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MVCU, small business
Home / Tools / Small Business Year End Success
Small Business Year End Success on 10/26/2021

Small Business Year End Success

In addition to the usual chaos of the holiday season, year-end can bring a lot of anxiety to small businesses. They come face-to-face with the ambitious goals they created in January, for better or for worse!  Either way, now is the time to close out the year as strongly as possible and prepare for a successful New Year!

On Track to End Strong?

If your business is on track to bring in far more in profits than you initially anticipated, congratulations! Naturally, this also means that the IRS will want to share in your success. Be sure to meet with your accountant in November to review your projected year-end numbers and plan for tax time so you aren’t hit with a big surprise in April. You may even be able to spend or re-allocate some funds before December 31 to reduce your tax liability, so don’t delay! 

If you haven’t done so already, you should also consider getting a business Visa card. This will help your business build positive credit and also help you better manage cash flow in times ahead. Merrimack Valley Credit Union offers a number of Visa card options including credit cards with no annual fee, cash back rewards, travel points, and many other benefits. Learn more here

Struggling with Cash Flow?

For some small businesses, this has been a year of ups and down. The holiday season and year-end financial responsibilities may also mean more expenses and less immediate revenue. If this sounds like your business, you may need to prepare for a cash shortfall in the coming weeks and months. In addition to doing whatever you can to bring in more revenue, you may also want to consider getting a helping hand from Merrimack Valley Credit Union. A small business loan or a line of credit could carry you into next year while you wait for customer payments or year-end sales to come in.

Contact our Business Services professionals to learn more about the opportunities that may be available to you, and what will work best for your situation.

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