Top 10 business tasks to tackle this EOFY

1. Talk to your accountant – to help you solve your business problems and find opportunities for growth.
2. Sign up for business events – networking is such an underrated tool for business growth. You can meet new potential customers, gather some great advocates for your business and also learn and train. Check out your local chamber of commerce or TSBE.
3. Apply for a grant - Applying for a government grant or program can offer support or funding to help you research, expand or find new ways to improve or grow your business.
4. Consider changing your business structure – As your business evolves, you may also have to consider a business restructure. Restructuring can help you to be more profitable, improve processes and adapt to the changing needs of your business.
5. Research the market – Learning about what your customers need and how to get your brand in front of them is a great way to expand your business.
6. Review your financial position – cashflow is still king. Check your income and expenses regularly, review unnecessary expenses, do another stocktake, is it time for a price increase?
7. Find new tenders and contract opportunities - Finding new tenders and contracts is a great way to grow your business. There are databases, tools and support networks available to help businesses find, apply for and secure tenders and contracts.
8. Expand your online presence - Make sure you’re doing everything you can to reach your customers. Maybe you need to add a new section on your website or create a profile on a new social media platform – what worked a few years ago might not be right for today’s digital landscape.
9. Review your policies and procedures - Make sure you’re running as efficiently as possible by reviewing your policies and processes – on everything from risk management to recruitment.
10. Hire the right people – As business grows, so should your staff, but ensure you are recruiting the right people for the right job and assess the impacts, costs and obligations involved.

This article has been sourced and adapted from the Australian Government website: https://business.gov.au/news/10-ways-to-grow-your-business-in-2024?utm_source=bga_newsletter&utm_medium=email&utm_campaign=bga_newsletter_20240326&atid=c677bbb71ab8350f