September feels like a return to serious business

Despite April being the start of the financial year, it's September that often feels like a new year for your business. Perhaps it's a hangover from childhood memories of returning to school for the new year, but September always brings a sense of fresh starts and renewed motivation.

It's an ideal time to take stock of where things stand and make adjustments to strategies, tighten up operations, scrutinise financial management and reassess goals. From reviewing performance and productivity, to improving internal processes, revisiting plans and assessing financial health, September is the perfect time to ensure the business is best positioned to make the most of the months to come.

Yet, this year it's been said that many companies are delaying taking business decisions, or committing to new strategies, until after the October budget. Not least because of the rumoured possibility of an increase in the rate of corporation tax, which is stymying many companies' plans for progressing these. The looming likely rise has undoubtedly created a cautious atmosphere.

While September can be the ultimate time for change and/or a time of transition in many ways, at this point in 2024 many businesses appear to have stalled on plans that might normally be put into motion.

Despite the unpredictability, September's unique position in the calendar makes it a critical month for businesses and a critical time for setting strategies. How businesses use this time will set the tone for the rest of 2024.

As accountants, we understand the need to be prepared on behalf of our clients. Whether it's an imminent increase in taxes or a shift in regulations, having a few strategies in place for different scenarios is essential. At GSM, by preparing for multiple outcomes, our client businesses can pivot quickly once the budget is announced and then move forward with clarity and confidence.

So, while September may feel different this year, it remains a key month for businesses. The mix of caution and optimism creates the dynamic where those who plan will be well-positioned to navigate the challenges and seize opportunities that lie ahead. To hear how your businesses can use this period wisely contact GSM today on 020 7486 1282