Tips

10 new year’s resolutions for your small business

We are all well too aware of just how 2020 has been for businesses up and down the UK, and as the year comes to a close, business owners everywhere are beginning to create the right decisions that could benefit them in the new year. Allow us to walk you through some of the resolutions you could utilise for your small business, easing any feeling of pressure and allowing you to begin 2021 with a positive mindset.

1. Learn to delegate

As a small busines owner, you may feel as though you have to manage everything that passes through your business, taking up every minute of your time and even working you through the weekends to ensure everything gets completed. By learning to delegate some tasks and roles to other members of your team will allow your time to open up, ensuring that you have the allowance to be productive and continually plan for your business future – a job which is always required for success!

2. Keep your business well promoted

To increase upon your clientele in 2021, you will need to promote your business. Although it may seem like a small task which should remain at the bottom of your list, the option to expand upon your business and profits will fade over time if promotion isn’t a priority. You can do this in multiple ways, from designing and distributing bespoke office stationery, to hiring a marketing consultant – the options are never ending!

3. Join a networking group

Networking groups are a fantastic way to connect with other small businesses and like-minded business owners in your local area. By meeting virtually or face-to-face weekly, you will be able to share and spark ideas, as well as connect contacts together accordingly, aiding your peers with their company growth whilst they support you in return.

4. Set aside time to re-plan your goals

Setting one large goal to be achieved by the end of the year provides you and your business with minimal motivation. Once a month, put some time aside to create a goal that is to be completed within the next fortnight, month or quarter. This will ensure that your entire team remains productive and focused on your end goals whilst ensuring that morale is kept high when these objectives are reached and completed each time.

5. New purchases

Has there been a piece of equipment that you have had your eye on that could increase your levels of productivity? Maybe it even follows you home each evening, taking up every inch of your mind, but would cost an arm and a leg and so you pronounce it as ‘pointless’? Allow us to motivate you into taking that jump and invest. Any piece of equipment, any tool or any course that has a chance of improving the quality of your services is worth the investment.

6. Out with the old

Following on from the previous point, if a service you are offering isn’t reaching the standard you require, or a tool is only slowing down your processes, there is no harm in simply getting rid and finding a new way around!

As the genius Albert Einstein said, the definition of insanity is doing the same thing over and over again and expecting a different result.

It may seem daunting to have a sudden change of ways, especially with clientele relying on you, but without a change, you could be watching your businesses reputation fall.

7. Plan some time for you

We are only human, and much like anything else, we are bound to reach a point where we need a hard reset! When planning your diary, set aside some time for you. You may need to take a trip back to our first point and delegate some of your workload to another member of your team or even outsourcing it, allowing you to take back your weekends, use your annual leave to is optimum and even ensure that you find the time at the end of each day to spend with your family.

The last 10 months have been a challenge for us all and may have generated pressure and panic within many businesses. If you would benefit from our professional advice and support with your business this year, get in touch with our professional team at Hammonds Chartered Accountants by calling us on 020 8249 6328 or send us an email at where we will be happy to help you.