In your personal life you will most likely make some New Year’s resolutions (which you may or may not keep). But what about your business?

Midnight on New Year’s Eve is probably not the best time to make business plans for 2024, whilst the run-up to Christmas is always a busy time for repairers. It is also a great opportunity to take stock of your business, think about the opportunities and challenges ahead and at least put the bones of the new year’s plan into place, these can then be fleshed out early in the new year.

Whilst none of us have crystal balls, the consensus is that 2024 will be a better year for businesses. Business confidence is rising, aided by a new government coming in that will have a positive impact in a number of areas, inflation is falling, if a bit slower than ideal and at the moment it looks as if we will achieve the desired soft landing for the economy.

Households will still be under significant cost pressure with high mortgage interest or rent costs and inflation, this actually tends to benefit repairers as vehicle replacements get deferred, meaning more attention is paid to keeping the current vehicle running smoothly or even doing some minor upgrades.

Another aspect is to think ahead three to five years and think where do you want your business to be then, are there areas you should invest in to prepare for that, whether it is EV servicing capability, training, marketing or maybe looking to bring in house some work that you currently outsource?

Whilst thoughts turn to holidays, the quieter start to the year is also a great opportunity to tidy, clean and refurbish the workshop, offices and reception areas – a quick coat of paint can work wonders or clearing out the workshop to deep clean the floors.

Best wishes and safe travels to you all for The Christmas and New Year period from the Motor Equipment News team and we will see you back in 2024.