Running a small business can feel like juggling endless priorities, but taking time to set clear goals is essential if you want your business to grow and remain sustainable. Here are five goals that every owner should consider.

1. Strengthen cash flow management
Cash is the lifeblood of any business. Aim to forecast your cash flow regularly, monitor debtor days, and build a buffer for unexpected costs. Even profitable businesses can run into trouble if they neglect cash flow.

2. Build customer loyalty
Repeat customers cost less to retain than new ones do to acquire. Set a goal to improve customer service, gather feedback, and introduce loyalty or referral schemes. Strong relationships are a foundation for long-term stability.

3. Embrace digital tools
From accounting software to customer management systems, technology can save time and cut errors. Make it a goal to identify areas of your business that could benefit from automation or more efficient systems.

4. Focus on compliance and risk management
Keeping up with tax, employment, and regulatory responsibilities avoids costly penalties. Set processes for filing returns on time, maintaining accurate records, and regularly reviewing insurance and legal protections.

5. Invest in yourself and your team
Your skills and wellbeing directly influence your business. Set goals around training, mentoring, or simply creating space to recharge. Encourage team development too,  motivated employees often generate new ideas and efficiencies.

By working towards these five goals, small business owners can balance immediate demands with longer-term progress. The key is to revisit and adjust them regularly, so they remain relevant as your business evolves.

During the State Visit by President Trump, the UK secured a record-breaking £150 billion of inward investment from US firms. The package is intended to boost jobs, support growth, and advance the UK’s key industrial sectors, especially life sciences, advanced manufacturing, clean energy, biotech, AI and other future-facing industries under the UK’s Modern Industrial Strategy.

Key components of the deal

Here are some of the flagship commitments:

• Blackstone pledged around £100 billion over the next decade into the UK.
• Prologis will invest £3.9 billion, including use in the Cambridge Biomedical Campus and upgrading Daventry Rail Freight Terminal.
• Palantir agreed to invest up to £1.5 billion to help make the UK a defence innovation leader and create up to 350 jobs.
• Amentum will invest £150 million, creating over 3,000 jobs across areas like Glasgow, the Midlands and Warrington.
• Boeing committed to converting two 737 aircraft in Birmingham for the USAF, bringing about 150 high-skilled jobs.
• STAX, a US engineering firm, will commit around £37 million to expand UK operations, especially in emissions-reducing technology at ports.

Where the jobs and benefits are headed

The investment is forecast to create more than 7,600 high-quality jobs throughout the UK, covering not just London and the South East, but also Belfast, Glasgow, the Midlands and the North East. It includes major commitments in research and development and support for start-ups, particularly in biotech, AI and clean energy sectors.

Why it matters

This is the biggest commercial investment package ever secured during a UK state visit. It signals confidence from US firms in the UK’s economic strategy and global competitiveness. For business, tax, infrastructure, jobs, and innovation policy, it gives strong backing to the government’s plans.

For many business owners, a vehicle is an essential tool. Whether it is for visiting clients, delivering goods, or simply keeping things moving, choosing how to finance a vehicle can have a big impact on cash flow and tax planning. There are several routes to consider, each with its own advantages.

Buying outright

The simplest option is to purchase the vehicle in full. This means your business owns it from day one. Buying outright avoids ongoing finance costs, but it does tie up capital. The tax advantage is that you may be able to claim capital allowances on the cost, reducing taxable profits. Cars with low CO₂ emissions attract more generous allowances, while commercial vehicles such as vans can often qualify for the full Annual Investment Allowance.

Hire purchase

Hire purchase spreads the cost of the vehicle over a fixed term. You make monthly instalments and become the legal owner once the final payment is made. Interest will be payable, but this option gives certainty over repayments and allows you to claim capital allowances on the vehicle as if you had bought it outright.

Finance lease

With a finance lease, your business pays to use the vehicle but never actually owns it. Instead, you may be able to extend the lease at a reduced cost or sell the vehicle on behalf of the finance company and keep part of the sale proceeds. The rentals are tax deductible, which helps to reduce taxable profits.

Contract hire

Contract hire is often called leasing. You agree to use the vehicle for a set period and mileage, paying fixed monthly rentals. At the end of the agreement, the vehicle is returned. This option keeps vehicles off your balance sheet and helps with budgeting, as servicing and maintenance can be included. The rentals are usually deductible for Corporation Tax, but restrictions apply if the car has high emissions.

Personal contract purchase (PCP)

Some directors use PCP agreements through the company. These combine monthly payments with the option to buy the vehicle at the end for a lump sum. The tax treatment is similar to hire purchase if the business owns the agreement, but careful thought is needed if it is held personally.

