Which key areas should your small business focus on in 2020?

WHEN SHOULD A STARTUP BUSINESS INVEST IN OUTSOURCED ACCOUNTANCY?

Which key areas should your small business focus on in 2020?

Now that 2020 is well underway, all small businesses in the UK will be looking at how they can grow over the coming year.

Many of the decisions here will rest on where any attention should fall within your organisation. As any business owner knows, there are many areas within a company which are critical to the overall success of it. But which are the most important you should focus on first to make 2020 a great year?

Accounting

Extra focus on accounting is certainly one thing any small business could benefit from. Keeping an accurate track of your business accounts will help you to know exactly what is happening in your business and how your finances are looking. This becomes key when you begin to make important decisions throughout the year, based on the figures you work from. Of course, putting more focus into your accounts or payroll will also help you to see where you could save money and also ensure all the information you need for future tax returns is updated regularly.

Marketing

Marketing is something that all businesses will do to some extent already. It is, however, one area which would benefit from more attention in 2020. Doing so will help you to get your brand in front of more consumers and reach more people. It can also help you to build more authority in your industry and find other businesses to network with. The great news is that this does not have to cost much. Marketing tools like social media and email cost nothing to use and can deliver great results.

HR

Another key area for any small business looking to grow in 2020 is HR. This is vital for ensuring you recruit the right talent to help move your company forward. HR is also a crucial area within a business for keeping staff happy once with you. Getting this right will enable you to provide continuing professional development to employees and help them become more valuable to your company.

Let SQK Accountancy help with business accounting

Although accounting and finance are key to focus on in 2020, you may not have the time, skills or inclination to do so. If that is the case, let the experts at SQK Accountancy help! Based in Manchester, our professional team of accountants will use the latest Cloud-based software to keep your finances in order. From limited company accounting to business start-ups, we can help. Get in touch to see how we can help you!

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