Get Your Business Summer Ready

Harland Accountants - Get Your Business Summer Ready, our 5 Tips for Seasonal Business Planning

The summer season means different things to different businesses. For some, it’s the time to make hay, whilst for others, it can be a time when things really goes quiet as it becomes harder to do business with both suppliers and customers alike at a time when our own teams may be on annual leave too. It’s therefore super important to undertake seasonal planning and optimise your business for in a way that’s right for you and your business.

 Here are our top 5 tips to avoid feeling the heat this summer …

Have a spring clean

Take a view before peak season arrives to build a complete picture of what you have and what you need. Where possible, analyse sales data from previous years and any current trends to anticipate what kinds of products or services might experience a spike in demand and if appropriate, make sure you’re appropriately stocked. Contact suppliers with plenty of notice, to warn them of increased future orders. You don’t want to get caught short if/when things get busy!

Get your holiday money sorted

Managing and tracking your cashflow is important at all times of the year, but particularly so if you are experiencing highs or lows over this time. Inflows and outflows can change rapidly and dramatically, and things can get out of hand if you don’t keep a watchful eye on your cashflow. Ideally, build-up a cash reserve before the peak season so you have a cushion to fall back on if required. Prioritise your payments to ensure that your most critical bills are always paid on time, such as rent or salaries, and negotiate with your suppliers to see if they can offer extended payment terms or other concessions. If you’re struggling in this area, ask us about Cashflow Forecasting.

Have a summer fling

Consider taking on temporary staff to ensure that you can keep the wheels in motion either for any extra summer demand or because your own team (or you!) are taking a well earned break or maybe even juggling childcare. The last thing you want is for your existing team to feel overworked or overwhelmed at this time of year. A good recruitment policy ensures that you advertise your position early to give you time to find the best candidates.

Give your marketing a summer make-over

Consider updating the look and feel of your summer marketing strategies to give it more of a light-hearted, summer vibe. Include behind-the-scenes social media posts that show your customers another side of your business or include a few whimsical posts showing what your team like to do outside of work. You could even run a summer sales promotions to clear out old stock and highlight seasonal products.

Hit the beach!

Whatever is going on in your business, keep a healthy work/life balance. Take time out to soak up some vitamin-D, enjoy the longer evenings, and don’t feel guilty about taking a holiday! Whether that means spending time abroad, or just relaxing at home. We know that our clients find that their best ideas come to them when they’re taking some time out, proving that it’s essential and definitely not a luxury!

Holiday check-list:

To keep your business running smoothly …

  • Give your customers and colleagues plenty of notice to plan around your time off
  • Set-up an out-of-office response on your work email and resist the temptation to check whilst you are OOO (Out of office!)
  • Give colleagues a thorough handover so there are no dropped balls and you come back to harmony! 

Even a short break will alleviate stress and allow you to come back to work feeling refreshed and recharged ready to smash your business goals.

Your summer accounting check-list:

  • Annual accounts: The sooner you get your records over to us, the better position you’ll be in! Not only will you have crystal clear knowledge about how much tax you owe come 31 January, but you’ll have plenty of time to make a payment plan. Remember, you can file now but pay later.
  • Book a check-in with your Client Manager: All Harland clients can request a free, 60 minute catch-up with their dedicated accountant either in-person, virtually, or over the phone, where together you can talk through any financial concerns you might have and optimise your business for future success
  • Cashflow forecasting: Ask us about this insightful tool that gives you real-time insight into the health of your business

Good luck in using these strategies to help get your business in shape for the coming summer season, and remember we’re always on hand to help.

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