Everything businesses need to consider before Christmas


Everything businesses need to consider before Christmas

It’s beginning to look at lot like Christmas. And while many of us don’t feel quite ready to see mince pies and tinsel on the supermarket shelves, everyone in business should be getting ready for “the silly season”.

Here is our checklist of things every business should consider before Christmas.

Prepare your Christmas wages

Christmas through to January is the time of year when most of us go on holidays. Is your payroll set up to ensure everyone on your team gets remunerated as they should over the festive season? Do you know who’s going on holiday and requires holiday pay (including leave loading, where applicable)?

Time to reward your staff

Many businesses give Christmas bonuses to their staff. It’s a great way to reward good employees, let them share in your success and create a festive spirit. If you give bonuses, it’s time to work out who made bonus and how much they’ll get. Look at your accounts, talk to your accountant or financial advisor and work out what you can afford to give.

If it hasn’t been such a good year, now’s the time to manage expectations. Let staff know not to bank on bonus income in their family budgets.

For more on bonuses and how to handle them, check out this great post from our team.

Lock in the holiday roster

Some businesses shut down over Christmas. For others, it’s the busiest time of year. Lock in your Christmas roster early so everyone knows who’s working when. Ask your staff to get their holiday requests in by an early deadline.

Closing the office?

If you are shutting the doors — be it for a few days or a couple of weeks — you need to let people outside the organisation know as well as those within it. Post your Christmas trading hours on your website, social media  and your front door.

Email your suppliers, contractors, customers and clients with your trading dates. Provide contact information in the case of an emergency, where appropriate. Send one email nice and early so everyone you do business with can plan around the closure, and send another email a few days before Christmas as a reminder.

Spread the festive cheer

The end of year is a great time to say thank you to your clients, supply chain and your staff. Don’t forget to spread the festive cheer. Whether it’s holding a razzle-dazzle event or just sending a personal email or picking up the phone, don’t forget to say thank you to the people who’ve helped you throughout the year.

Plan for the future

Don’t get so wrapped up in Christmas you forget about your New Year’s resolution. Take some time to think about what your business will look like in 2017. What improvements can be made? What are your goals? Dust off your business plan and have a look at it. What’s your 12-month strategy? What’s your five-year plan? Now’s a great time to sit down and think about the future. Talk to your accountant or financial advisor about making these dreams a reality.

If you’re looking to get your small business’ finances in order ahead of the New Year, why not sign up for a Reep free trial? With live access to your data, Reep gives you a helicopter view of information that’s constantly being updated in clear, visual representations.