Business planning is essential for a Happy New Year
Make it a New Year Resolution to sort out your business finances and prepare yourself for a brighter 2020.
The reality is that many businesses will go into the New Year fearing for the future – but doing little or nothing about it.
However, the way to cure the midwinter blues is not to bury a business head in the snow but to enter the new year with a properly prepared plan to turn around a struggling business.
There is a full range of options that we can utilise to help people to decide how best to deal with their business and financial problems. Business owners who have their VAT quarter ending in November and December know that there will be a bill to pay in January or February and they need to be prepared for that.
It is vital to plan cash flow very carefully to make sure they can deal with their tax liabilities, not putting the thought out of mind and hoping it will disappear.
One of the biggest problems for struggling companies comes from such issues as the Christmas shut down and providing holiday pay, plus the fact that many customers will take Christmas as their own opportunity to pay late for goods and services.
And it is this accumulation of often unavoidable factors that can add to an existing problem, when followed by January tax and VAT bills.
The good news is that there are steps that can be taken to ensure a business survives into a new period of trading.
At Graywoods we pride ourselves on helping businesses to survive and to turn around.
Sharing the problem and exploring all the avenues for survival are the best options for anybody dreading the start of another year.
So avoid a financial crisis in 2020 and get advice now on how to turn around a struggling business.
To find out more about the company turnaround, business recovery and insolvency services provided by Graywoods call us today on 0114 285 9500.
We can help.