Planning & Growth

The start of a new financial year is a great time to do some thinking and planning as to what is happening in your business. A good place to start is – What is the purpose of my business? How much do you want to earn? How many hours are you prepared ...

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Periodic Financial Accounts – Each month we consider questions related to the preparation of a business plan. This time we’re looking at periodic financial accounts. Are periodic financial accounts prepared throughout the year? If so, how often? Are other periodic accounts prepared on a detailed management basis to assist management ...

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Taxation – Each month we consider questions related to the preparation of a business plan. This time we’re looking at Taxation. Have adequate systems been implemented for recording transactions relative to income tax?   Pay As You Go installments?  Pay As You Go withholding amount (withheld from salaries and wages)?  Pay ...

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Budgets and Cashflow Forecasts – Each month we consider questions related to the preparation of a business plan. Budgets and Cashflow Forecasts seem especially relevant at the moment as more and more banks and requiring this information from small business before considering finance arrangements. Do you prepare budgets on a ...

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Benchmarking – is very important to enable the small business to compare its business operation with other similar businesses. Does the business have its performance figures compared to other businesses? Benchmarking comparisons can assist in measuring your business performance in a wide range of key performance indicators including:  income per ...

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It has been a while since we add our series of Business Plan Questions to Consider. Let’s pick it up again with WIP (something us accounting types are obsessed with tracking). Work in Progress  If you are operating a Work in Progress system, are all costs adequately recorded:-  Labour?  Material? ...

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Stock We are continuing our series on questions you should consider when preparing (or updating) a business plan. In this post we’re looking at stock. Here’s some food for thought:  Do you conduct regular stocktakes?  Do you identify slow moving, obsolete or damaged stock?  Have you used a stock matrix to ...

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Debtors This post marks the half-way point for our series on questions to consider when it comes to writing your business plan. I keep coming back to cashflow as a critical issue for business and this is especially true if you will be providing goods or services on account. What ...

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Human Resources We are almost half-way through our series on questions to consider when it comes to your business plan. Before we jump into questions regarding Human Resources, I’d like to stress something here:  If you are going to employ staff you MUST keep yourself informed about your employees rates and rights.  Frankly, ...

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We haven’t visit the Business Plans series in a while so let’s get back to it with a look at imports. Imports Do you import products or services from overseas? Have you visited suppliers overseas? In what currency do you purchase imports? Do you take forward exchange cover to cushion ...

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Staff Development Some of the questions that should be considered in reviewing staff development as part of the preparation of a business plan: Do you have a staff development plan? Do you encourage your staff to develop their own skills? What additional skills would you like your staff to develop? ...

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