Now that you’re back in harness and the business year is starting to pick up speed again, take the opportunity to focus on your business and lay the groundwork for a successful 2025.
Before the year gets too crazy, take a minute. What do you hope to achieve this year? Do you have an ambitious growth plan or is it all about pinpointing how to cut costs or increase revenue (or both) to improve cash flow and realise your goals?
Dust off your business plan. By regularly checking in with the plan and retuning as needed, you will know more about the current state of your business and where you’re meant to be headed. Identify vulnerabilities, take stock of your assets and insurances and create a regular reminder about the direction you should be steering your business in.
Your business plan gives you a macro view. Make sure it dovetails with the more detailed view of your cash flow plan and your tax plan. The monthly forecasts should support your broad goals for the year. And if they don’t, call us for a chat.
Keep up with this month’s tax obligations, such as PAYE and GST:
- 5 February: PAYE Large employers returns are due for the second half of January. File employment information within two working days after payday.
- 20 February: PAYE Small employers returns for January and large employers returns are due for the first half of February. (File employment information within two working days after payday)
- 20 February: NRWT / Approved Issuer Levy Payment and return due.
- 20 February: RWT returns and payment are due for deductions from dividends and deductions of $500 or more from interest paid during January.
- 28 February: GST payment and returns are due for the month of January.