Year End for Business Owners: A Wonderful Time?
This is an article from the Bank’s financial education series Connections: Life & Money
“It’s the Most Wonderful Time of the Year”
The sentiment is nice but as a businessperson you already know that it can be far from reality. The dreaded end of the year. Your time is spent on a number of crucial issues:
- Working out last minute tax strategies that can be advantageous for your business.
- The budgeting process for next year: anticipating revenues and manage expenses.
- What about generating new customers so you can grow your business?
- Will this require additional personnel, new equipment or both?
- How will you manage the cash flow cycle of additional business?
- All of these questions to address before you even sit down with your accountant to do your taxes.
Even More Difficult This Year
With the once-in-a-lifetime (hopefully) year we’ve had in 2020, it is even more important to understand the position your company holds entering the new year. Questions about how the pandemic, political forces and general economic conditions will occur in 2021 leaves business owners less confident about how to proceed in annual planning.
Ask a Trusted Advisor
You trust your accountant, attorney and insurance agent to provide you with the advice and guidance you need to keep your business safe and profitable so you can get back to doing what you do best: running your business. Mars Bank can also be your trusted advisor.
From state of the art online banking tools and cash management services to creative and competitive financing options, every one of our experienced professionals at Mars Bank is ready to be an integral part of your trusted advisor team. As Your One True Community Bank, you can count on local decision making. We are ready to lend you a hand, quickly and efficiently.
Planning for the New Year
Stay ahead of all the things you need to do before the year comes to a close. And while you’re at it, give Mars Bank a call today because now is the perfect time to start a new banking relationship. We’ll help you make it the “most wonderful time of the year” for many years to come.
Contact your Mars Bank commercial banker today, or call 724.625.1555 ext. 250 to get connected. And have a great year end and safe and profitable new year!