30 Mar Happy New Financial Year
For those with a 31st March Balance Date, the new tax year starts on the 1st of April. This is an ideal time to look at what is working, and fix what is not. A great time to plan for your business and financial success. Success doesn’t just happen, we make it happen.
Now is the ideal time to reflect on the year and plan for a smarter, better future. It can be hard to find time to work on the business and not just in it, so book out a day, turn off the phone and set your new financial year off the right way.
1. Get a snapshot of your business
Write down all your assets and debts and take stock of where the business sits currently. Did you put away enough tax savings this year? What were your greatest expenses? If you struggle with cashflow, now is the time to get it sorted. We can help you with cashflow planning, and how to grow your cashflow.
2. Revisit your business plan
If you smashed your goals, it’s time to aim higher. If you haven’t got a business plan yet, make that a financial new year resolution. Having actionable goals and a clear vision can make all the difference in knowing how to tackle decisions this year. Talk to us now for help getting started or just us in our business plan workshop.
3. Set a budget and stick to it
Go through last year’s profit and loss line by line and looking at our article 7 ways to grow your business for the current year. Once you have a budget in place lock it and re-forecast each month based on current market conditions.
4. Ditch the paperwork
Take advantage of technology. Software like Xero or Tradify can help give you back your evenings, as well as ensuring you’re up to date with records from day one. Join one of our software training sessions for help. Not sure of your options, talk to us now for a free consultation.
5. Set new year’s resolutions
Set practical financial goals for yourself. Whether it be saving a certain dollar amount for the future or paying down debt, have goals and then reward yourself when they are met.
If you want to achieve more in the new financial year speak to us today. Our major focus is identifying opportunities in your business so you can make more money, save tax and streamline your business processes to help you get ahead faster.
Better yet, we will review your current situation at no cost. Whether you’re a client or thinking of making the change, our complimentary business review is an opportunity for us to check in with you. The meeting gives you the opportunity to discuss the following with our Business development advisor.
1. Your goals for your business and how you plan to achieve them.
2. How your business goals tie in with your personal and lifestyle goals.
3. Issues and challenges you are facing in your business e.g. growth, profitability, cashflow, a planned exit from or sale of your business.
4. How you can work with us to address these issues and plans.
Note: We only allow one complimentary review per 12 months, additional review meetings can be scheduled but these meetings will be charged.
If you’re not quite there yet. Take action and make your goals happen and claim your More. You can start this process by reading our Kick start your New Financial Year article and contacting us to book a FREE Proactive Accounting Meeting.