For many small business shop owners, the time between Thanksgiving and New Year’s Day is one of the busiest times of the year. Fortunately, entrepreneurs can work with their accountant to get the most from the shopping season. Here are several ways your store can prepare for the holidays.

3 Holiday Preparation Tips for Small Businesses

1. Hire Seasonal Employees

To ensure your shop is fully-staffed over the holidays, start hiring and training seasonal employees in early November. The additional help will allow your team to handle an influx of holiday shoppers, ensuring every customer has the attention they need. Before creating the job ad, consult your accountant to determine how many people you can afford to hire and how much you can pay them.

2. Create a Holiday Budget

Work with your accountant to establish a budget for holiday advertising campaigns. The additional funds can be used to buy magazine, television, and online ads. You should also determine if it’s feasible to offer higher discounts on products and services without affecting the bottom line.

3. Stay Current on Bookkeeping

In the chaos of the holiday season, it may be more challenging to maintain daily bookkeeping tasks. Keep a strong line of communication with your accountant to stay on track with financial responsibilities, such as reconciling checks, vendor payments, and other payable recordings. Neglecting these duties may lead to financial gaps that can cause overspending and bounced checks.

If you’d like help preparing your business for the holiday season, contact the skilled team of accountants at the office of Wilfred E. Bucher, CPA, in Honolulu, HI. These professionals work with businesses of all sizes, and they’ll help you create a custom plan to meet your financial needs and goals during the holiday season. Learn more about their small business services online, or call (808) 528-4146 to schedule an appointment.