End of Financial Year Spending That Grows Your Business
End of financial year is often a last-minute flurry of budget scrutiny, tax considerations and spending. There are a few ways you can best invest in your business if you have surplus budget or if you’re simply trying to keep your taxable income inside a reasonable bracket.
Getting the most out of surplus budgets before the end of financial year can sometimes mean impulse purchasing. Putting some considered thought into spending for your business can make all the difference coming into the new financial year. Don’t get caught up in the ‘asset’ trap – does your office need a new desktop computer, or are you just trying to run out the budget? Really think about what your business needs and invest wisely.
Some thought-starters for smart spending could include:
Market Your Business
We know once people get their hands on their tax returns, retail spending goes up. Stores begin their end of financial year sales to tempt us into pampering ourselves just a little when we have that little bit extra in our wallets. End of financial year is the perfect time to fire up a marketing campaign to drive customers (and their extra cash) to your business.
A smart way to use any extra funds, whether that be budget surplus or even your tax return, would be to invest in some marketing support. A beautifully designed banner advertisement, a website refresh, or even some branded collateral will be the gifts that keep on giving well into the new financial year.
You’re Worth Your Own Investment
The end of financial year shouldn’t be about spending for the sake of spending. Putting some careful thought into what it means to invest in your business (at any time of year) will ensure you make resourceful and potentially profitable choices.
If you think now is the perfect time to gift your business some much-needed marketing support, we’d love to hear from you!