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Tips to prepare your business for 2009 and come out on top

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As the festive season approaches, a leading Government business site suggests that the holidays can create various challenges for business owners. Here are some tips to help prepare for the inevitable challenges which occur at this time of year.

The Government-funded advice site, Business Link, suggests that business owners pay particular attention to the following areas:

1. Staff Leave - Find an open and fair way of deciding who will provide cover over the holiday period if you need it.

2. Keeping staff motivated - Give staff clear targets of what you expect them to achieve, or they may start celebrating early. Try Bytestart's guide to keeping your staff motivated.

3. Managing cash flow - Identify and chase important invoices. Accounts departments may go on leave earlier than you expect. You can read guides to late payment and managing your cash in our dedicated cash flow section.

4. Security - For many businesses this is the longest period when no one is on the premises, and burglars know that. Review your security and ensure that all computer files are backed up off site.

5. Customers and suppliers on holiday - Be prepared for contacts to disappear from the middle of December.

To thrive in the New Year, the business advisory service also suggests business owners give priority to :

1. Getting a health check - Review the health of your business and identify potential issues and opportunities. You can get an online healthcheck here.

2. Reviewing cashflow - Dramatic changes in turnover, Christmas bonuses and low productivity, can all have an impact on cashflow.

3. Staff motivation - Staff can take a while to get motivated again after the long break. So set clear goals for the year ahead, to help your employees stay focused.

4. Tax - Deadlines are looming. File your tax returns early so you don't have a last minute panic.

Further Resources

Try these Bytestart articles for further business tips for 2009:

Tips to make your business more efficient in 2009
By making efficiency savings in all areas of your business you will not only help compensate for any downturn in trade, but also set in place good practices to help ensure the longer term success of your company. Some top tips to increase efficiency and save money in 2009.

Give your business a financial health check this year-end - Top Tips
A list of handy business tips for each of the twelve days of Christmas aimed at owners and managers who want to get their businesses fit for the New Year and beyond.

10 Top tips to improve the efficiency of your business
Controlling costs in a slowing economy is a relatively simple way to improve a company’s all-important bottom line, and so any steps that can be taken to cut costs while maintaining - or even boosting - productivity should be grasped with both hands. These top tips should help you improve your business efficiency.

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