We’re getting close to the end of yet another year and 2020 is nearly upon us! Now is the perfect time to start reflecting and setting some new goals for the year ahead. Read on to find out what our tips are for preparing for the new year as a tradesperson.

Stay vigilant about tool theft
Unfortunately, tool theft is still a problem and something that isn’t going to go away in 2020. So, here are some tips to remain vigilant going into the new year -

• Try to park somewhere where your sliding or rear doors are up against a wall or sturdy fence so that they can’t be opened. Also, try to park in well-lit areas which are in view of CCTV when you can.

• Store your tools sensibly - in terms of storing your tools overnight, it’s a good idea to avoid leaving them in your van where you can.

• Mark your tools with something that makes them easy to identify in case they do go missing.

• Make sure you keep a note of serial numbers and any other data relating to your tools. Providing this sort of information can help police identify your tools if they are found, as well as easing the process of making an insurance claim. Following these tips will hopefully help to reduce the likelihood of your tools being stolen in the new year.

Check your insurance
If you are unlucky enough to have your tools robbed, making sure you have tool insurance in place can help you get back on your feet quickly. There are companies who will insure any hand tools, power tools and plant equipment against loss, damage or theft.

Other types of cover tradespeople should consider are:

• Employers’ liability insurance - this is a legal requirement if you employ any staff members, it can protect you if an employee gets ill or injured as a result of working for you.

• Personal accident insurance - this type of cover will pay out if you’re injured while working.

Plan your finances
It’s really important for tradespeople to plan their finances for the year ahead. Keeping an eye on your income and outgoings can help you budget and monitor how your business is performing. Here are some things to bear in mind…

Late payments
A problem that tradespeople can sometimes face is customers who are late paying their invoice. This can cause significant cash flow issues for many tradespeople To try and prevent this, make sure you invoice properly, including information on when you expect to be paid and follow up effectively with customers who have fallen behind. 

When you expect to be busy and quiet
For many tradespeople, work can be seasonal, so knowing when your quiet times are will help you prepare for them effectively. It will help you to not overspend when you’re booming, allowing you to save for times when business is quieter.

Set some goals
It doesn’t matter what type of business you run, you need to make sure you set some goals for the new year as this can help you stay on track and keep you motivated. It’s also important to reflect on this year and ask yourself whether you achieved the goals you set previously! Have a think about where you want to take your business in 2020 and then plan how you’re going to achieve that! 

Ensure that you maintain a work-life balance
Finally, make sure that you include some downtime in your schedule for 2020. Whether it’s to spending time with your family, friends or to do your favourite hobby, having a good work-life balance is key to maintaining a happy and productive life.