Spring clean your business

Make sure all your financial processes are running smoothly:

• Take a look at your payments and invoicing, to ensure things like payment terms, invoicing methods and record-keeping are all up-to-date. 
• Cash flow is important to keep things running smoothly. Explore ways to assess and improve your cash flow with our new digital tools.
• Examine your pricing strategy. This could mean looking at your market, your competitors and your customer base and noting any changes you need to take into account.

Having an up-to-date inventory list will help you maintain your stock levels and give you a better understanding of what’s selling and what isn’t. This can help you decrease your costs and increase your sales.

Regular inventory checks are crucial to running an effective business, so take some time to do a thorough stocktake and make sure your existing inventory management process is effective.

Can you improve some of the processes currently in place in your business? It’s good practice to examine existing ways of doing things so that you can remove unnecessary waste, and potentially save time, money and reduce your carbon footprint.

Staff development and training is an important factor in any business. If your employees can see advancement in their employment with you, they are likely to have high job satisfaction and increased productivity.

Look at the skills you have within your team and identify any gaps that could be filled by training or mentoring existing staff members.

Spring is a time for growth, so finish up your spring cleaning by looking to the future. Our growing your business checklist has steps you can take, and covers everything from market research to knowing your obligations as you grow.