Firms should make the most of Christmas (From Business in Dorset)

Firms should make the most of Christmas

7:00am Thursday 11th December 2008

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WITH the economy under strain, many small and medium-sized businesses in Dorset are beginning to find conditions tough.

But, according to Business Link operations manager Ian Girling, small businesses in the county should not fall into the trap of thinking everything is doom and gloom.

“Now is the time to get your business in shape,” said Ian, who suggests business owners follow Business Link’s checklist: l Assess the business’ core activities. Evaluate the success of your products/services and how they could be improved.

l Review elements such as premises, IT and professional skills, and establish if anything is holding the business back.

l Review its financial position. This includes essential basics such as cash flow, cost base and growth forecasts.

l Gather as much information about rivals as you can and use it as a performance benchmark.

l Review your customer base and market position.

n You spend your whole year building and developing your business but when the time comes to enjoy the success that your business has achieved, how easy would you find it to leave it behind and forget about it for the extremely quiet Christmas period?

Many business owners do not feel a need to open during the Christmas period. Business owners may find they are only attending their premises for security reasons and statistics have shown that they could be wise in doing this, as this can be a very risky time of year for unattended shops and businesses.

This is where First Stop Security comes into the equation. Their bespoke Security packages for all types of business could be your ideal opportunity to close your premises and enjoy the Christmas period without having to worry about what is going on while you are not there. First Stop Security has a 24-hour a day Operations room, manned seven days a week and provides support to all of First Stop Security staff and to all of its valued clients.

n Make sure you stay on the right side of the taxman this Christmas if you’re spreading good cheer to your staff.

That’s the seasonal advice from Princecroft Willis (PcW), the Dorset chartered accountants and business advisers.

John Caithness, PCW’s business tax director, donned a Santa suit to hand out some “dos” and “don’ts” for firms.

It includes: DO: give small gifts such as turkeys and bottle of wines to staff. Believe it or not the tax authorities have the right spirit. They will not harass if you provide a bottle of wine or spirits for each employee at Christmas. Such a gift should be regarded as a trivial benefit and, therefore, incurs no tax or NIC. The business can still claim the tax deduction.

DON’T: give gifts of cash or vouchers to employees since these are taxable.

Contact John Caithness for details on 01202 663620 or email john.caithness@ princecroftwillis.co.uk.

n If you are looking to start up, expand or relocate a business within our area, Property Pilot offers a free service to those searching for the right commercial property.

The database is made up of a wide range of business premises and facilities and is available to view on www.investindorset.co.uk.

There’s something for everyone, ranging from town-centre sites to former farm buildings, business parks, waterside locations and airport-based property.

Whatever the location or size, Property Pilot can assist in finding the building to help your business.

Contact Joanna Rufus (01305 224797; fax 01305 225190; email j.c.m.rufus@ dorsetcc.gov.uk).

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