Does your business close over the holiday season so you and your team can enjoy some time to rest
and recharge? If so, you’re probably looking forward to recording a new voicemail message for when
you shut the doors until January. Maybe you work through the Christmas period and only close for
stat days, or perhaps you’ll continue to work on those days, too. It all depends.
For many businesses, the weeks before Christmas are much busier than usual. If that’s also the case
for your business, you’ll need more stock, more staff or more cashflow!
You may need to get a temporary overdraft from your bank to ensure that you can pay for all the
additional stock and wages when your business gets slammed. Or if this time of year is more quiet
than usual, you may need the extra cash to pay for the usual costs and overcome the fact that you’ll
have less income for a while.
Paula Lines from The Law Shop explains that if your bank requires security over your business or
your personal assets, you may need to instruct a lawyer to get those securities in place.
“Keep in mind that banks and lawyers are also busier in the run-up to the festive season, so it pays
to get things arranged early to avoid there being any hold-ups,” Paula says.
She adds that you should also not forget to brush up on your obligations as an employer to pay your
staff holiday pay and time and a half where required and think about whether the normal payday
might be interrupted by a statutory holiday.
“While you’re at it, think about backing up your server and consider if you need to stop regular
deliveries such as the mail, or if the cleaner still needs to come as frequently when you’re closed. If
you stay open for business, you’ll need to check if your suppliers are available, too,” she says.
Paula mentions that it is also important to make sure that someone is appointed to look after your
business in case anything happens to you.
“You may need to appoint an attorney to ensure that the business can open up in January, even if
you’re unable to be there,” she says.
If you are unsure if you need a lawyer to help you get the necessary things in place for the upcoming
holiday period, feel free to contact The Law Shop to find out what’s best for your situation. The Law
Shop in Tauranga now works from a virtual office, and the Rotorua office on Arawa Street is open as
usual. For more information how The Law Shop’s legal services can help you and your business, call
0800 LAW SHOP.