 From Greg Hayes’ article in StartupSmart
The Christmas season affects different companies in different ways, and it can have a significant impact on your business. For some it is a boom time, for others a period of significant dislocation. Because of these differences there is not a one size fits all answer to the best way to prepare for and manage the festive season. You need to look at your business model. Examine how the season affects your customers and suppliers. With this information, what you need to do is reasonably predictable. Any period where operating conditions change means that there can be impacts on your profitability and cashflow. You need to look at both of these areas. For the full article go to http://bit.ly/rXxjB3 In conclusion: The key here is to understand the effect of the period and build it into your budget. You need to do this both at a trading level and also in terms of cash flow. Once you understand the impact, ensure that you can afford it and don’t over commit your business. Too much Xmas spirit can be deadly. Manage the change period and your business will start the New Year fit and healthy. Greg Hayes is a director of Hayes Knight and specialises in taxation & business planning advice. |