We’re in the final countdown towards Christmas – can you believe it?! And while most of your peers, friends, and family will be taking time off until the New Year, we know that lots of small business owners will still be working on the big day. In fact, surveys carried out in recent years acknowledge that over half (59%) of small business owner choose Christmas Day to get ahead on marketing, admin, and service delivery. Even more humorous is the proportion of self-employed individuals who use Christmas Day to file their self-assessment.
So – how can we create a better work/life balance, while also becoming match fit for the year ahead? In this blog, we need to review the impact of the recent budget, how this impacts the small business owner, and the preparation needed to give the New Year a positive start.
A summary of the budget changes
We know that you’ve been reading and watching these summaries, but here are the biggest changes as a result of the autumn budget:
- Business rates: Lower multipliers for retail, hospitality and leisure from April 2026, though some businesses may still see rate increases due to revaluations.
- Dividend tax rise: Higher dividend tax rates from April 2026, affecting small company directors who pay themselves via dividends.
- Wages increasing: National Living Wage rises in April 2026, increasing payroll costs for small employers.
- Tax thresholds frozen: Personal tax thresholds remain frozen, indirectly increasing tax pressure on individuals and business owners.
- Investment incentives: New 40% first-year capital allowance from Jan 2026 to support business investment.
With these things in mind, we’ve drawn up a short list of actions to take now. These include:
1. Review Last Year With Purpose
Start with a simple but honest review of your business performance:
- Financial targets: Did you hit your revenue and profit goals?
- Clients & sales: Which products or services performed best – and which performed poorly?
- Operations: What processes worked smoothly, and where were the bottlenecks?
These answers become your new set of priorities to tackle and resolve in 2026.
2. Set Clear, Measurable Goals
General ambitions like “grow sales” are hard to act on. Instead:
- Set SMART goals – Specific, Measurable, Achievable, Relevant, Time-bound.
- Example: “Increase online coaching revenue by 25% by Sept 2026.”
- Break each goal into quarterly milestones so you can track progress.
This makes checking in on goals less overwhelming and more regular.
3. Build a Simple Budget That Works
We’ve said it before and we’ll say it again – a budget doesn’t need to be complex, but it does need to be realistic:
- Review last year’s cash flow
- Forecast income and expenses
- Plan for savings
This doesn’t just help with finances – it also builds confidence in your forward plans.
4. Use Tools and Support to Stay Organised
Good organisation takes pressure off your future self:
- Digital systems: Move bookkeeping, invoicing and reporting online if you haven’t already. We can provide support with making these changes quickly and without impacting day-to-day operations
- Regular checkpoints: Schedule quarterly strategic reviews – not just at year-end.
- Delegate: Routine admin, customer communications, email management and project support can all be handed to someone else so you stay focused on growth.
In summary
While many of the changes can feel scary or overwhelming, a simple plan and the right support can make preparing for 2026 much easier. We offer support packages to suit your needs and budget, so if you’re a small business owner and struggling to get everything done before the New Year, complete our contact form or give us a call.