Christmas is over, you’ve stuffed yourself with turkey and chocolates, the in laws have gone home and you’ve recharged your batteries.
Maybe now is the time to sit back and start to plan for the year to come. Fitness plans and diets may not be your thing, but how about making some resolutions that will help your small business explode into the new year.
Not sure where to start? We’ve got you covered with our 10 New Year’s resolutions for small businesses:
Strategic business plan
While organic growth is great, having a plan on how you want the business to develop will help you focus on the areas that need your attention. This may be developing a marketing strategy or expanding your business into a new field.
When planning for your business it’s important to look back on your past year, see the areas you’ve excelled in as well as considering the parts that didn’t work so well. You can then create a plan and set targets for the coming year.
Make a website
If you’ve not already built a website, it’s a must for any business. In a world where most people use the internet to find services, an online presence is critical. As is the content you share.
When building your website, it is important to consider how you can maximise your Search Engine Optimisation (SEO) so that your website gains traffic.
Now you have a business website why not also include a business email address. Most domain host platforms will give you the option to create a personalised email. This will not only give your business a professional appearance but also make it easier for customers to remember.
With the current generation social media has become a marketing must have. You don’t need to start using all platforms, but it is worth investigating which may offer the best opportunities for your business and start posting.
When most services are available on a digital platform, as a consumer we all like to know there is a person at the other end. We crave connection and why not give your customers a little bit of this through your customer services. This doesn’t have to be complex but adding a webchat open in working hours or even taking the time to personalise email responses gives your customers the sense that you care.
Now you’re taking the time to give a little extra in your customer service why not reap the rewards by asking for their feedback. Not only will this help draw in new customers or clients but will also help boost your website optimisation.
Keep your bookkeeping up to date
One of the best ways to see how your business is progressing is to compare your income/sales across the year. This will also make the task of preparing for your tax returns a lot simpler.
There are several options when it come from bookkeeping from spreadsheets to online bookkeeping software, it’s all about finding the right method for you.
Set up a business bank account
If you haven’t already, having a separate business bank account is a must. It makes your business look professional, will help you keep track of your income and expenses and means you don’t have to give out your personal bank details on invoices etc.
Engage with an accountant
A lot of people might tell you that accountants are expensive, and you can file your own tax returns. This may be true but for a lot of business’s having an accountant is a benefit and can save them money. By engaging with an accountant, you also take away the stress of keeping your company compliant.
Here at 99p Company Formations we partner with Walton Accountancy to help you get up and running with your limited company. If you would like to discuss how they can help you and your business, why not give them a call on 02392 593917 or email them at firstname.lastname@example.org.
Register a limited company
Now this step is not for everyone but if you have been trading for a while this might be right for you.
Becoming a limited company will help give your business credibility and a more corporate structure. It also has the added benefit of limiting your personal liability and allows you to future proof your business.
If you think this is what your next step why not have a look through our website for more information on how we can help you do this 😊
We hope this has given you a little inspiration for the New Year.
Have a fantastic 2023!