Final thought

There is no one best option. The right choice depends on cash flow, tax position, and how long you intend to keep the vehicle. Speaking with your accountant before committing can ensure the vehicle is financed in the most efficient way for your business.

Every business has a duty to pay tax, whether that is Corporation Tax, VAT, PAYE, or personal tax liabilities for the owners. While these payments are predictable, many businesses still find themselves short of cash when the due dates arrive. One way to reduce this risk is to create a cash deposit reserve specifically set aside to cover past and current tax liabilities.

The idea is simple. Each time profits are made, or taxable income is earned, a proportion of cash is transferred into a separate bank account. This money is not touched for day-to-day trading but held back until HMRC requires payment. By treating tax as an ongoing expense rather than an occasional shock, businesses can avoid last-minute scrambles to find funds.

There are several benefits. First, a reserve provides peace of mind. Business owners know that when the tax bill lands, the money is ready and waiting. This reduces stress and allows management to focus on running and growing the business.

Second, a tax reserve supports cash flow planning. By separating tax money from working capital, it becomes clearer how much is genuinely available for wages, suppliers, or investment. Mixing tax liabilities with general funds often leads to overspending and unnecessary borrowing.

Third, building up a reserve shows financial discipline. It reassures banks, investors, and other stakeholders that the business takes its responsibilities seriously and manages risk sensibly.

Even small, regular transfers can make a big difference. By keeping tax reserves in a deposit account, businesses may also earn some interest before payments fall due.

In short, creating a tax reserve is a practical and prudent step. It reduces surprises, improves cash flow visibility and ensures that tax obligations are met without disrupting business operations.

Working capital is a simple but powerful measure of a business’s financial health. It is the difference between current assets and current liabilities. In other words, it shows what is left when a business’s short-term debts are taken away from its short-term resources such as cash, stock and money owed by customers.

If the result is positive, the business has money available to cover day-to-day operations. If it is negative, the business may struggle to meet upcoming bills or need to rely on borrowing.

Why is working capital so important? First, it gives a clear picture of liquidity. A profitable business can still fail if it runs out of cash to pay suppliers, wages, or rent. By keeping a close eye on working capital, owners can see whether they have enough resources to keep the business running smoothly.

Second, working capital affects flexibility. A business with strong working capital can take opportunities such as bulk-buying stock at a discount or investing in new projects. A business with weak working capital may be forced to delay decisions or turn down growth opportunities because it cannot afford the risk.

Third, lenders and investors often look at working capital when deciding whether to support a business. A healthy balance suggests stability and good management, while a weak position may raise concerns.

Improving working capital does not always mean cutting costs. It can involve speeding up customer payments, negotiating longer terms with suppliers, or keeping a closer watch on stock levels. Even small changes can make a big difference to cash flow.

In short, working capital is about making sure a business can meet today’s needs while staying ready for tomorrow’s opportunities.

Running a small business comes with plenty to juggle, and while insurance might not be the most thrilling task, it is absolutely essential. There is one policy you are legally required to have: employers' liability insurance (EL). If you employ anyone, EL covers legal and compensation costs if someone falls ill or gets injured at work. Missing it could cost you a hefty £2,500 per day in penalties.

Beyond what is required, there are a number of other smart protections to think about:

• Public liability insurance (PL) protects against claims from members of the public, for instance, if someone has an accident at your premises or your team accidentally damages someone's property. Many clients or suppliers will require proof of this cover before doing business.
• Contents and portable equipment insurance covers your essential business gear, such as furniture on-site or gadgets you take out (laptops, tablets, smartphones), in case of theft, fire, flood, loss, or damage.
• Professional indemnity insurance (PI) is vital if you offer expertise or advice. It covers you if a client suffers a financial loss because of something you did or did not do. Many clients expect this sort of protection before hiring you.
• Directors’ and officers’ liability (D&O) protects company leaders personally if there is a claim against them, such as breaches of health and safety laws, pension mismanagement, or financial errors.
• Cyber liability insurance is increasingly important in the digital world. It helps cover the costs of data breaches or cyber-attacks, including claims, compensation, and even IT or legal support.

From 13 October 2025, access to Companies House WebFiling will require GOV.UK One Login. This replaces the older Government Gateway sign-in and is part of the wider move towards a single, more secure login across government services.

When you next log into WebFiling after that date, you will be prompted to connect your existing account to GOV.UK One Login. Without doing so, you will not be able to file company documents. This shift follows the earlier transition of the “Find and update company information” service in 2024.

The new login system provides additional benefits. It brings stronger security through two-factor authentication, reducing the risk of fraud and misuse. It also allows you to use one set of login details for multiple government services, cutting down on the need to manage different usernames and passwords. Over time, GOV.UK One Login will replace all other government login systems.

