Just as I was about to start this blog I did some quick research, only to find a fabulous article on the same thing, so why reinvent the wheel?
I’ll just reinforce this important message, as small business owners normally start getting busy tying up loose ends before the Christmas break or dealing with the sudden rush of clients and customers who want things done before Christmas.
Whilst some businesses do very well over the Xmas period, others suffer dramatically due to their customers all being away, especially manufacturers, some service providers, some finance sectors etc.
So those types of businesses tend to close over the Christmas period.
What many small business owners forget about is following up their debtors ( people who owe you money, if you invoice). This obviously applies less to retailers who collect money before they release their goods however as a retailer it’s important you remember to pay your suppliers before you close your business over the holiday period.
In November and December, chase your debtors and send out those invoices as early as you can.
If you are one of the ones that closes over January, remember you will reopen a whole lot of envelopes when you get back asking YOU to pay your invoices.
If you have not got your outstanding invoices collected you will have a cash flow problem that will spoil any Christmas cheer, especially when those credit card statements start coming in January!
Get busy sending those invoices out now so you will have a very Merry Christmas after all!