Drummond Laurie Chartered AccountantsHappy New Year from us all at Drummond Laurie and best wishes for a healthy, prosperous and peaceful 2016 to everyone.  Whilst we have seen the signs of economic recovery over the last two years, albeit somewhat diluted in Scotland, this has been offset by much political uncertainty.  Firstly with the Independence Referendum in 2014 and last year the General Election.  One wish for 2016 is that the ongoing debate around EU membership does not have a similar negative impact on our recovery.  What we need more than anything is a period of calm and stability where businesses can build up their confidence safe in the knowledge that the major landscapes are not shifting around them.

Going into a New Year we would encourage all business owners to plan ahead, set your budgets and be clear about where you want to take your business over the next 12 months and beyond.  Identify the major risks which your business faces at this time and take steps wherever possible to mitigate these. Often these risks are ones of over-reliance, whether on a small number of customers, suppliers, staff or products.

2016 New YearThere is very rarely a magic button to press which will transform a business and almost always it is a series of very small changes which, cumulatively, take you to the next level.  Over the years, experience has shown us that the businesses which are most successful are those which embrace change and constantly challenge their existing practices and in doing so, identify these small changes.

Make it your New Year resolution to challenge the way your business operates and be prepared to change long established practices.  Don’t be left standing as your competitors surge forwards!