Alain Guillot

Life, Leadership, and Money Matters

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Which Areas of Your Business Are You Neglecting?

If you run a business, chances are, you’ve found that multitasking and becoming a jack of all trades is pretty important. There are so many different areas to focus on and you need to make sure that none are missed to ensure that everything remains up and running. There are plenty of areas that are fun to work in and that people make sure to focus on. But at the same time, there are areas that might not produce such intrigue and that become neglected over time. It’s important to pay attention to these areas, as often, they can be just as important as central business functions like manufacturing, marketing, branding, and more. Here are some of the most commonly neglected aspects of business operations that you may want to take a fresh look at.

Health and Safety

A commonly neglected area of many businesses is health and safety. But health and safety are so important. When it comes down to it, it’s perhaps the most important area to focus on when running a business. Health and safety revolve around the premise of it being your responsibility as a business owner to ensure those who work for you, come into your commercial premises, or use your products and services are in safe hands and don’t come into harm’s way. In most countries, there is legislation that sets out legal requirements for health and safety in the workplace. Now, this may not be the most fun or interesting area of business to focus on. But it is essential. You’re going to need to make sure that you are familiar with health and safety law and practice, or that you use professional health and safety consultants, to ensure that all practices and processes required are in place. From commercial property inspections to risk assessments, you need to make sure everything is in place for a safe workspace.

Accounting

Accounts can be difficult, time-consuming, and dull. But you do need to make sure that you keep on top of your books and know exactly what you need to know to file a full and complete tax return at the end of each fiscal year. Now, the majority of us – even if we are fine with numbers – can find much better uses of our time than doing our accounts ourselves. This is why we tend to use professional accountants or accountancy firms to take the hard work off our hands. Accountants know the ins and outs of the tax system, so can do so much more than simply make sure you file your returns correctly and on time. They can also figure out acceptable expenses and ensure that you’re paying the tax you need to, rather than overpaying.

These are just a few suggestions, but hopefully, some of the information will come in useful for you. Running a business is by no means an easy feat and it is very easy for things to get lost or missed along the way. By bringing them to light, you should be able to make your business the success it deserves to be.