Posted by: The Ellis Team

What will 2023 hold for businesses?

2023 is well underway and we are already seeing businesses outline their key focus areas for the months ahead.

These areas will not only allow businesses to navigate the challenges that 2023 may present (e.g. the cost of living crisis), but they will also ensure that the business is in the best possible position come December.

So what are some of the key focus areas for businesses in 2023? We take a look below…

All eyes on cash flow

Of course, cash flow is king in any business and 2023 will be no different. But due to the challenges of the cost of living crisis, it has never been more critical to ensure cash flow is maintained month in, month out.

There are many facets to achieving this, from having a clear picture of business income and outgoings at all times is one, not to mention an effective invoicing and credit control strategy. Speak to your accountant for more support with your cash flow in 2023.

A strong emphasis on sustainability

Adopting a greener way of working has, of course, been present in the business world for a number of years; but more and more potential clients and suppliers are actively seeking businesses with ‘greener’ credentials.

Becoming a more sustainable business is not something that can be done overnight, and achieving this will differ business to business, but, if your business isn’t already, it is critical that you begin to consider a more environmentally friendly approach to your operations.

A rise in digital

The acceleration of technological advancements has been extraordinary in recent years and those businesses that are incorporating relevant digital practices are seeing a hugely positive impact.

Whether it’s to improve automation, ensure effective communication across office-based, hybrid and remote team members or enhance business security, finding the right technology can transform your business.

Director, John Farrell has said:

“The world of finance is constantly changing and at Ellis & Co we make sure we keep all our clients up to date whether it be changes to accounting and tax rules or on the IT side with changes and advances to accounting software. It’s key that we are ahead of the game so clients are as efficient as possible in every department.”

Here at Ellis & Co. we are very excited to see what 2023 has to bring, both for our business and for our clients. If you are looking to take your business to the next level in the next 12 months, we’d love to hear from you! Contact us today on 01244 343 504.

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