5 tips for business owners in 2022 

Sarah Gee

  1. INCORPORATION STRATEGY 

Good planning is cheaper than undoing mistakes. The right co-founder arrangements and business structure set a foundation for success while minimising liability and disputes 

  1. GET IT ON PAPER 

With clients, suppliers, partners and personnel. Without them, managing performance issues, misaligned expectations, disputes and liability is difficult and will cost more 

  1. MANAGE YOUR DEBTORS 

With so many businesses experiencing financial pressure, don’t let your debts go too far. Writing off a small debt is far less painful than trying to chase a large debt 

  1. RESOURCE STRATEGY 

Set a strategy to manage if 40% of your workforce leaves this year and consider the additional recruitment pressures where employees have greater options in the market 

  1. LOOK AFTER YOURSELF 

Burnout is at an all time high. When you are ‘always on’ for your business, combined with prolonged stress from factors such as Covid, it’s important to be aware of the signs and seek help