Subject: Small Business accounting - Christchurch earthquake - Strategic Planning - Accounting systems
25 January 2012 by: Jamie Cross - Cross Group Services Ltd
The pace of the rebuild in Christchurch appears to be quickening. With some building projects you sometimes see a short burst of building activity followed by a sudden slow down. What you will see in Christchurch is the momentum increase steadily over the coming 12 months and will likely extend well into 2021. That’s over a decade of increased activity not seen in New Zealand’s history.
The question is “Is your small business really ready to help rebuild Christchurch?”
Most small business accounting systems and processes will not allow you to compete with the big boys will be dictated by the way your business is perceived by your customers. Perform poorly in any part of your operation and your reputation and ability to grow will be hampered. Small business accounting out of shoe box will not let you achieve future growth.
Whether you are looking at starting out or have big plans for your small business; to assist Cantabrians with their rebuild there are 5 fundamental issues that need to be addressed:
If you don’t think that your small business accounting systems are up to the task or you answered no to any of the questions above contact your accountant as soon as possible to get help with answering these questions. Failure to answer these questions will result in your small business being left behind and you missing out achieving your growth potential.
The pace of the rebuild in Christchurch appears to be quickening. With some building projects you sometimes see a short burst of building activity followed by a sudden slow down. What you will see in Christchurch is the momentum increase steadily over the coming 12 months and will likely extend well into 2021. That’s over a decade of increased activity not seen in New Zealand’s history.
The question is “Is your small business really ready to help rebuild Christchurch?”
Most small business accounting systems and processes will not allow you to compete with the big boys will be dictated by the way your business is perceived by your customers. Perform poorly in any part of your operation and your reputation and ability to grow will be hampered. Small business accounting out of shoe box will not let you achieve future growth.
Whether you are looking at starting out or have big plans for your small business; to assist Cantabrians with their rebuild there are 5 fundamental issues that need to be addressed:
- Do I have a strategic plan in place to control my growth and do I have an exit plan?
- Are my processes and procedures properly documented to allow me to take time off?
- Is my administration technology up to date and capable of producing the KPI’s (key performance indicators) that are required to manage my growth?
- Do I have the right people doing the right jobs?
- Can my working capital support business growth (Cashflow)?
If you don’t think that your small business accounting systems are up to the task or you answered no to any of the questions above contact your accountant as soon as possible to get help with answering these questions. Failure to answer these questions will result in your small business being left behind and you missing out achieving your growth potential.
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