Sun, sea, sand…and work

Whether the Summer represents a busy time for your business, or alternatively offers a chance to reflect and make plans for the future, here we offer some Summer tips on how your business can make the best use of this period - and help to make this year the most successful yet. Going abroad Could international trading be the next step for your business? The new VAT Mini One Stop Shop (MOSS) makes providing digital services throughout Europe a much more streamlined process from a tax point of view. A wider scope means a wider potential customer base. However, as with most aspects of business, proper research is necessary before you start jet-setting. Buckets and spades Is now the time to think about renovating your business premises? With a number of employees on holiday it could be the ideal moment to make those vital changes without disturbing the workforce. Don’t forget that claiming relief on the cost of refurbishment can be a very effective way to lower your tax bill. Venturing off the beaten track Smaller businesses often have the potential to adapt more readily to their customers’ needs. If you have additional time on your hands, consider conducting customer surveys and market research - this may be the time for that vital product launch to boost your Summer figures. Cross-selling existing products could also improve slow sales figures without the need for extensive innovation. Also take time to consider what other demographics your services could appeal to. An insurance policy You wouldn’t think of going on holiday without an appropriate travel insurance policy. In a similar way, you can help to protect your business through regular analysis and effective forward planning. Taking the time now to analyse your business’s performance and to put in place strategies for the future will help your business to thrive. Keeping in touch Modern technology and the growing trend towards achieving a work-life balance mean businesses with a well-known flexible working policy are increasingly likely to attract the best talent. Even when you’re out of the office it doesn’t mean you have to be out of the loop. Laptops, tablets and mobile devices could be your key to effective management, and an effective team, wherever you are in the world. Just remember to switch off now and again! Holiday jobs If you are facing a gap in the workforce, then hiring a student or intern during the Summer period may allow you to tackle essential projects, or those which may not otherwise have been priorities. It will be valuable experience for them, and could be a source of innovation for you. The best young talent will be eager to make headway into the business world, with possible future benefits for your team. Contact us for the very best accountancy services and help for your specific circumstances.

For more information on Sun, sea, sand…and work talk to Hackett Griffey LLP