Posted by: The Ellis Team

How to kickstart your business after the summer break

Whilst summer often represents a time when many of us take a break, for the business world it can pose a number of challenges, particularly with team members on leave and those with children having the school holidays to contend with. But now September is nearly here, and it brings with it some form of normality.

But how can you ensure your business hits the ground running in September? Here are some top tips on how to finish out the year strong…

Prioritise

Ensure your payments are reconciled

We would always recommend that you reconcile your bank account on a regular basis; but it is understandable that this could be delayed during the summer months. Therefore, to ensure you start September in the most effective way, we suggest this be one of your top priorities. Our team offers several handy hints and tips for all things bookkeeping over on our Bookkeeping tips page that just might save you some time when it comes to reconciliations, go here to take a look.

Get your invoices up to date

It’s not just your business that will have experienced a slow down of sorts during the summer months, your clients will have also. As a result, you may find that some of your invoices have gone unpaid or are delayed. Of course, there may be genuine reasons why this has occurred such as incorrect details, staff absence, etc.; therefore, chasing for payment in a customer focused way is crucial at this stage to get their account up to date and put your cash flow in the best possible position for the remainder of the year, whilst maintaining those key customer relationships.

Plan

Cash flow forecast

Now your cash flow is where it needs to be following the summer, it’s time to plan ahead for the coming months with a cash flow forecast. This will help you to plan for the remainder of the year and beyond to ensure any issues (or indeed opportunities) are known well in advance. Take a look at our recent article on cash flow forecasting for more guidance.

Review your responsibilities

It can be very easy to become overwhelmed with responsibilities that may have built up over the summer months. At this stage, you should be reviewing your duties, highlighting priorities and delegating where possible to other members of your team.

September represents a very exciting time for the business world, and a time that the entire team looks forward to, therefore ensuring you get back into the swing of things following the summer months are key.

Looking for support with your accountancy requirements this September and beyond? Speak to our team of expert accountants today by completing our contact form or calling 01244 343 504.

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