Please note: Our office will be closed between 23 Dec and 6 Jan. We wish you and your loved ones safe travels, a blessed Christmas and a happy 2022!
After the festive season, most businesses have a clearer view of the previous year’s performance. Sales trends, expenses, cash flow pressures, and growth opportunities are now clearly visible in your reports, ready to inform meaningful financial planning.
It is also the month before many tax and compliance pressures pile up. Ordering your finances early provides the opportunity to optimise rather than rush.
From a behavioural perspective, January is when people, including business owners, are most open to change. It is a time to review, reset, and prioritise. In our individual capacity, we plan to lose weight, go on trips, and develop our skills. Businesses also deserve New Year’s resolutions to get in better shape, go places, and improve.
Check your numbers from last year. Look at revenue, expenses, profit margins, and cash flow month by month. What worked, and where did money bleed out? This honest snapshot is the runway for better decisions.
Even a profitable business can run into trouble if cash flow isn’t managed well. Make sure your income matches up with your expenses. If you spot any gaps, fix them by managing debtors, changing payment terms, or timing expenses more effectively.
Financial goals should always be tax-aware. Whether you want to grow, reinvest, or pay yourself, planning ahead can help avoid extra tax bills later. Early strategising also gives you time to adjust your setup to get in line with SARS rules.
Budgets that live in spreadsheets but not in the real world are useless. Start this year by refining your budget to reflect actual costs, realistic income projections, and upcoming obligations. Include buffers for those unexpected expenses that will always pop up. A flexible, well-thought-out budget is to a business what Google Maps is to any modern traveller.
Vague goals like “increase turnover” rarely drive action. Replace them with SMART goals: clear objectives that are specific, measurable, achievable, relevant, and time-bound, allowing you to track progress, follow through, and adapt when needed.
Example: “Increase monthly cash flow by reducing outstanding debtors to under 30 days within the next six months.”
If bookkeeping, reporting, or compliance felt stressful last year, now is the time to change. Strong financial systems save time, reduce risk, and support better decision-making.
This could mean improving processes, changing software, or hiring professionals to help you stay sane and on top of things.
At Huysamen Westraad, we work closely with small businesses to turn blurry figures into practical plans that will boost your business. If you need support with bookkeeping, budgeting, cash flow management, tax planning, or long-term financial strategy, our expert team can help you make informed decisions to support sustainable growth in 2026 and beyond.
Contact us, and let’s set up your business for financial success in the year ahead. Final takeaway: Businesses that review and refine their financial goals early are better positioned to manage risk, seize opportunities, stay compliant, and grow well. That is our New Year’s wish for your business.
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