SMEs urged to undertake new year review
Published On 10 January 2007 at 09:58:54
SMEs should take the new year as a prompt to review their practices to improve productivity, experts advise.The Forum of Private Business (FPB) has created a series of step-by-step guides to help SME managers improve the everyday running of their company.
FPB national chairman Len Collinson argues that central to this process is the need to allocate time to look at the bigger picture - which is demanding but rewarding.
Mr Collinson said: "There are many daily distractions, from the necessities of the workplace to unwelcome government red tape.
"However, time spent looking at the longer term can be most beneficial."
It is advised that managers look at the cash flow and assess whether financial arrangements are sustainable over the year.
Speaking to This is Money, Mr Collinson advised: "Check the forecast tax liability for the current year and ask what the likely liability is for next year. Your accountant should know whether you are making full use of all the available losses and capital allowances on equipment."
© Adfero Ltd
Related SME News:
- Postal strike 'would hit SMEs hard'
7 June 2007 at 16:23:50
Any strike by Royal Mail staff could be disastrous for small and medium-sized enterprises in the UK, a business group has warned. - SMEs 'encouraged to focus on emerging markets'
7 June 2007 at 08:56:14
Business groups have welcomed the findings of the Trade & Industry Select Committee's report on UK trade and investment (UKTI). - Government acts to protect SME workers
6 June 2007 at 09:00:30
The government has launched a pilot scheme to try and crack down on the bosses of small and medium-sized enterprises (SMEs) who treat their staff poorly. - Bosses 'can say no' to flexible work requests
30 May 2007 at 16:12:02
The bosses at the UK's small and medium-sized enterprises should not be afraid to refuse their staff's requests for more flexible working arrangements if they believe they will harm business. - Manchester SMEs 'oppose road pricing'
30 May 2007 at 08:51:09
The vast majority of small business owners in the Manchester area are opposed to the proposed road pricing scheme which could be introduced in the city. - Paternity rules 'will harm SMEs'
29 May 2007 at 14:36:30
New paternity regulation will harm the productivity of the UK's small and medium-sized enterprises (SMEs), a leading industry group has warned. - Workers 'want to quit if they can't progress'
25 May 2007 at 09:02:52
The bosses of the nation's small and medium-sized enterprises need to do more to make sure their staff benefit from day-to-day training opportunities, industry experts have claimed.
