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Is your business summer ready? Here are five tips from the Australian government to ensure your business stays on top of its game this season.
The summer season is different for every business. For some, it can be the busiest time of year, while others view it as a good opportunity to pause, look back on the year, and make new resolutions.
Whatever the coming holiday season means for your business, here are hot tips that can ensure your shop is in tip-top shape for summer.
1. Prepare for busy or quiet periods.
If the summer period is a particularly busy period for your business, it is highly recommended to plan ahead by increasing staffing and inventory levels to avoid getting overwhelmed by a surge in transactions or foot traffic.
Businesses are also advised to prepare for the worst-case scenario and create contingency plans for such risks.
For example, if a key staff member calls in sick over busy trading days, what impact would this have on your business? In this scenario, it is advised to train a replacement staff member that could help lessen the anticipated disruption.
On the one hand, if you expect to be quiet over the summer period, businesses are recommended to use the time for planning and upskilling for the coming period. Some activities businesses could undertake during the period include working on business plans, updating business websites or social media channels, and learning new skills by attending events and training.
The quiet period can also be a good opportunity to look for ways to expand the business.
2. Schedule marketing activities and communications in advance.
It’s no secret that the summer holiday period is a time when consumers loosen their purse strings, making it a great time to promote products or services.
To leverage this opportunity, businesses are advised to use tools and software to plan ahead and schedule marketing campaigns in advance. By doing so, you don’t have to worry about managing it when you’re too busy or on holiday.
Additionally, don’t forget to communicate with customers about any shutdown periods, cut-off postage dates, or changes to your operating hours.
3. Manage your cash flow.
The summer period can present cash flow challenges for some businesses. Cash flow issues can be due to several factors, including customers going away on holidays, which makes invoicing challenging, quiet periods with low income, as well as busy periods when accounting processes — such as record keeping — can slip.
To prepare for these cash flow challenges, businesses need to be one step ahead. For example, businesses can use accounting software to automate invoicing and help with record keeping.
If you’re unsure how to weather the holiday season financially, the Australian government advised businesses to reach out to a licensed professional for advice on how to manage finances.
4. Prepare for the heat and natural disasters.
Unfortunately, Australia is no stranger to bushfires and other natural disasters, particularly during summertime. On that note, businesses are advised to develop an emergency management plan to help protect their business.
If your employees will be working in heat, whether outdoors or indoors, remember that businesses are also responsible for managing the risk of heat-related illnesses.
5. Understand fair work rules and obligations.
If you are shutting your business down over the holiday period, it may be the best-case scenario for your employees to take leave at this time.
In this scenario, businesses are advised to direct employees to take annual leave while the business has shut down if your award or registered agreement allows it.
If no award or agreement applies, business owners should take note that employees can only be directed to take annual leave if the direction is reasonable.
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