Is this the first year-end period that your small business is going through? If so, it can seem like there are a lot of things to do at once. To stay on track and complete everything that needs doing, follow this small business year-end checklist and tick off each item one by one!
Review Your Business Goals
Your business goals may have stayed the same or altered during the year, and both are perfectly fine. One thing you can do regardless of what your goals are is to take a closer look at your revenue. Have you managed to hit your goal revenue? What things did you do wrong, and what can be improved on? If necessary, you may also wish to get your employees’ feedback and start on a new and improved plan to meet your goals next year.
Conduct an Inventory Count
If your business is in the retail sector, conducting an inventory count will allow you to discover which products are bringing in revenue and which ones you may want to reconsider. If your business provides services, you will also want to keep an updated inventory to ensure that you always have a ready store of supplies to meet your operational needs.
Assess Staff and Vendors
Now is the time to update your payroll information as well as award employees who have done well. Do you need to hire more team members in the coming year? Is it time to entrust a top-performing employee with more responsibilities? These are all things to consider.
You will also want to keep an updated list of the vendors you are working with. Can you negotiate better deals in the new year by increasing the volume of your orders as your business grows? Before the IRS deadline, remember to send 1099 forms to all vendors you work with!
Engage Inspection and Maintenance Services
With all the planning and paperwork settled, it’s time to get down to some practical work. Ensuring that your commercial property is in tiptop condition is a long-term investment that can benefit your business.
Not only can carrying out regular inspection and maintenance services increase the value of your property, but you can also be sure that your employees, tenants, and customers are kept comfortable throughout the year. You will also want to review your commercial insurance policies and determine if it still suits your needs.
Work with Stone Claims Group to Recover Damages to Your Commercial Building
No matter how well you take care of your commercial building, damages can occur due to factors beyond your control. When that’s the case, you can come to Stone Claims Group for public adjusting services with full confidence.
Never feel pressurized into accepting a low settlement amount from your insurance company without seeking the expertise of our public adjusters who works in your best interests. We will be there for you every step of the way, from policy analysis all the way to a fair and impartial claim settlement!