4 New Year’s resolutions you need to make for your businesses, to give you more time, more money, more knowledge and stay motivated

Resolution #1 – Give yourself more time

At Wilson Partners we work closely with many of our clients helping them develop long term business strategies which can be honed and evolved as demands and needs change. Our purpose is to help businesses make better decisions.

Using our vast experience we can helps identify strengths, weaknesses, conflicts and opportunities within your business and develop strategies and action plans to achieve your goals.

We will spend time with you discussing and questioning business aspects and then provide a detailed report scoring your business in 7 critical areas – we call them The 7 Pillars of Success. We will also benchmark the scores across your management team or board of directors. Wilson Partners can then identify priority areas, create an action plan and develop strategic goals.

So much unidentified time can be spent by businesses on initiatives to grow, but in the wrong direction. Let us give you give you more time this year and set you in the right direction.

Resolution #2 – Give your business more money

So you’re back from the Christmas break and raring to go. Doesn’t a cash windfall from HMRC sound like a great way to kick off the year?
The Government offers tax reliefs to reward UK businesses investing in innovation, known as Research and Development (R&D) tax reliefs. These can have a huge and valuable impact on small and large businesses. There is currently no deadline on the billions of pounds set aside for claims and the definition of qualifying companies is wider than you might expect although you can only claim up to 2 years from your financial year end – so the sooner you start claiming the more you could receive.

If your business spends money on developing new products, services or processes, or even enhancing existing ones, you may be eligible for a reduction in your corporation tax and / or a cash payment to reward their investment. The relief is equivalent to 33p for every £1 of qualifying expenditure. That can soon add up.
Wilson Partners can manage the whole process for you, so that your focus can remain on running your business and driving growth. Last year we claimed £650k for one client who wasn’t even aware they were eligible prior to our intervention. Now that sounds like an absolute no-brainer to us. Find out more about R&D Tax reliefs.

Resolution #3 – Give yourself more knowledge

When you’re managing a growth business you often need to make quick decisions in order to progress or even just to get things done. Most business decisions are dependent on a series of KPIs and financial data that you don’t have available and decisions can be made on the back of a fag packet or just based on a hunch or your basic insight. Of course we don’t underestimate the ‘hunch’ as often it’s what got you where you are. But imagine if every decision could be backed up by quality data, reporting and forecasting – then you could make those decisions more quickly and benefit from the knowledge that you know you made the right decision.

At Wilson Partners we have introduced Spotlight reporting to clients, designed to give you the data and information that’s most important to you on a timely and regular basis – empowering you to make the best decisions for your business. Learn more.

Resolution #4 – Stay Motivated

Motivation is key to getting things done and moving closer towards your goals. Motivation often comes naturally to many entrepreneurs, but things can change and external factors can impact your motivation. So we asked Ross Wilson for his tips on how to stay motivated. Read the blog here.