With the end of the financial year (EOFY) fast approaching, many businesses have the accountant on speed dial. Yet it’s a great opportunity to review other aspects of your business, and make those changes work in your favor for the pending tax season.
• YOUR WEBSITE
Like most products, websites have a shelf life. Technology and design trends are constantly changing, therefore if your website is older than three years, it’s expired.
Websites are a solid business investment – they keep working when the rest of your staff have gone home. An up-to-date website shows your customers that you are a current, modern business, providing them with confidence in your products and services.
So, now that the EOFY is here, consider making a tax-deductible investment in your new website, and enjoy a fresh online start to the new financial year.
• YOUR BRAND
Business and logo go hand in hand, and most businesses like to stick with what they have. When it comes to branding, it’s smart to remain consistent, but it doesn’t hurt to review your logo on a regular basis.
More often than not, a logo needs to be tweaked or adjusted over time, especially if your business has shifted or changed since the logo was first developed. It’s also important to move with the times. Design trends are constantly changing to keep up with the modern audience, so a logo that was created in 1990 is unlikely to appeal to a 2021 audience.
Just like your website, your business brand is an investment. You may want to change it completely, as it no longer represents the company. Alternatively, you may want to enhance it to make it more appealing to the modern consumer. Either way, investing now means more tax deductions.
Don’t need a brand refresh?
No problem, there are still ways to invest now to save on that tax bill. Stocking up on any of your printed collateral, such as business cards, brochures, flyers and other materials all contributes to enhancing your business for the next financial year, while saving the tax dollars in this one.
• ANNUAL REPORT
At one time, annual reports were boring statutory documents. Not any more.
These days, organisations are using Annual Reports as a major communications tool, conveying in full colour the achievements of the year.
It is also a marketing opportunity to show your organisation’s identity and brand. The best annual reports help the audience keep the company in mind long after they finish reading it. A great report can boost stakeholder confidence and can attract more investors towards your company.
With so much to consider, preparing annual reports can be a long and stressful process, but it doesn’t have to be. By engaging some assistance early, you can get your annual report design flowing, making the entire process smoother and easier. An effective design will ensure you engage your audience, and deliver your message clearly.
The end of a year, be it financial or calendar, signals a time for review and a time for change. Use your EOFY to invest in the changes you need, with the added benefit of making them tax deductible.