While a company’s year-end considerations are not a new blog topic for Goldleaf Surety (Surety Bonds & End of the Year Considerations-Part 1; Surety Bonds & End of the Year Considerations-Part 2; Surety-Oriented Considerations at Year-End; and Surety Program and Year End Considerations), it is a topic worth visiting this time of year. How a company deals with its year-end planning can have a significant impact on its bonding program moving forward.
For this reason, we feel it is important to consider these surety-oriented items and to weigh these considerations against your company’s other year-end considerations. Surety-oriented considerations should include:
- Consider upgrading your company’s year-end financial statements
- Build equity in your company
- Don’t over emphasize tax planning
- Check your personal credit score
- Improve the company’s working capital position
- Improve the company’s liquidity
- Obtain an increase on the company’s operating line of credit
- Do not undertake ownership changes without considering the surety implications
It is not only at year-end when companies may make decisions which will impact their financial statement and thereby impact their surety support. Anytime of the year when decisions arise which may impact a company’s financial statement, Goldleaf Surety’s experienced staff can provide the counsel that is needed to grow and improve a company’s surety support.