I’ve worked with dozens of people in a whole range of industries, and the one thing just about every small business owner has in common is that on any given day there are a thousand things competing for your time and energy. It can be challenging to know which is the most important thing to think about right now, so I thought I’d give you a hand.
This is the perfect time to get all your ducks in a row to start the new financial year in a strong position. Here’s what to think about.
1. Do you need new vehicles?
For some businesses a vehicle fleet can be their biggest investment, and updating your vehicles needs to be managed carefully to reduce the financial impact. That makes now a good time to start shopping around, as dealerships are starting to roll out their end of financial year offers. Whether you’re buying new or used, dealerships are motivated to move stock at this time of year which makes it the perfect time to negotiate – or better yet, let me do it for you to get the best deal.
2. Do you need to upgrade your equipment?
Set aside 10 minutes to run through the equipment you rely on to operate your business and consider which items might have seen better days. Between the recently-extended Instant Asset Write-Off Scheme and historically low interest rates, now is a good time to invest in those upgrades.
3. Can you improve your operations?
In a similar vein, take some time to look at where investment in plant and equipment could positively impact your operations, by increasing production or helping you run your business more efficiently. Yes, it can require some cash up front, but this can be carefully managed to generate growth for your business. And working with a finance broker will help you to find the option that best suits your needs.
If any of these have been on your ‘things to think about later’ list, give me a call today on 0412 534 503 to have a conversation about how I can help you manage them as painlessly as possible.