With 2025 entering its final months, it is the perfect time to pause, reflect and take stock of how your business is performing and if you are on target to meet your business and financial goals.
The final quarter of the calendar year is an invaluable period for many businesses because of the important events such as Halloween, Diwali and Christmas.
Which is why it’s the perfect time to check your goals and ensure you have the ability to finish the year strongly and are on track to meet your targets.
At the same time, you might already be thinking ahead to 2026, with the new year not far away. You may be looking at setting fresh goals and preparing for what the new year may bring.
This is where having an experienced accountant can make all the difference. They can help you review where you stand now, plan strategically for what’s ahead, and ensure your finances are working in your favour.
The value of setting goals for yourself and your business
Setting goals gives your business a clear direction and something to strive for and measure your success against.
Whether you’re targeting revenue and profit growth, expanding your team, introducing new services or pursuing your expansion plans, your goals keep you motivated and focused.
As a business owner, you know it is fairly easy to set yourself and your company goals for the year but achieving them is easier said than done.
The business landscape can shift rapidly, and you need to be ready to adapt. Factors such as rising interest rates, inflation, tax changes, increased staffing or operational costs, and even growing competition can affect your progress.
That’s why it’s vital to make sure your goals are realistic and aligned with your broader business strategy and don’t put you at risk of short-term and long-term financial challenges.
An effective, well-balanced approach ensures your ambitions remain achievable while safeguarding your long-term success.
Why a strategy is crucial especially in this busy period of the year
The final quarter of the year is often a crucial time for many businesses that will look to seize the opportunity as consumers prepare to spend more across the holiday season. It’s your last window to push towards those end-of-year targets and set the tone for the year ahead.
The last three months are packed with opportunities from Halloween celebrations to Diwali festivities, and of course, the Christmas and New Year shopping rush, all of which boost consumer spending.
However, this year’s final quarter of the calendar year brings one of the most important Autumn Budgets in several years as the Government attempts to improve the UK’s economic climate and balance its books.
While we don’t yet know what Chancellor Rachel Reeves will reveal when the Budget is delivered on 26 November, any changes introduced could have immediate and longer-term financial effects on your business.
You need to be preparing effectively as your strategy should not only align with your existing goals but also include contingency plans to adapt to any financial implications brought on by the Budget.
Why you should be speaking with accountants
Working with an experienced accountant can make a huge difference if you’re on track or pushing hard to make ground.
Our team of expert accountants can help you review your current goals and strategies, identify opportunities for growth and set fresh, achievable targets for 2026.
Looking ahead, there are several important updates you’ll need to prepare for. Changes to National Minimum Wage (NMW), National Living Wage (NLW), and National Insurance (NI) rates are all expected next year.
Major changes are also coming if you’re self-employed, a sole trader or a landlord, with the introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment from April 2026.
If your annual turnover exceeds £50,000, you’ll need to comply with the new MTD rules. This means maintaining digital financial records and submitting quarterly returns to HMRC, marking a significant shift in how income is reported.
It’s important to be ready for these changes and that’s where we can help. Accountants play a crucial role in keeping your business compliant, efficient, and financially healthy.
Now is the ideal time to speak with our accountants to make sure you’re on target to hit your goals for 2025 and start planning for 2026.
For comprehensive financial advice, contact our team to see how we can help you and your business.