October is a turning point in the year. The summer is behind us, the Christmas season hasn’t quite begun, and many businesses have a short window to pause and take stock. It’s also the perfect moment to review your budget.
Too often, business owners leave this until December or January. By then, time is tight, pressure is high, and opportunities to make meaningful changes may have passed. Reviewing your budget now means you can step into the new year prepared, not panicked.
Why October works so well
- You’ve got reliable data. Three quarters of trading gives you a clear picture of how the year has gone so far.
- There’s still time to adjust. If sales are behind target, costs are creeping up, or cashflow is stretched, you can act before year-end.
- Seasonal costs are on the horizon. From festive marketing to staff holiday pay, Q4 brings extra expenses. Planning now avoids last-minute shocks.
- You’ll start January with clarity. Instead of tackling problems in the new year, you’ll begin with a plan you trust.
What to look at in your review
- Cashflow – Are you collecting what’s owed on time? If not, it may be time to review your credit control process.
- Margins – Rising costs can eat into profit. Check whether you need to revisit pricing or negotiate with suppliers.
- Tax planning – October is a good point to review allowances and reliefs. Waiting until January may be too late to benefit.
- Growth plans – If 2026 involves expansion, investment or new hires, start mapping out the financial impact now.
- Budget vs actuals – Compare what you planned with what happened. This insight is invaluable for setting a stronger 2026 budget.
Why it pays to get ahead
Reviewing your budget now isn’t just good housekeeping – it’s a way to reduce stress, protect your cashflow, and make better business decisions. By the time the festive season arrives, you’ll know where you stand and what’s next, rather than scrambling under pressure.
How we can support you
At Kingston Burrowes, we help businesses take control of their numbers with clear, proactive advice. If you’d like support with cashflow, tax planning, or preparing a budget for the year ahead, our team is here to guide you. Together, we’ll make sure you head into 2026 with confidence.
In short: October is the right time to review, adjust, and plan. Do it now, and give yourself a smoother end to the year — and a stronger start to the next.
Photo by Mikhail Nilov: Pexels
