2016-12-09 00:00:00BudgetingEnglishPlanning and budgeting properly can allow you to take a guilt-free vacation, easing your financial burden.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/small-business-owner-drives-rental-car-on-vacation.jpgBudget for Your Vacation Time

Budget for Your Vacation Time

0 min read

As a small business owner, wanting to take a vacation comes naturally, however, requires different planning and budgeting than for a regular employee. For instance, you may not have any employees, which could place a burden on your finances since you are the only one doing the work. If your business has a slow time, such as in the summer or around the holidays, this is an ideal time for your vacation.

Preparing your clients in advance is a necessity. If you have employees, train them to handle the tasks in your absence. This way the normal day to day functions of your job remain constant during your absence and nothing needs to be put on hold.

You can also fill up your schedule prior to your vacation. Although this might mean long hours temporarily, you reap the benefits from increased invoice payments that roll in while you are on leave. Another strategy is to set aside part of your earnings during the year.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

Vacation and Holiday Policies by Province

As an employer, you are obligated to give your employees vacation time.…

Read more

Managing Business Operations While You're on Vacation

Every so often, it’s important to take a vacation to rest and…

Read more

Should You Give Employees Unlimited Time Off?

Everyone benefits from a vacation and encouraging, or even requiring, your employees…

Read more