This year has either flashed right past us or dragged on too long, with very little in between.
News flash! Christmas is just around the corner, so if you’re in business, it’s time to get on track now to prepare for next month and the new year ahead.
So, how can you prepare your business for these festive times and closure of 2020? Is there a way to be savvy during the silly season?
Read more from your trusted Gold Coast accounting team at Crest Accountants to find out.
Stock check your supplies
When you review last year’s orders and inventory, you can definitely anticipate the number of basic supplies you’ll need.
Before you switch off mentally for the year, remember to order and keep on top of the basics:
- Shipping and packaging supplies,
- Essential office supplies, and
- Branded gift cards and/or small holiday gifts for employees, suppliers or valued clients if you’re feeling extra merry.
It’s always wise to stock check and complete your orders before the rush of the holiday period as vendors will probably be under pressure to get stock to you before holiday deadlines.
Remember that a cool, calm, collected and prepared business will help you meet your customer and clients’ needs with exceptional ease.
Schedule your holiday happenings
As a business, small, medium, or large, you may or may not have a change in operating hours over the so-called silly season.
Ask these questions before December hits:
- What will your business operating hours be over Christmas and the New Year?
- Will you shut up shop for a bit? Operate outside usual opening hours or less?
- Are any staff requesting time off?
- Will you take some time out for yourself? How much time can you afford to take?
Inform your customers and staff, too, of the potential holiday operating changes, or if it’s business as usual.
Get your digital ducks in order
Whether your business is ecommerce, service or product based, your digital ducks need to be in order too.
Here’s some digital holiday help for you:
- Make sure your website optimised, user-friendly and secure
- Update your website for the holidays to stay
- Be transparent and honest with shipping times and order cut-offs
- Promote Christmas specials or offers for the New Year
- Stay social across all platforms through the festive season
- Connect with email
Preparing for the festive season and building your business for 2021 is at your fingertips.
Retail Christmas period forecasts
According to Roy Morgan market research data, Australian’s were set to spend over $52.7 billion dollars across retail stores during the Christmas trading period of 2019.
But what about 2020’s Christmas trading period?
Well, according to Deputy CEO of the National Retail Association:
“Sales event such as Black Friday and Cyber Monday will also be taking place at the end of November and offer shoppers bargain prices less than a month out until Christmas.
The 2020 Christmas season is going to be absolutely pivotal for retail and we encourage consumers not to be shy in splurging on gifts. A solid festive season for retail will go a long way to mitigating the current economic downturn.”
Business accounting assistance is only one phone call away. Your trusted team at Crest are ready and willing to help you review this year’s performance to fast track your business goals for the year ahead.
Review your business goals for 2021 with a Gold Coast Accountant
Crest Accountants have been helping businesses from the ground up and reach their goals for over 45 years.
Time after time we’re turned to for help in the following areas:
- Business structuring and business asset protection,
- Start-up services and small business accounting,
- Cashflow forecasting and Business Tax Returns,
- In the Cloud accounting and Virtual CFO services.
Crest can help prepare your business for the festive season, the year of 2021 and a successful future ahead.
Do you need help ensuring your business is suitably prepared for the silly season and rocking and ready for the new year that lies ahead?
Contact Crest Accountants today for transparent and trusted accounting solutions for your business.