Insureon Blog

Your Year-End Business Checklist

28. December 2012 16:33

 

business checklist

 

What are you proudest of in 2012? Did one of your innovative marketing plans succeed? Did you land that big client you’ve been pursuing for years? Did you escape litigation because you were sufficiently protected by the business insurance you were smart enough to purchase? It might be helpful (and cathartic) to make a list of your accomplishments and failures in the past year and use it as a guide in your never-ending journey to do better as a business owner.

As you’re looking back at the year, here are some things you can still do to make for a better business next year:

Protect your business.You might have escaped the year without a major tragedy like Hurricane Sandy or even a business-breaking cyber attack, but you never know what the New Year will bring. Especially vulnerable are businesses that implement new technological advances like cloud computing without taking the proper precautions. You’re opening your business to danger if you haven’t thought of every angle that could present a risk. As part of your year-end actions, go over your business with a fine-tooth comb to look for areas of exposure. Better yet, call in a business insurance expert to show you what coverage you might be missing.

Cut your business taxes.Here’s what can you still do before the year ends to minimize your tax bite:

Get your payroll taxes in order. ADP Payroll Services suggests making sure these elements are in order:

Get organized.Don’t start the New Year off with your business in disarray. Clean up your office, get your files in order (both paper files and computer files), clean out your email inbox, and organize your business receipts. Who knows? You might uncover some business ideas you forgot about or discover a tax deduction you forgot to take.

Review these areas, too:

Take the time to assess your business now, and get off on the right foot in 2013.

Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Follow Rieva at Twitter.com/Rieva and visit her website, SmallBizDaily.com, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.

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General | Tips for All Small Businesses

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