Time for Spring Cleaning!
06/04/10
Time for Spring Cleaning!
Tuesday 6th April 2010
Now is the time to clear out the deadwood and make sure you are ready to spring your business forward with all your legals cleaned up for the challenges ahead.
The business team at AES Winterbothams headed by Peter Mardon, Managing Partner, suggest it is time to consider the following:
1. Your Trading Style – is it the right time for change? Seek advice on the merits of being a sole trader, partnership, LLP or limited company.
2. Your Terms and Conditions and Operating Systems - when were yours last updated? They will need amending as your work practices and the law change.
3. Your Employment Contracts and Policies – do you have contracts for everyone which protect your business and policies in place which comply with employment legislation? Do you comply with all statutory requirements such as health and safety? Is your data protection registration up to date?
4. Your Insurance, Utilities and Assets – are your policies or contracts up for renewal? Consider changing providers and watch out for contracts that automatically renew for a further (often long) period if you do not provide notice at the correct time. Protect any trade names or trade marks by registering them.
5. Your Cash Flow – Is your credit control system really working for you? Do your customers know when you will chase and when you will charge interest? Do you have a solicitor who can chase debts for a fixed fee? Have you put in place directors’ guarantees or credit limits? Don’t forget also to credit check your business and its directors to check for identity theft.
Take time to step back and spring clean your business. Once the cobwebs are out there’s nothing stopping you!
If you would like any further information or advice on any of these issues please contact Peter Mardon on 01453 847210 or prm@aeswinterbothams.com. This article provides general advice and cannot be relied upon in any particular case.