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End-of-Year Business Planning Considerations

As 2021 draws to a close, it is important to make several end-of-year observations regarding key business matters. There are several factors you should consider at the end of the year when creating (or adhering to) your business plan.

 Update Your Employee Handbook

As a business owner, your employee handbook is one of the most powerful documents you can create. As such, it is important to review it annually and make any necessary changes. Have your business attorney review the language you use to ensure it complies with federal, state, and local laws and protects you and your business in the event of a legal dispute with an employee.

Schedule a Year-End Business Meeting to Review the Budget and Operational Procedures

Take some time to sit down with key members of your staff, as well as your business attorney and CPA, to review the 2021 budget, create the 2022 budget and discuss operational procedures. Consider what worked efficiently this past year, and which aspects of the budget or procedure may need to be modified to accommodate the way your business has evolved. Consider your growth goals and how your new budget will need to accommodate these goals. The end of the year is also a great time to review the performance of key employees and create new goals for the next year so the business continues to stay on the right course.

Discuss Your Business Needs with the Attorneys at Adelberg Rudow

The end of the year is a busy time, but there are several important considerations you should make regarding your business plan. Speaking with a business attorney can ensure the decisions you make will help you meet your goals in an effective and efficient manner. The attorneys at Adelberg Rudow are dedicated to serving as trusted advisors for their clients, and have years of experience helping individuals, families, and business owners develop business plans to help meet their goals. To learn more about the business attorneys at Adelberg Rudow, contact us today.

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