18th July 2018
Operating a small business can be an all-encompassing experience. Small business owners are often the first to change or cancel holiday plans because of business concerns, which can often result in burnout if you do not make room in your life for relaxation.
Plan in advance – book your holiday at least six months in advance in order to get all your preparation sorted.
Consider closing – it may make sense to close your business for at least some of the period you’re away. Be warned, this may require additional plans and communications for clients, customers, suppliers and staff.
Contingency planning – if your business will remain in operation while you’re away, you need to consider how available you are likely to be during that time, and to make sure you have the right team in place to manage things when you’re offline.
Pre-plan and automate as much as possible – Talk to your bookkeeper and accountant for advice on whether any elements of your finances could be improved with better software management.
Being removed from your business allows you to see with more clarity what changes need to be made or implemented in your strategy and processes. A genuine break from business can have benefits for health, personal relationships and wellbeing.
"Securing your financial future is an important decision in everyone’s life and we wouldn’t entrust it with anyone else. Whether you are a passive or active investor, Momentum provides experienced,..."
Matt & Kirsty, Gold CoastNewbrocom Pty Ltd (ABN 39 152 026 330) trading as Momentum Financial Planning is an authorised representative of Charter Financial Planning Limited, Australian Financial Services Licensee Licence number 234665.
Momentum Financial Planning is one of a select number of businesses that has been awarded Certified Quality Advice Practice status by Charter Financial Planning. This programme sets an industry benchmark for providing high-quality financial advice. The certification is awarded based on industry qualifications, demonstrated best practise business operations and proven success in meeting the financial planning needs of clients.