Business mistakes that could ruin your holiday

5

30% of entrepreneurs

don’t take any holidaysAND when they do many battle on

with business as usual…

According to Sage

3 in 4 UK small business owners work throughout

their holidaysWith almost half spending as much as three hours per day on business tasks,

according to a study by OnePoll on behalf of Xero

All business owners need a break to relax and reboot

So to help you enjoy your summer holiday here are 5 business mistakes to

avoid

Creating huge phone bills

1

BUT REMEMBER

Many business owners regularly check in at work whilst on holiday…

HIGH DATA CHARGES

TOO MUCH WORK

HUGE PHONE BILL+ =

1 in 5 UK holidaymakers returned home from Europe in the past year to find their bill

was, on average, £61 higher than usual

According to recent research by uSwitch.com

Amounting to £573million collectively

So, do your research…

Before you set off on holiday compare data roaming deals to get

the best package for your needs and avoid a massive phone bill

Not telling anyone2

Just because you are on holiday doesn’t mean everyone else will be

Make sure you set up an out-of-office reply on your emails so that your contacts know you’re away, or

redirect calls and emails to a colleague. This way you won’t miss out on any potential business opportunities

Abandoning credit control

3

You still need to get paid when youare on holiday

With small businesses spending nearly £11bn a year in their attempts

to recover overdue payments you can’t afford not to

Source: Bacs

BUT: Did you know you can outsource your credit

control and still get paid wherever you are?

A credit control agency can dedicate time and attention to your business’s credit management allowing you to enjoy your much-needed break

Missing payments4

Don’t come home to final demand letters and late

payment chargesBefore you set off make sure you set up and authorise payments for all of your due bills

If the summer slump has put pressure on your cash flow

consider new finance options

For example, invoice finance bridges the cash flow gap between paying suppliers and getting paid. This can mitigate the effects of waiting longer for

customer payments in the summer months

Forgetting to have fun5

YOU NEED A BREAK…

If you only take one thing from this presentation…

REMEMBER TO HAVE FUN

Getting away from it all can even benefit your business as you will return revitalised, focussed and

inspired

If you must stay connected…Dedicate a defined period of time each day to work and then switch off completely

Have a great holiday!

www.hiltonbaird.co.uk

For more business news, tips and guides please visit