Casual Workers Guide – Employment and Payroll
11 January 202411 January 2024
Starting off on a positive note for 2024 involves taking a good look at your business and setting straightforward goals.
As an accountancy firm and a business, we recommend focusing on the following to help your company start 2024 on the right foot and work towards success:
Update your Business Plan
The beginning of the year is a good time to take a look at your business plan and determine if any changes should be made to it or to the way you are running your business in 2024. Ensure that your business goals align with SMART criteria: Define Specific, Measurable, Achievable, Relevant, and Time-bound financial objectives. Clarity breeds success.
Apply Technology to Streamline Processes
Use technology to make your company more efficient. Consider using user-friendly bookkeeping software like QuickBooks or Xero for better organisation and a clearer understanding of your business's financial health. Automation can help you save time and money.
Specific Financial Goals
Setting specific financial goals makes it easier for you to make sacrifices or stick to a budget because you know what outcome you're striving for. These goals help you stay focused in the long term, providing purpose, motivation, and discipline in the process. Additionally, schedule monthly reviews to assess financial progress. Regular check-ins allow you to analyse statements and forecasts, adapting strategies for ongoing success.
Knowing Your Cash Position
Understanding your cash position helps you manage taxes, remuneration for the directors, growth, investment, asset purchases, team additions, and future projects. It provides valuable insights into your financial health, allowing for informed decision-making and strategic planning.
Hiring a Proactive Accountant
Don’t go alone. Speak to us to understand potential areas of financial risk and have a team in place to help you along the way with critical information. Additionally, consider professional collaboration by partnering with a qualified accountant for strategic insights, compliance, and unlocking growth opportunities. Working together with a skilled accountant can provide valuable support in navigating complex financial aspects and exploring avenues for business growth.
Setting up 2024 goals is a significant step towards ensuring your business thrives in the coming year. Consider these recommendations, and don't hesitate to reach out—we're here to support you on your journey to success.
