How healthy is your business? With all the day-to-day operational and management tasks to deal with, finding the time to stand back and look at the business objectively can be tricky.
But making sure your business is healthy and running well is a vitally important responsibility as a founder, owner, managing director or CEO.
The good news is that the Government has created a helpful Healthy Business Checklist.
Helping you check the important areas of your business
The Healthy Business Checklist is easy-to-follow and guides you through the simple, straightforward actions you can take to keep your business strong and ready to grow. This is especially important during the unpredictable economic times we’re currently experiencing.
The checklist guides you through:
Making sure you’re insured
If the worst does happen, you need to know you’re protected. So, it’s vital to check that you have the right business insurance policies in place, and that your assets, people and premises are all adequately covered.
Preparing a business continuity plan
With a business continuity plan (BCP) in place, you can identify the critical elements of your business and potential risks they face. Your plan allows you to recover and get trading, even when faced with a serious emergency.
Creating a cash buffer
Cash is the lifeforce of your business, so it’s sensible to manage your cashflow well and to make sure you have enough cash reserves to get you through tough economic conditions. Having that cash buffer can be invaluable!
Building strong relationships
Good business is founded on solid, trusted and valued relationships, whether it’s with your customers, suppliers or employees. Learning how to nurture these relationships is vital and helps you set the best conditions for growth.
Talk to us about improving the health of your business.
A strong, well-prepared business is in a great position to grow, generate good revenues and evolve alongside its customers, staff and other shareholders.
If you’d like to track your business fitness and keep on top of your cashflow and financial management, we’d love to help. Contact the team to book an appointment.
