The construction industry has seen a return to growth and the future demand for qualified electricians is increasing according to research by Trade Skills 4 U.

In order to get your business prepped and running at high efficiency, take the time and effort to sort out your finances and necessary paperwork to take your business to the next level. Once you have everything organised, you can make your business management easy to run.

To get you started, here are four simple ways to manage your electrician business:

  1. Get your business finances organised – Ensure that your personal and your business finances are separated so you can easily manage your business spending. It’s critical to have a reliable cash flow so that you have the finances available to use to purchase any tools or supplies you need in order to complete your jobs. Financial products and tools to keep in mind should include a business credit card, available loans and overdraft protection. Business insurance is also important to protect your business against any unexpected events.
  • Prioritise your weekly schedule – Begin the week with a schedule to prioritise all the tasks or projects that need to be completed by the end of the week. Review the major priorities and allot enough time and resources to getting those items completed on time. Take the time to look at how your time is being spent and identify ways in which you can operate more efficiently.
  • Organise your paperwork – Paperwork is very time consuming. Although it’s critical to stay on top of incoming and outgoing paperwork, look for ways to streamline the way you process and store these documents. Do you need hard copies of the documents or can they be stored digitally? If they are to be stored in files, organise your files so that you can easily access the information when needed. For example, you can create files that contain important documents such as invoices, quotes, warranties, receipts, tax returns and insurance policies.
  • Public liability Insurance – Not only do you need to ensure that you have the correct type of protection, you will also want to make sure you are getting the balance between cover and cost. Compare pricing and coverage of your public liability policies with Public Liability Insurance Australia.

Public liability insurance is designed to protect you, your business, and your staff against compensation awarded for negligence for personal injury or property damage, as well as the costs of defending a claim.

It’s a good idea to get several quotes to compare the costs, as well as the level and types of cover offered by various companies. Public Liability Insurance Australia can offer you free, multiple quotes so you can compare policies without the need to ring around or visit numerous websites. You can get immediate coverage, with no tricky paperwork, and your policy documents are emailed to you instantly.

  • Extra help – It’s great owning your own business, but here are many tasks that need to get done and there’s only so much one person can do. Managing everything by yourself is not only overwhelming but can also become an issue when there’s too many things to be done and only so many hours in a day. Consider outsourcing extra help – possibly an office manager or someone to help with the accounting. This will help you to stay organised, get the important tasks done, and relieve some of the pressure of having to handle everything on your own.

These are some simple ways in which you can better manage your electrician business. By taking the time to organise your finances, prioritise your weekly tasks, organise your paperwork, identify and maintain suitable public liability insurance, and enlisting extra help, you can better manage your business and continue to grow your company!

Quotes for insurance can be obtained from a range of sources. You can contact the insurance companies directly, however this generally involves a lot of running around if you want to compare quotes from a variety of insurers. A better option for many business owners is to use an insurance broker or adviser who can obtain quotes on your behalf from a wide range of companies offering insurance.

Public Liability Insurance has access to a network of insurance companies and can quickly provide you many policy options to choose from to secure the most suitable insurance to your business. For additional information regarding the importance of insuring your business, please see https://www.publicliability-australia.com.au/.