Business in 2025 and onwards

There has been a lot going on over the last five years, all of which has and continues to affect the domestic and global economy. Add into the mix the trajectory of AI (artificial intelligence) development. Many businesses have closed their doors. Others have opened their doors, and many continue to either survive or thrive.

It’s no wonder that we look to the news, economists and others to tell us what will happen and, depending on our experience to date or our personalities, we choose to believe either the positive or the negative. All the noise around us can paralyse us into uncertainty, which is an effect in itself. These are our thoughts on doing business in 2025.

Focus on what you can control. There is a lot of information out there. Filter through the noise to consider what is relevant. If there are opportunities, take steps to explore them. For any threats, put together a contingency plan, and then keep moving forward with what you can control.

Surround yourself with advisors who will tell you what you need to hear, not what you want to hear. You need advisors around you who are thinking about your interests even when you may not be (case in point – see article by Arran Boote). Are they talking to you about how you are going with your business besides providing financials and taxation returns? Talk to your accountants and other advisors about what your goals are with your business and your life. Allow them the opportunity to use their expertise to help you. Sometimes, this may mean hard conversations. And sometimes, it may mean you need to invest more into obtaining timely ongoing advice.

Ensure you are getting regular and relevant information on your performance, cashflow, and strategy execution. It is impossible to run your business optimally without regular information. If you don’t have your financials up to date, invest in doing so. Many cost-effective options for bookkeepers and back-office functions are available now, depending on your specific circumstances. You need to either interpret this real-time information yourself or invest in an advisor to do so. Note that not all accountants are advisors who can assist you in driving your business forward.

Don’t ignore business strategy and execution. Many businesses consider this a discretionary cost at tough times. While cost cutting or control is essential, depending on your business, spending on strategy and executing this is the best thing you could do. It will allow you to focus your business relevant to the environment you are operating in. It will allow you to continue walking with confidence.

Keep walking. In our world, night is always followed by day, and darkness is followed by light (and vice versa). It’s a surety, and we need to be prepared for both. If you need to have a chat about any of the above, give me a call. If I can’t help, I promise I know someone who can.