To prepare for the change, users should check that their WebFiling email address is up to date and accessible. If they also use the “Find and update company information” service, they should ensure both accounts use the same email address. It may be worth creating a GOV.UK One Login in advance using that same email. Companies House is also advising that users review and clean up their “My companies” list to remove any businesses they no longer file for.

Looking further ahead, identity verification becomes compulsory from 18 November 2025 for all new and existing directors and Persons with Significant Control. This can be completed voluntarily now via GOV.UK One Login or, alternatively, through an authorised agent.

In short, from mid-October WebFiling accounts must be connected to GOV.UK One Login. Preparing early will help avoid delays and ensure users are ready for the new identity checks that follow in November.

For many small business owners, finding and keeping good staff is one of the biggest headaches. Recruitment is costly, time-consuming and uncertain. That is why focusing on staff retention is one of the smartest moves you can make.

People stay where they feel valued. Pay matters, of course, but many small businesses cannot simply compete with bigger firms on salary. The good news is that today’s workforce values other things just as highly, such as flexibility, wellbeing and opportunities to grow.

Flexible working is top of the list. Offering staff the chance to adjust hours, work some days from home or fit work around family life can make your business stand out as an attractive employer. It costs very little to implement but makes a huge difference to loyalty and morale.

Wellbeing is another area where small firms can excel. Simple steps such as promoting regular breaks, encouraging a healthy work-life balance or creating a supportive team culture go a long way. Staff who feel cared for are more likely to give their best and stay longer.

Training is also key. Investing in low-cost learning opportunities, whether through online courses, mentoring, or in-house skill sharing, shows employees that you are committed to their development. People who see a future in your business are less likely to look elsewhere.

Remember, retaining staff is not just about avoiding the cost of hiring replacements, it is about protecting relationships with customers and maintaining business know-how. Every time you lose a team member, you also lose some of the experience and trust they have built.

At a time when skilled workers are in short supply, small businesses that look after their people will gain a real competitive edge. A little flexibility, support and encouragement can turn staff into long-term partners in your success.

Running a small business often feels like walking a financial tightrope. Cash can be flowing in nicely one month, only to dry up the next. With interest rates higher than they were for years and lenders tightening their checks, access to money has become a bigger challenge. That is why focusing on cash flow resilience is so important right now.

Cash flow is not just about survival; it is about giving your business room to grow. If you are waiting too long for customers to pay, your money is tied up when you need it most. A simple review of credit terms, clearer payment reminders, or offering small discounts for early settlement can make a real difference. On the other side, talking to suppliers about extending your payment period may also ease the pressure.

When it comes to funding, traditional bank loans are no longer the only option. Small firms are making use of alternative routes such as peer-to-peer lending, invoice financing, and short-term credit lines. These options can be quicker to arrange, but you need to check the costs carefully so that repayments do not become a burden.

One tip is to keep your financial information in good order. Banks and alternative lenders want to see clear, accurate figures before approving funds. Regular management accounts, cash flow forecasts, and evidence of good record keeping all build confidence. In practice, a well-presented finance pack can be the difference between a “yes” and a “no.”

The message is clear: do not wait until cash is tight to act. Regularly review your inflows and outflows and know what funding options are open to you. A resilient approach to cash flow can protect your business in tough times and put you in a strong position to seize opportunities when they come along.

In every market, businesses face competition. Some competitors may be larger, others may have deeper pockets, but gaining a competitive advantage is not always about size or spending power. It is about finding ways to stand out, deliver value, and build loyalty in ways that others cannot easily copy.

The starting point is understanding what your customers really want. Many businesses assume they know, but without asking directly, they risk focusing on the wrong things. Regular feedback, surveys, and conversations with clients can reveal needs that are not currently being met. Meeting those needs better than your rivals can quickly become a strong differentiator.

Another route to advantage is efficiency. Streamlining operations, adopting smarter technology, or cutting wasted time and cost can enable a business to deliver faster or at a lower price without reducing quality. Even modest savings can provide extra flexibility when pricing against competitors.

Brand and reputation also play a vital role. Trust is hard to win and easy to lose. Businesses that consistently keep promises, communicate clearly, and support their customers when problems arise often enjoy loyalty that competitors cannot buy. A strong reputation can be worth more than any marketing campaign.

Finally, innovation should not be overlooked. This does not always mean launching new products. It can mean packaging existing services differently, offering subscription or fixed-fee pricing, or providing added advice alongside the core offering. Small changes that make the customer’s life easier can be the difference between being a supplier and being a trusted partner.

Competitive advantage is rarely achieved through one big step. It comes from a series of consistent, customer-focused improvements that, taken together, make the business the obvious choice in a crowded market.