Checklist for Your Business this New Financial Year
We are now into our second month for the 2016 – 2017 financial year which means you have done, your stocktakes, completed PAYG statements and give a sigh of relief, but do you have a checklist for your business?
It’s time to review, reset and plan for the year ahead.
Business.gov.au have identified seven key points that will assist you to help your business start the new financial year out right, that I wish to share their great idea and pass onto business owners.
Assess your business finances
Sit down with your accountant or bookkeeper and review your business finances. Look at whether you met your targets last financial year and what you can do differently this year to help your business grow. Want to know more … click here …
Check your business registrations and licences
Your business operations may have changed throughout the year, so it’s important to take stock of the current licences, permits and registrations your business holds. Want to know more … click here …
Review your bookkeeping system
Not only does keeping good records make running your business much easier, depending on your industry, you might need to keep certain records to comply. It also help you to keep track of how your business is going financially. Want to know more … click here ..
Update your business and marketing plans
Take time to set yourself up for the year ahead. Updating your business and marketing plan can help you review your goals and priorities, and assess whether your business strategies are working. Want to know more … click here ..
Get support and advice
Running a small business can be overwhelming and requires a variety of skills. From marketing to balancing the books, it’s important to remember not to be afraid to get help when you need it. Want to know more … click here ..
Review your business insurances
Check that you have the right insurance policies in place for your business, particularly if your circumstances have changed. You may need to update your level of cover if you’ve moved locations, started employing people or changed your business structure. Want to know more … click here ..
Backup and secure your business files
Don’t leave it until it’s too late. Backup and store your business registrations, financial information and customer data and other important business documents in a secure off-site location. Want to know more … click here ..
Sourced from 10th September 2016 – https://www.business.gov.au/news/7-step-checklist-for-your-business-this-new-financial-year
Thank you Business.gov.au for a great check list!
On a last note, if you want assistance our team at GDI Small Business Hub have many services that can help you and your business, a checklist for your business is a great way to start.