Reviewing ’22 to help plan for the year ahead.

What are your business goals for 2023?

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement.

Last year, there were inescapable impacts on businesses, with some thriving, others failing, and others just getting by.

So, what kind of year was 2022 for your business?

Take the time to review the year and acknowledge all that has happened, good, bad or indifferent.

Examining the year objectively can provide valuable insights to prepare for the next business year. Planning and goal setting will help provide a focus for your business efforts.

Your Yearly Business Review

  • What were the most significant impacts on your business in 2022?
  • How well did you meet these challenges?
  • What worked well last year?
  • What systems, technology, products or services were successful?
  • What accomplishments can you celebrate?
  • What situation, event or experience provided the most significant learning opportunity?
  • What is your biggest challenge or frustration heading into 2023?
  • What did you most enjoy during the year? Do more of it.
  • What did you least enjoy? Do less of it!
  • Analyse your financial reports. Are you earning what you’d like to? Is the business sustainably profitable?

Get Ready for a Great Year

While there are many metrics you could evaluate to track business performance, we’ve given you just a few ideas to inspire your business planning for 2023.

Contact the team if you’d like to chat about what you can do differently this year to enable your business to thrive. We can help.

This article does not constitute financial, legal or tax advice. For specific advice applicable to your business, please contact the team at Kennedy Cross.

Lit sparkleres with golden lights behind Switch to draft Preview Update 2023 Year End Processes We're well into the final quarter of the year, with 2023 knocking on the door! But are you ready for the year-end? Have you done your homework when it comes to planning your business journey for 2023 and beyond? Let's take a look at the key ways to tie up your year-end and start the new year with a clear strategy to drive your business forward. Making your 2023 business journey that little bit easier The past couple of years has not been easy for the average small business owner. Cashflow will have been tight, prices and costs have been steadily rising, and the marketplace is ever-more competitive as we move into 2023. So, what can you do to make your life easier for the coming year? And what checks should you be making as we wrap up this final quarter of 2022: Is your bookkeeping up-to-date? Make sure you've entered all the expenses, costs and receipts for this final Q4 period. Check that you’ve scanned all the documents and receipts that are needed to finalise the books and meet your compliance requirements. With everything uploaded and matched in your cloud accounting software, you’ll make the job of wrapping up your period-end accounts much easier. Have you invoiced for all the work completed in this quarter? Look through your recent sales and projects to make sure that everything that should have been invoiced out has actually been billed. Work carried out in this period should be invoiced out in the same period so your accounts and cash flow all tally and reconcile neatly. Do you have any outstanding supplier bills or customer payments? Check your accounts payable to make sure you've paid all your supplier bills and that there are no outstanding debts to pay. Also, run an aged debtors report and see if there are any outstanding customer payments that have yet to be received. If you haven’t already, set up automated chaser emails for late payments so you can start 2023 with the best possible credit control processes and accounts receivable performance. Have you set your key goals for 2023? With your bookkeeping sorted, it's time to look forward to the new year. What are your aims for 2023, and how do you plan to achieve them? Set out your goals for the coming year, and make sure you communicate these targets clearly to the whole business. When everyone is on the same page, you make it easier to drive performance effectively. Do you have a business plan that's ready to implement? Put your goals and targets for the year into a detailed business plan. Set timelines, agree on budgets and make sure you're tracking progress against these – so you can see how well the business is performing. With the latest cloud tools and planning apps, you can get some amazing insights into your business journey and your overall return on investment (ROI). If you need help tidying up loose ends, setting out your strategy and getting everything into a workable plan, contact the team at Kennedy Cross, we will help you make 2023 a success story for your business. This article does not constitute financial, legal or tax advice. For specific advice applicable to your business, please contact the team at Kennedy Cross.  Toggle panel: Yoast SEO SEO Readability Schema Social Focus keyphraseHelp on choosing the perfect focus keyphrase(Opens in a new browser tab) 2023 Year End Get related keyphrases(Opens in a new browser window) Google preview Preview as: Mobile resultDesktop result Url › 2023-year-endSEO title preview: 2023 Year End Processes | Kennedy Cross Meta description preview: Nov 28, 2022 - 2023 is just around the corner. Are you ready for your year-end? We’ll help you tidy up the loose ends and get your business plan ready for the new year. SEO title Insert variable Title Page Separator Site title Slug 2023-year-end Meta description Insert variable 2023 is just around the corner. Are you ready for your year-end? We’ll help you tidy up the loose ends and get your business plan ready for the new year. SEO analysisOK 2023 Year End Premium SEO analysis Add related keyphrase Track SEO performance Cornerstone content Advanced Insights Toggle panel: Jupiter Page Options Layout Please choose the layout of this page. If you choose 'Default' then you may modify it from Theme Settings => Blog/News => Blog Single Post => Single Layout. Default Manage Page Elements Depending on your need you can change this page's general layout by making structral changes. Select Option Stick Template? Enabling this option will remove padding after header and before footer. Page Preloader? This option will enable preloader for this post only. 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This option only applies to Classic style. Landscape Featured Image This option will disable post featured image, video, audio and gallery (portfolio Post Format). Meta Section Using this option you can show/hide extra information about the blog or post, such as Author, Date Created, etc... Tags Using this option you can Show/Hide tags in blogs. Related Posts If you do not want to show related posts disable the post here About Author Box Disable the about author box here Author Email Using this option you can turn on/off author email in about author box. Comments Enable comments section for this post. Toggle panel: Jupiter Widget Options Toggle panel: Jupiter Styling Options Override Global Settings You should enable this option if you want to override global background values defined in Theme Options. Toggle panel: WPCode Page Scripts Post Block Summary Visibility Public Publish Today at 4:17 pm URL Stick to the top of the blog AUTHOR Sammy Armstrong Move to trash Yoast SEO Readability analysis: Needs improvement SEO analysis: OK Improve your post with Yoast SEO Categories SEARCH CATEGORIES Business General Information 2022-23 Federal Budget 2022-23 State Budget Business Planning Business Strategy Compliance COVID 19 ASSISTANCE Director ID Disaster Recoverhy FBT Fringe Benefits Tax Future-Proofing GST Jobs Kennedy Cross Careers Land Tax Management & Strategy Pricing Strategy Selling your Business Superannuation Superannuation Guarantee Tax Uncategorized Add New Category Select the primary category Business Tags ADD NEW TAG Management & Strategy (1 of 3)Management & Strategy Tax (2 of 3)Tax General (3 of 3)General Separate with commas or the Enter key. MOST USED Management & Strategysmall business supportcovid-19 grantsSmall Business AssistanceCOVID-19 SupportTaxGeneralFBT Year Enddirector idFringe Benefits Tax Year End Featured image Replace ImageRemove featured image Excerpt WRITE AN EXCERPT (OPTIONAL) 2023 is just around the corner. Are you ready for your year-end? We’ll help you tidy up the loose ends and get your business plan ready for the new year. Learn more about manual excerpts(opens in a new tab) Discussion Open publish panel Post Close dialog Featured image Upload filesMedia Library Filter mediaFilter by type Images Filter by date All dates Smush: All images Search Media list Showing 81 of 257 media items Load more ATTACHMENT DETAILS ewor-1.png November 28, 2022 228 KB 600 by 250 pixels Edit Image Delete permanently Alt Text Lit sparkleres with golden lights behind Learn how to describe the purpose of the image(opens in a new tab). 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