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Update: The Australian and New Zealand operations of Bibby Financial Services were acquired by Scottish Pacific Business Finance in late 2015 to create Australia’s largest non-bank invoice finance specialist. Welcome to our website.

SP refreshSpring has arrived and while you might be busy de-cluttering your cupboards and dusting down the cobwebs, it is an important time to focus on cleaning up your business too. Use the change of season to refresh your finances by reviewing business expenses, re-visiting business plans, and managing cash flow. We have put together 3 steps for spring cleaning your small business to help you achieve a fresh outlook and boost motivation.

1. Polish up your business plan

While many business owners wait until the end of the year to set goals for the New Year, spring is a great time to do some planning. Re-visit your business strategy and re-evaluate and set new goals and objectives. Analyse the progress that you’ve made and take a hard look at where you have fallen short. Are there any changes or improvements that need to be made to your business strategy to improve growth? Are the current products and services that you have on offer meeting your customer’s needs? A little planning can go a long way in achieving business success.

2. Clean up your cashflow

Take a good look at your finances. Are you on top of money coming in and going out of your business? Maintaining a healthy cash flow is vital in order to meet your financial obligations on time. Ensure invoices are raised in a timely manner and don’t neglect to issue statements and reminder letters. Get a handle on the debts that your company may have and pay off an outstanding debt where you can. Re-visit your cashflow plan and make notes on the good, the bad, and what you need to work on before the year comes to an end. Set goals to be bigger and better financially throughout the rest of the year.

3. Tackle the clutter

Nothing says spring more than de-cluttering, dusting and revitalising your work space. Create a fresh start for your business by catching up on administration and eliminating everything that no longer has a practical purpose. If your office has started to pile up with paperwork, sort out your filing system and ensure that you only file essential information such as purchase and sales invoices, bank statements and important customer data. Once your physical workspace is clean and organised, it’s time to tackle your computer. Begin by filing or deleting any old files on your desktop, then run software and virus protection updates and consider cleaning out your email inbox. It’s incredible what a clean up can do for both your business and your mindset.

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