7 things every small business should do before ChristmasRebecca Bendikov
While Santa’s double checking his naughty and nice lists, make sure you check out our list of 7 tips to make sure your small business is all set for a jolly holly Christmas.
Get into the festive spirit
The end of a year is also a great time to celebrate and acknowledge the hard work and achievements of your team over the past twelve months. Start by creating a festive environment and getting creative with Christmas decorations, activities and events.
Connect on social media
Share gift ideas, a Christmas countdown or even special offers to engage with your customers and community on social media in the lead up to Christmas. It’s also a good idea to let your customers know about any closures you might have over Christmas and New Year’s.
Plan for expenses in advance
Christmas parties, gifts, holiday pay and (if you’ve had a great year) bonuses are all expenses that come up around Christmas time; so make sure you account for them well before the silly season approaches.
Hold off on non-urgent spending
While you may be feeling generous with friends and family, put the wallet away when it comes to business expenses. Things like repairs or maintenance can wait until the cash flow is more abundant.
Keep an eye on cash flow
Dedicated small business accounting software can help you get an overview of your regular cashflow and get a solid understanding of where your business is at overall. This information should be useful for making important financial decisions throughout the holiday period and the New Year ahead.
Thank and reward your staff
Most people who run a small business will agree that your team is your best asset – and the others are probably sole traders! While we spend a lot of time on our numbers, business plans and marketing strategies; it’s the people that make businesses great. Spend some time showing your staff that you appreciate all they bring to your business, and celebrate them.
Discuss holiday plans
Few people work harder than small business owners, so the Christmas period is a great time for a well-deserved holiday. Before taking off, chat with your team to make sure there’s a plan to keep everything running smoothly while you’re away. Delegate tasks, communicate expectations and leave instructions so you can take your mind off the business and relax.