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A leap year shoud mean more than just another day for SMEs

29 February 2008

The idea of a leap year means different things to different people - a chance to pop the question to your boyfriend, an extra day's work, your first birthday for four years. We believe that the leap year's extra day provides business managers with a real opportunity to take a step back, do some proper planning and get to grips with running their business.

With the economic outlook for the UK looking uncertain at best, it is more important than ever for business managers to ensure that they have strong foundations in place to weather any potential storms. However, too many managers simply don't have the time or the skills to be able to take control of their business. The idea of an exta day should be viewed positively by business managers.

Don't think of it as another day of fire fighting; view it as an opportunity to put some time aside to work on the business not in it. You don't have to do it on the 29th itself, plan the review over a manageable period but make sure that you do one complete day's planning. It can help to give you a fresh perspective and focus on where you are heading in the future. If there are storms ahead you'll be better placed to withstand them.

So the message is, business managers may think they don't have time to make a full review of their company's financial health, but in 2008 you can! February provides a precious extra day. So instead of ploughing on with the usual day to day processing jobs, business managers should put the extra day to maximum use and give the company a financial health check to ensure it is fit for the future.


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