How to approach the end of financial year with less stress

The day-to-day operations of a small business are already stressful enough without the added challenge of managing the end of financial year demands.

Finding all your income statements, receipts, bank details and all the other records needed to lodge your tax return can seem a daunting task. With so much to organise, it’s important to look after yourself to ensure dealing with these demands is manageable.

Here are five simple tips that you can use to look after your wellbeing and manage stress levels.

1. Prepare and keep records. Prepare for the end of financial year with this checklist for small business owners from business.gov.au and consider how your business can maintain the flow in cash flow.
2. Eat well and stay active. Staying active and eating well can help balance mood, release endorphins, decrease stress and improve focus and concentration. This will help your mental wellbeing over all, as well as assist your ability to get through the extra demands of the EOFY.
3. Sleep. Make sleep work for you by ensuring you receive the quality and quantity of sleep that helps your mental wellbeing and ability to perform and focus well.
4. Maintain relationships. Connecting at work and maintaining social connections is important to your mental wellbeing and ability to cope with challenges.
5. Cultivate mindfulness. Mindfulness is about being present in the moment. When you practice mindfulness you can reduce feelings of stress and build resilience to improve performance and productivity. Building resilience and productivity will help you cope with extra stress during this time.