NEWS

Christmas lists aren’t just for kids and Santa Claus. Before summer arrives, tick off our small business Christmas checklist to ensure you’re in the best possible shape for the year ahead.

 

Plan cash flow

Make sure your business has enough funds on hand to pay suppliers over Christmas and January, remembering your tax obligations in the first month of the year.

Prepare your cash flow forecasts well in advance and consider holding off on big investments, renovations, and upgrades until well into 2024 if things are tight.

 

Try Christmas marketing

As we all know, people love to spend money at Christmas, so why not take advantage of the mood with a personalised Christmas promotional campaign? It’s not too late to send a marketing email to your customers thanking them for their business — and it can help build brand loyalty.

 

Review your website

Web traffic tends to spike over Christmas, so make sure your website is working well without any glitches before you clock off. E-commerce problems can be hard to fix while everyone is away, so ensure web and mobile sites are up to speed.

 

Check your inventory

Don’t guesstimate your inventory or leave things to chance over the summer; make sure your business has enough stock to meet customer demand. Check how much stock you used last Christmas for a guideline.

 

Sort out staffing schedules

Getting to Christmas and discovering no one is rostered to cover late December and early January is a nightmare scenario. Avoid that worst-case outcome by planning ahead with your staff. Ensure employees take turns to cover the most inconvenient times of the year to keep things fair.

 

Chase up invoices

Chasing up late payments is a pet hate for every business owner. If you have overdue payments in the run up to Christmas, chances are the situation will get even worse in the New Year. Make sure you get paid in full before the summer break.

 

Get some rest

Christmas is an important time to get some well-earned rest, so schedule time to relax! A recent study found that New Zealand workers are more likely to suffer burnout than in any other country. Take the time to reset so you can walk into 2024 with the right mindset.

 

Disclaimer

This information is intended to provide general advice only.  We recommend you discuss your specific situation with your Accountant.