A consultant’s guide to profiting from this financial year

The new financial year presents a chance for businesses to reflect on the past 12 months, celebrating successes, thanking teams for their work, and assessing what could be done differently moving forward. Eman Al-Hillawi, CEO of Entec Si, explains how businesses can make the most of the opportunity.

A new financial year offers a fresh start with a new budget. It’s a time when organisations often launch new products and services or change existing ones. To do this successfully, businesses must go back to their strategy, double check it lines up with new goals moving forward and be open to making changes in order to remain competitive.

With rises in National Insurance, minimum and living wages, many businesses are facing financial pressures right now; and with 99.2% of all businesses in the UK being classified as small, with fewer than 49 employees, it’s clear where the pain points are. For small businesses, sometimes minimal rises can be devastating, putting a stop to some projects or triggering redundancies. Other factors, such as Trump’s changes to tariffs, are compounding economic uncertainty, impacting the way we trade internationally and increasing costs, adding further pressure to the bottom line.

The world, and influences on our society, are constantly changing and therefore businesses should remain agile too. Maintaining awareness of what’s going on nationally and internationally, understanding the impacts, and planning accordingly is key to overcoming economic hurdles if and when they arise. In times of challenge, the businesses that survive are the ones that find a way to adapt. Due to external factors, such as unforeseen delays or cost increases, businesses sometimes don’t deliver exactly what they set out at the beginning of the year, so flexibility is key.

This doesn’t negate the importance of in-depth planning, however, and being aware of important dates and stages throughout the financial year is essential for preparing accordingly. The Autumn Budget and Spring Statement are two key markers to watch out for, as well as the Spending Review on 11 June this year, where the government will lay out its spending plans and key public sector reforms.

Local Government Reorganisation (LGR), entailing the restructuring of local councils and the advancement of the national devolution agenda, is another development to monitor in the coming months, with proposals due to be submitted in November 2025. Knowing key dates means businesses won’t be caught off guard by upcoming changes and can plan accordingly.

From a marketing perspective, there are certain days and months in the calendar that can be used advantageously. Consumer events and awareness days or months are good opportunities for selling, advertising or growing networks. Being informed is vital and using intelligence from your surroundings will help businesses to build a picture of what’s coming, pre-empt and prepare for potential disruptions, as well as capitalise on opportunities, maximising year-round success.

Self-reflection is essential for businesses throughout the year as it enables organisations to recognise pinch points, highlight what’s working, and where there’s room for improvement. Times of heightened financial pressure prompt businesses to self-reflect, considering internal efficiencies, as well as potential new products and services. This is where change projects come in.

In the public sector, where the focus is on streamlining and efficiency, implementing tools to facilitate these goals is key. When embarking on a change project, exploring how to harness technology is essential, to improve and streamline services through AI, data analytics, and machine learning. Technology is a huge catalyst for change and developments move fast, so organisations must focus on this area in order to stay competitive.

A successful change project isn’t just about implementing new technology, however, and consideration must be shown for the people who are impacted by the changes. By using new technology to carry out more day-to-day tasks, leaders can focus on progressing existing staff to a higher level, helping to streamline business operations, upskill the workforce and truly harness the benefits technology offers.

A strong business case is essential for any change project, but when times are challenging, it’s all the more important to demonstrate return on investment through a watertight business case to help support the need for change. When organisations face financial crisis, it may seem logical to make cuts to staff contracts and service offerings. However, with the help of a strong business case, organisations could take a different approach, by reallocating investment into streamlining operations and boosting marketing efforts to reach more audiences and increase the kind of products on offer. Diverting resources to the right areas and cutting out discretionary spending could be a wiser way to overcome challenging times.

With the current economic landscape feeling turbulent, businesses may be experiencing uncertainty about the future. Remaining flexible, adaptable and self-aware, and investing in thorough planning and preparation all year round, will go a long way to ensuring businesses remain competitive and have a successful financial year.

Eman Al-Hillawi is CEO of business change consultancy of Entec Si.