::this post ID is 3963::::in categories of ..Franchise ABCs....News..::

Year-end tips for businesses

Portrait of a young woman on phone in front of a laptop computerAs 2012 comes to an end, Nancy Harris, vice-president (VP) and general manager (GM) at Sage 50 Accounting, has come up with the following year-end tips for small and medium businesses (SMBs):
● Review and revise business plans by evaluating which strategies worked well during the year and which did not;
● Be prepared by reading predictions for 2013, staying abreast of business and economic news and creating an emergency plan to react and adapt efficiently to the ever-changing economic environment;
● Track spending and chart a budget to increase your financial control and to account for various economic fluctuations;
● Organize your digital and physical workspace by only keeping information and materials that are absolutely necessary;
● Perform necessary computer and software upgrades;
● Update client and vendor information to include mutual interactions and new or missing data;
● Prepare for tax changes in 2013 by checking with your provincial government’s website or your local chamber of commerce for any new regulations and then adjusting your financial documents accordingly;
● Evaluate your services and subscriptions to determine which ones should be renewed and which should be cancelled;
● Check your customer appreciation and retention strategies to keep clients coming back; and
● Solicit outside assistance if you have struggled with certain aspects of your operations in 2012.

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