Blog

Be organised.
Keeping records can take away much of the stress when it comes to taxation time. Start now! Set-up processes, methods and systems for filing paperwork. Secure important documents. Make a 'photo' copy of documents as ink can fade.

Seek guidance
Not sure if an item is claimable. Don't hesitate, ask now rather than later.

Change in circumstances
Keep on top of things. Discuss any changes with your Accountant

7 Steps and Strategies for moving forward
Having survived the tough times now is the time to prepare your Business Recovery Plan. What will this look like? How to get started?
This begins by preparing to position your business for sustainable growth.
Step 1: Underpinning your Recovery Plan is the implementation of the best practice procedures. It is important to maintain a disciplined approach to working capital management, focus on increasing profitability and improving efficiency.
Step 2: Complete a Financial Health Check
Step 3: Undertake a situation analysis
Step 4: Review & Rewrite your Business Plan
Step 5: Review & Revise your Marketing Plan
Step 6: Remain focused on improving your cash position
Step 7: For more steps and strategies contact Blackburn Accounting. Contact our office today to get the templates and work through your recovery plan.