Preparing for 2023: A Small Business Checklist

It's time to take a look back at how your business faired in 2022 and create a plan for 2023 using the following HR and business tasks checklist.

It’s time to take a look back at how your business faired in 2022 and create a plan for 2023 using the following HR and business tasks checklist.

By Tim Dimoff

Closing out the end of the year is an important task for all small businesses. While it may not be the most fun thing to do, it is crucial to running a successful and profitable business. Properly closing out one year sets you up for success in the following year.

Here is a checklist that I use in my own business every year. I hope it helps you to organize your own end-of-the-year tasks.

HR tasks:

  • Review your HR issues and procedures. This includes a look at your employee handbook and all employee policies, including bullying and other workplace policies.
  • Review your compensation and benefits packages, including educational reimbursement, health and life insurance, and transportation subsidies.
  • Update your handbook to include any new laws that may have gone into effect during the past year. Also, remember to distribute the updated handbook to all employees.
  • Review your employee equipment policies to make sure they are in-line with your handbook.
  • Review your staffing needs, as well as your hiring and firing procedures. With the increase in workplace violence, this is very important. Budget for background checks for new employee hires during the next year.
  • Reward your good employees. Let them know they are appreciated. This can be as simple as a bonus, promotion, paid time off, flexible schedules or even a staff party. Any of these ideas can help boost morale as well as help ensure they will stay with you in the new year.

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Business tasks:

  • Review and audit your business procedures. This includes financial statements, customer feedback, website and e-commerce, management goals and more.
  • Make sure your business accounting is accurate and has been properly maintained. Run financial reports, profit and loss statements, cash flow analyses, income statements, payroll, etc. to assess your financial situation. Reconcile accounts receivable and review any outstanding invoices so you can collect on any monies due. A positive cash flow is crucial to success.
  • Review and update any vendor information. Take a look at your relationships and determine if a better deal may be negotiated.
  • Double-check your IT issues including your computer data back-up systems, paperwork organization, computer security systems, contacts, files and more.
  • Review your physical premises security including security systems, parking lots, employee security systems, entry and exit areas, etc. Budget for any upgrades or changes that might be necessary.

Preparing for 2023

  • Take a look back. Review your general business plan for 2022 and determine if you met your goals.
  • Look forward. Create a list of goals for 2023.
  • Prepare an action plan for 2023 that includes any changes or upgrades that will be necessary to meet your business goals. Make sure your new goals are realistic and attainable.
  • Meet with your accountant and attorney to make sure you are up-to date on taxes, changes in laws, etc. Determine if your strategies have worked or if you need to make any changes.
  • Check to make sure any licenses are up-to-date and renew any that are expired or about to expire.
  • Prepare your 2023 budget. Plan your inventory budgets and reviews.

Hopefully this checklist will help you to review and plan for a new year in business and will contribute to a successful 2023!

Timothy A. Dimoff, CPP, president of SACS Consulting & Investigative Services, Inc., is a speaker, trainer and author and a leading authority in high-risk workplace and human resource security and crime issues. He is a Certified Protection Professional; a certified legal expert in corporate security procedures and training; a member of the Ohio and International Narcotic Associations; the Ohio and National Societies for Human Resource Managers; and the American Society for Industrial Security. He holds a B.S. in Sociology, with an emphasis in criminology, from Dennison University. Contact him at


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