Setting new financial year resolutions

Now’s the time to set yourself and your business new financial year resolutions. Make sure they have a real payback—in time saved, stress reduced or money in your pocket. That way you’re much more likely to stick with them.

For example:

  • Commit to a business plan
  • Review the business plan regularly (e.g. every quarter)
  • Talk to your accountant more regularly and don’t just discuss your accounts—talk about where you want your business to go and how you can get there, business planning, etc.
  • Develop a budget and measure performance against it
  • Improve work practices (for example, improve your debtor management).