An award-winning team of accountants is encouraging businesses to review their finances now to help them have a successful 2026.
Many Northamptonshire businesses are working on plans for growth, investment and staffing for the coming year but Rushden-based Elsby & Co say firms often overlook the importance of financial preparation.
Elsby & Co Managing Director Claire Emery said: “Starting the year with a clear understanding of your finances is one of the most effective ways to reduce risk and make informed decisions.
“Whether it’s cashflow, tax planning, or budgeting, taking the time to review your finances early can save businesses significant stress and cost later in the year.”
Elsby & Co’s experts recommend businesses review payment terms, outstanding invoices, and working capital requirements as examining cashflow can help businesses address any gaps before they become urgent.
They also encourage businesses to regularly review their pricing and profitability and can help them to create a budget and a forecast for the forthcoming year so firms can evaluate growth opportunities and make strategic decisions.
Businesses planning expansion, asset purchases or recruitment in 2026 are urged to review funding options and workforce costs as ensuring payroll, pensions, and other staff-related obligations are efficient and compliant protects the business and its employees.
Elsby & Co also advises firms to review accounting systems, insurance coverage, regulatory compliance, and overall risk exposure.
As tax rules and allowances often change year to year, Elsby & Co also recommends its clients review corporation tax, capital allowances and, where relevant, research and development reliefs.
Claire said: “Planning ahead allows businesses to make the most of available reliefs. It also gives owners peace of mind, knowing that their affairs are in order well before deadlines approach.
“At the beginning of March, the Government will unveil its Spring Statement. It isn’t expected to introduce major changes to tax or spending, but it’s likely to show how the UK’s economic conditions are evolving and may provide clues for the Government’s priorities for the next Budget. That’s why this is a good time of year for businesses to review their finances and start planning ahead.
“Once businesses have completed their budgets and planning, set key performance indicators and created their four-week and 12-week goals, they should then review their actuals against their budget and be held accountable for their targets.
“Businesses often neglect the reviewing process because this ongoing work does take up a lot of time but it’s hugely important. Our Business Hub can support clients with this vital work and we also offer a Virtual Finance Director service to support growing businesses which don’t have their own dedicated finance director.
“We want all Northamptonshire businesses to feel confident about their finances as they move into 2026 and even a simple review can uncover opportunities and prevent problems before they arise.”
Elsby & Co offers Power Hour consultations for individuals or firms requiring either a one-off consultation or ongoing support.
Companies which want to book a Power Hour with the Elsby team, or who want to find out more about its services, can email help@elsbyandco.co.uk or call 0330 053 9189.