses, you can adapt your business operations to have differing benefits for the new year, simply by taking notice of employee opinion.

Take advantage of our accounting services in 2018!