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By Janita Croxton
One of the most challenging aspects for a small business is seasonal dips in income. But there are proactive ways to predict, plan for and overcome these dips in revenue.
The key to dealing with seasonal dips is to know when they’re most likely to occur, and to have measures in place to spread your income and revenue pipeline over the course of the year.
Understanding seasonality in your sector
If your business operates in a seasonal industry, you’ll be used to the peaks and troughs, but many 'non-seasonal' businesses experience times during the financial year where sales and revenue peak – and, on the flipside, where sales and revenue experience a pronounced dip.
When income is low at certain times of the year, it makes for challenging times.
So, what are the key ways to plan for this kind of seasonality?
Talk to us about planning for seasonality!
If your business is struggling with seasonal dips, and the resulting impact on cashflow, come and talk to us. We’ll help you identify the timing of your seasonal downtime and come up with a clear strategy for stabilising your income across the year and improving your cash flow.
If you have any questions on tackling your seasonal dips – do not hesitate to get in touch with myself or your WDF Professional contact.
Phone 02 6921 5444 or email jcroxton@wdf.com.au
Accountant
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