The latest exclusive article for SMEWeb from Small Business Commissioner Emma Jones CBE. Emma runs the independent public body that tackles late payments and unfair payment practices.
It’s the summer month – and aren’t we just feeling it! One of the elements to running a successful small business is productivity, i.e. maximising the time you have in order to deliver results. For service based small firms, August can be a great time to re-equip for the rest of the year whilst clients are on leave.
Here are four areas of the business to review and refresh.
Sales and marketing
Are your pitch decks up to date, the ‘About us’ section of your site current, and social channels all on form? If not, this is the month for updating content on how you present yourself to prospects and clients. Maybe even a blog or social media post on milestone moments from the year to date to show how the business has grown and developed in the first seven months of the year.
Team
If you have team members, whether full time or freelance, this could be the time for a resource review and, dare I suggest, to bring yourself up to date with any changes in employment legislation (past or present) that might impact the business.
Finance
How is the cash balance looking in the bank and are you getting paid on time? I’ve written about this before, but all the major accounting platforms offer AI enabled invoice chasing tools and we have plenty of content on the Office of the Small Business Commissioner website on steps you can take to get money moving. Could August offer time to review the payment terms in your contracts in light of new legislation being introduced that will move the UK to maximum 60-day payment terms. Your clients could get ahead by paying to these terms now.
Support
Consider your support network. Is it the right time to set up a board for the company, join a peer group, seek trusted advice, or access local or national funding and business support? There is much on offer and useful places to start are the Business Growth Service, your local Growth Hub or Chamber, and like-minded networks such as Federation of Small Businesses, Business Leader, Family Business UK, IPSE or Enterprise Nation.
Make the most of the quiet month in the services sector to ready the business for an active and profitable final few months of 2026.
Other content by Emma Jones:
- Chasing late payments? How the Office of the Small Business Commissioner can help
- Focus on the Fair Payment Code and celebrating firms that pay on time
- Top tips to contract well and get paid on time
- Three things to expect from the Office of the Small Business Commissioner in 2026
- Not getting paid on time? Call the Late Payments Line
- SME Safaris make payment and policy connections
- Time to pay – new rules to tackle late payment
- Accountants and bookkeepers can help with prompt payment – here’s where to find them
- What is the regulation holding you back?