Christmas checklist to ease any worries

Dec 22 2008 by Karen Dent, The Journal

A CHRISTMAS checklist for small businesses panicking about the festive period has been put together by Business Link.

The business support agency said firms can avoid potential problems if they plan how to handle issues that always rear their heads at this time of year. Its Christmas list includes:

1. Staff leave: find an open and fair way of deciding who will provide cover over the holiday period if you need it.

2. Keeping staff motivated: give staff clear targets of what you expect them to achieve, or they may start celebrating early.

3. Managing cash flow: identify and chase important invoices. Accounts departments may go on leave earlier than you expect.

4. Security: for many businesses, this is the longest period when no one is on the premises, and burglars know that. Review your security and ensure that all computer files are backed up off site.

5. Customers and suppliers on holiday: be prepared for contacts to disappear from now until early January.

The organisation has also put together some points as business owners look forward to the new year.

Alastair MacColl, chief executive of Business & Enterprise North East, which delivers the region’s Business Link service, said: “January is a great time to review a business and to make sure it is as fit as it can be to compete in the New Year.”

The New Year list includes:

1. Getting a health check - review the health of your business and identify potential issues and opportunities.

2. Reviewing cashflow - dramatic changes in turnover, Christmas bonuses and low productivity, can all have an impact on cashflow.

3. Staff motivation - staff can take a while to get motivated again after the long break. So set clear goals for the year ahead, to help your employees stay focused.

4. Tax – deadlines are looming. File your tax returns early so you don’t have a last minute panic.