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Annual Reports: Not Just for Large Operations

(March 2006) posted on Thu Mar 16, 2006

Reviewing the past year in-depth is an exercise in company ownership and management.

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By Marty McGhie

March is a busy time of the year for corporate business. Taxes
have to be filed, annual corporate fees are renewed, and so on.
Also during March, many publicly held companies issue their
annual reports. And while the latter are often perceived as being
geared only to public or very large companies, the fact is that all
businesses"?small as well as large"?can benefit from generating
an annual report.

Reviewing your past business year in-depth, and then writing
about it is an excellent exercise for your company's ownership
and management. In addition, your annual report becomes an
interesting read for your employees and followers of your business
"?key suppliers, bankers, attorneys, friends, relatives, etc.
Regardless of who reads
your annual report, the process
itself is one of the most
valuable things you can do
to help identify where you
stand as a business.