New Year’s Resolutions: Setting Your Business Up for Success in 2025

By Sarah Bush

As we step into the new year, it’s the perfect time to reflect, reset, and plan for the road ahead.

Just like your new gym membership, businesses can really thrive from thoughtful goal-setting and disciplined habits. Recent changes in economic policies and compliance requirements make it even more crucial for medium-sized businesses to adapt and thrive

Here are a few resolutions to consider for your business, from the lens of a CFO:

1. Get Into Better Habits

Great businesses are built on consistent, productive habits. With the ATO increasing its focus on compliance and tax governance for medium-sized businesses, now is the perfect time to review and refine operational routines:

  • Are you regularly reviewing financial statements and performance metrics?  Be purposeful with what you are measuring and lock in those key dates with your CFO & team. Don’t just wing it.
  • Do you have systems in place to track progress toward key goals?
  • Are you dedicating time for strategic planning? Leverage advisory services to stay ahead of regulatory changes.

Establishing disciplined routines based on accurate data can position your business for long-term success.

Recommendation:
Schedule a meeting with your CFO team this month to undertake a financial review process and implement improvements.

2. Master Cashflow Management

Cashflow remains the lifeblood of any business. With rising interest rates, inflationary pressures, and the introduction of Payday Super on 1 July 2026 in Australia, proactive cashflow management is critical:

  • Reassess your accounts receivable and payable terms. Are there opportunities to shorten payment cycles or renegotiate terms with vendors?
  • Review your cashflow forecast to align with updated economic forecasts and your upcoming plans and contingencies.
  • Plan for the impact of Payday Super, which requires superannuation contributions to be paid at the same time as wages, potentially tightening cashflow. Ensure payroll systems are updated and consider adjusting cash reserves to manage this change.
  • Consider setting up a buffer or emergency fund for unexpected expenses—because a little foresight goes a long way.

Recommendation:
Review your cashflow forecast this quarter and develop a strategy to address the financial impact of Payday Super.

3. Strategically Plan for Growth

With a fresh calendar comes the opportunity to think big about where you want your business to go, dream a little – but plan a lot:

  • What are your key sales objectives for the year? Are there new regions or markets worth exploring?
  • Is your team adequately resourced to meet your goals, or is it time to invest in additional staffing or training?
  • What technology, tools, or partnerships could streamline your operations or open new doors?

Growth isn’t just about getting bigger; it’s also about working smarter. Taking the time to map out these objectives early in the year ensures that everyone in your organisation is aligned and focused.

4. Invest in Professional Development

Your team can be your secret weapon, sharpen it. Upskilling your team could be the key to staying ahead:

  • Upskill your team through training programs or certifications
  • Seek out mentors or advisors who can bring fresh perspectives to your strategy.
  • Encourage a culture of learning and innovation within your organisation.

Recommendation:
Allocate part of your budget to professional development programs and set quarterly targets for employee training.

5. Leverage Technology for Efficiency

In today’s fast-paced environment, technology is no longer optional. The ATO’s push towards e-invoicing and digital record-keeping highlights the need for modern systems:

  • Automate repetitive tasks using cloud accounting software to improve efficiency and compliance.
  • Use data analytics to gain real-time insights into your business performance and market trends.
  • Implement cybersecurity measures to protect sensitive data, aligned with recent ASIC guidelines.

Recommendation:
Conduct a technology audit within the next two months to identify systems that can be automated or upgraded for better efficiency.

Resolutions don’t work unless you do.

The key is to focus on a few impactful changes, track progress regularly, and celebrate milestones along the way. Australian businesses that prioritise clarity, discipline, and foresight are best positioned to navigate 2025 successfully.

What are your business resolutions for 2025? Start the conversation with your team today and set the course for a prosperous year ahead.