‘New Year’s resolutions may be a little cliché, but we challenge you to think of them differently, as we head into 2022…
Reframing New Year’s resolutions
Is the real problem that the New Year’s resolutions we set ourselves are unrealistic; that we’re expecting miracles? Should we replace the resolution label, with ‘goal’, ‘aspiration’ or ‘objective?
- Consider smaller, more attainable but clear objectives that serve to help you achieve something much bigger in the long-term
- You don’t have to be the focus; as a business owner, perhaps think about how you could apply goal-setting to your business instead
Whether you’re pushing for growth or are simply happy to maintain the status quo this year, the ideas that follow might help you on your way.
Five objectives to help you build business resilience
- Proactively determine whether your business could benefit from additional funding in order to continue to operate as normal, in 2022. As accountants and business advisers, we can help you to identify which solution is right for your needs and support you with any associated applications.
- Improve financial health, and decision-making, with better quality data and better use of that data. Regular management accounts, supported by the latest cloud accounting technology, is a good place to start. With these in place, other objectives such as reducing costs and improving cash flow will be far more attainable.
- Bring your business plan up to date. If your objectives for 2022 are not clearly detailed in your current plan, it’s time to revitalise it, and to make a commitment to keep it up-to-date.
- Minimise your tax liabilities with forethought and careful planning. Too often, business owners view tax planning as overly complex and overlook the opportunity to save significant sums of money. We can change that by reviewing your activities, taxable income and investments, and establishing a plan of action based on this assessment.
- Surround yourself with a sound network of support, and the right advisory input. You are not alone in your venture. A small investment early on in the year could deliver fruitful working relationships, and a successful 12 months to follow.
We can support you to do what you aspire to
If you think that George Hay might be the right fit for your business, contact us today to arrange a free initial consultation with one of our team in Bedfordshire, Hertfordshire or Cambridgeshire.
