7 Simple Financial Adjustments to Grow Your Business in 2026
Running a successful business requires you to be smart with your finances. Inefficient processes and needless expenses can severely hamper your growth, stopping your company from achieving its true potential. Luckily, there are some simple, time-tested tips you can follow to improve the financial side of your business.
Beyond cutting costs and boosting revenue, small financial adjustments can create long-term stability and free up resources for growth initiatives. By taking a strategic approach to your finances, you can unlock opportunities and make 2026 your most profitable year yet. Below, we’ll walk you through seven financial adjustments you can make to boost growth this year, so keep on reading to learn what these adjustments are and how you can apply them to your own enterprise.
1. Purchase the Right Insurance Plan
In business, you should always expect the unexpected. This is why it’s essential to protect yourself financially against situations like natural disasters and customer lawsuits. Luckily, there’s a wide variety of business insurance policies out there that you can purchase to guard yourself against these eventualities.
Some common types of insurance include public liability insurance, professional indemnity insurance and workers’ compensation insurance. The right plan for you depends on the nature and size of your business, so do plenty of research before settling on an insurance policy for 2026.
2. Eliminate Silent Profit Leaks
You might think you’re running a steady ship, but it’s possible that there are profit leaks occurring throughout your company that you’re unaware of. Identifying and eliminating these sources of waste is key if you want to maximise growth.
Some common ways businesses waste money include failing to track the fuel of delivery vehicles, paying for unnecessary rent and keeping too much money in a low-interest account. These days, forgotten subscriptions to tools and platforms you’re no longer using are also an incredibly common leak. Find out where you’re needlessly spending money and eliminate these leaks.
3. Take Demand Into Account When Setting Price
How to set prices is a question that all businesses face, but that few get right. Obviously, you should take into account your costs when setting your price, as you don’t want to sell for less than you spend on each item.
However, your pricing should not be purely cost-based. Demand-based pricing, which involves setting prices based on how much customers actually value your goods or services, is key if you want to find the sweet spot between selling to a large number of people and maximising your margin per sale. This new year, set a number for how much your audience thinks your products are worth, and you’ll have a much easier time setting prices.
4. Automate Payments and Invoicing
Inefficient payments and invoicing hold many businesses back. Human error can sometimes lead to mistakes when writing and issuing invoices, for instance, which can either lead to lost income or trust issues with your customers. Also, falling behind on payments can sometimes land you in hot water either with your suppliers or with the law.
To eliminate inefficiencies, try automating your payments and invoicing. There are a number of tools you can use to do this, including Stripe, Xero and QuickBooks. Many of these tools also offer other features like the ability to generate payment links to easily send payments internationally, so make sure to define your needs before you commit to a particular tool.
5. Invest a Set Percentage of Earnings Back Into the Business
Many business owners aren’t sure how much money to put back into their business, and how much to take out. Most experts recommend that you define a percentage of your revenue or profits for reinvestment.
If you’re managing a small business, you should probably put 20%-25% of profits back into the company, although this number will obviously vary depending on your situation. If you’re a bit bigger, you can probably get away with reinvesting a smaller percentage. What’s important is that you define a percentage beforehand.
6. Re-Negotiate Contracts Where Possible
The new year is the perfect time to review your contracts and find opportunities to renegotiate some of them. While this obviously isn’t always possible, there are some cases where you might be able to get a better deal.
One of these scenarios is if you’ve grown as a business and are purchasing a larger quantity from your supplier: you’ll likely be able to use your larger order volume as leverage to get a lower price per unit. Another situation where you’ll probably be able to renegotiate is if you’re in the position of the seller, and you’ve improved your product offering over what it was when you initially signed the contract. Keep looking for opportunities to keep costs down or increase profits, and you’ll be sure to be financially healthy in 2026.
7. Strengthen Your Hiring and HR Policies
Employee wages are a big part of your outflow, so it’s crucial to get recruitment and HR exactly right. Start by ensuring that you’re hiring the right people to begin with: a poor hire can lead to tens or even hundreds of thousands of dollars wasted. Create a formal hiring process to ensure that, more often than not, you’re able to make the right decisions.
Once you’ve hired your employees, you might be tempted to save money by offering low salaries. Don’t do this. Keeping your employees happy and motivated is key to their producing quality work, and among the main ways of doing this is paying them a fair wage.
Key Takeaways
The business environment is tougher than it’s ever been. This means that there’s no room for inefficiency, especially when it comes to finances. It’s absolutely crucial to ensure that you’re making and saving every penny you can. In this article, we’ve covered seven simple financial adjustments you can make to not only survive, but thrive. Shore up your finances this 2026, and you’ll be sure to grow more quickly than you could’ve imagined.
