Business Performance Review – Now’s the Time!

Now that 2016 is underway, it is a good time to sit down and do some analysis as to how your business has performed over the last 6 to 12 months. Asking yourself some of the below questions may help you identify areas of improvement and opportunities to help grow your business into the future:

Question(1)• How is the business going?
• Are you happy with the results?
• Do you need assistance in the key areas of your business?
• Are you happy with the margins that you’re generating in your business?
• Are you carrying the right level of stock at the right times?
• Are you calculating the debtors’ days outstanding figure each month?
• Are you implementing strategies to reduce debtors’ days outstanding?
• Are you preparing budgets and cashflow forecasts? Are you then measuring your actual performance against the budgets?
• Are you aware of the requirements of the Fair Work Act, as far as your relationship with your team members is concerned?
• Are you conducting customer advisory meetings or contacting customers and getting feedback?
• Are you monitoring your competitors?
• Are you aware of government grants? Would you like some assistance in identifying government grants that could be applicable to your type of business?

We’re happy to have discussions with you relative to these items and any other financial management issues that may be causing you concerns in your business. Please don’t hesitate to contact us with any questions you may have.

Important: This is not advice. Clients should not act solely on the basis of the material contained in this article. Items herein are general
comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our
formal advice be sought before acting in any of these areas. It is issued as a helpful guide to clients and for their private information.

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