As Christmas quickly approaches, many of us plan to take our annual leave during the summer season.

After a challenging year, this break offers a chance to recharge alongside loved ones, often near a beach or lake, enjoying a few BBQs. While it's a crucial time for our well-being it's also essential to ensure the business is in good shape before we leave, so you can truly relax this holiday break. This break also offers time to think about the future of your business in the coming year.

Here are some top tips to ensure you return refreshed and ready for the New Year, rather than feeling stressed and playing catch-up.

Get your business affairs in order before the holiday

To make sure you enjoy a well-deserved and stress-free wellness break, prioritise getting your business affairs organised before you leave. From experience, the festive season can make it tough to motivate yourself to ‘finish things off’, but doing so is crucial as it will impact your well-deserved break.

Complete as much as possible before your break to truly disconnect. If some tasks can't be finished, communicate openly with suppliers and customers in advance. Clear communication ensures everyone understands the situation and aligns their expectations with yours, making it smoother for all involved. Good communication is key!

Make sure there's a solid cash flow plan for the festive season

The holiday season can pose cash flow shortages or challenges for businesses. Revenue tends to dip while operational costs remain steady.

Have a solid plan to cover your fixed expenses during this period. Consider discussing a temporary overdraft facility with your bank to ensure enough financial flexibility. Finding solutions during the festive period can be tough, as the whole country tends to run on a skeleton crew during this time. Creating a plan for the holiday break can often save you from last-minute stress.

Encourage your staff to take a well-deserved break too

It's an incredibly important time for your employees to all have a well-deserved break too. In New Zealand, with our holiday cycle, there are not many people that I chat with at this time of year who are not looking forward to (and needing) a decent break. If you're a business owner able to do so, I highly recommend encouraging your employees to take a proper recharge.

It's not just about doing the right thing; it also benefits the employer. Giving employees this time off tends to boost employee engagement in the coming year. People return refreshed and motivated, ready to tackle the New Year with renewed energy and enthusiasm. Plus, it helps manage your holiday leave liability, ensuring it stays at a reasonable level (no business wants to pay out an employee leaving with a hefty accrued leave balance).

Take time to reflect and set new goals

After you've caught up on rest and spent time with loved ones, it's a good idea to review the past year. Take time to reflect on the business success and (equally as important) areas that didn't go as planned and what you would do differently. 

With fewer emails and calls coming in, it's an excellent opportunity for reflection, learning, planning and goal setting.

This clear headspace offers the perfect time to set both personal goals and professional goals. Creating realistic goals and action plans for the upcoming year ensures you return from your break revitalised, prepared and ready to go after a well-deserved break.

Have a Merry Christmas and a Happy New Year

Wherever you may be celebrating this festive season, I and the BDO Team, wish you and your families well over the Christmas break. I hope everyone has a safe, fun and relaxing holiday.

Here's to a fantastic 2023 ending and a warm welcome to all that 2024 brings!