Summer holiday? Time to do some business planning

Jul 7, 2023 | Business, Tax

Summer is a great time to relax and unwind, but it’s also an ideal opportunity to focus on your business planning for the upcoming year.

So whether you’re looking for a relaxing summer with fewer responsibilities or using the time to prepare for the next few years here are our tips for making the most of your summer break to plan for your business.


Automation and technology are your friends

Are you still entering information into spreadsheets manually? If you are, we’d ask the question: why, when there are tools out there that will automate data entry?

With improvements, integrations and a host of technological advancements ushering in a faster, more efficient way of doing business, failure to go with this new status quo could leave you by the wayside. At the very least, it means you’re spending hours of your day that you could be doing something else.

So what’s stopping you from using smarter technology? One of the main drawbacks is the setup and implementation of these programs into your day-to-day life.

You probably won’t want to migrate to the new tech in the summer, but by planning ahead, you can schedule everything for the winter months when things are quieter, just before the new tax year begins.

Now that you’re set-up, you can enjoy the myriad of benefits that automation can bring. Cloud platforms like Xero or Sage can completely revolutionise how you do business if used correctly, so it’s worth exploring their functionality to see if they can do what you want.


Create a marketing plan

Many businesses neglect marketing. But unless you never want a new client ever again, we’d argue that getting your marketing right will set you up for significant success over your competitors.

Incorporating tools like social media into your daily business routine encourages a front-facing attitude, and helps show your customers what you’re up to.

Going away but still getting pestered by calls? Use your socials to display an out-of-office message. Better still, show your clients that you’re human too, and give them a glimpse of what you’re up to.

Obviously, this depends on the size of your business, and for some, social media won’t be appropriate. But the evidence is there to support building a community, and indeed confidence, with 90% of social media marketers saying building an active online community is crucial to a successful marketing strategy in 2023, according to a Hubspot survey.


Get your tax done early

Having outlined the benefits of cloud accounting software, why not go the extra mile and take care of those tax deadlines now rather than rushing at the last minute?

The self-assessment ‘payments on account’ deadline is fast approaching on the 31st of July, so take advantage of the time you have left to get it sorted early.

Feeling stuck or overwhelmed? Give us a call so we can take a look at your outstanding tax obligations.


Payroll planning can go a long way

Getting your payroll done by an expert — like an accountant — sets you up for success, giving you hours of time you can use to plan and come up with new ideas.

We’ll incorporate into your existing working environment and make helpful suggestions as to where you could be improving things. But if you’re unsure, don’t worry — the benefit of working with countless businesses over the years is the experience it’s given us.

By having your payroll planned out, it’s another thing to tick off the list of potential worries over the summer months.


Embrace the time to relax

If you’ve planned correctly, and created a working environment that cherishes flexibility, now is the time to enjoy the nice weather and longer days.

Don’t stress about the small things; make sure you communicate your staff your plans, and stay flexible. Not every business is the same, but by aiming for a more relaxed working environment, you’ll create a sense that anything is possible, and your team will thank you for it.

Get in touch with us to discuss your business plans for the summer.

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