Top tips to help your small business thrive in 2025
As 2024 winds down, it’s time to start looking ahead to 2025. But if you’re wondering where to begin, don’t worry—you’re not alone. Setting clear, achievable goals for your business can make all the difference. These goals act as your roadmap, helping you stay on track and grow your business in the direction you want.
Here are UTP’s top five tips to make 2025 your best year yet.
1. Reflect on 2024 and understand your business
Before diving into 2025 planning, take a moment to review the past year. What worked? What didn’t? A good starting point is your financial statements. Analyse your profit, cash flow, and operating expenses. Pinpoint the costs that caused or came close to causing you problems. It’s important you know where the risks lie in case costs increase in the following year. This insight will help you make informed decisions for the year ahead.
Success looks different for everyone. Maybe it’s growing your revenue, expanding your customer base, or opening a new premises. Whatever it is, identify one or two key focus areas for 2025. Be realistic though, they must be manageable. If you set KPIs last year, now’s the time to evaluate them. What can you refine or double down on for the new year?
2. Carry out market research
The business world is constantly evolving, and staying informed about industry trends is critical. However, understanding what your target audience wants and needs can give you a competitive edge.
Good business starts with knowing your customers and what they expect from a product or service like yours. There are some quick and free ways to gather information, like making sure to read all the comments on your social media and review sights. The negative reviews may contain some valuable information for improvements.
If you have an email mailing list, you can use Google Forms to create a free survey page to ask your customers about their thoughts in a more private way. Choose four or five questions that are relevant to where you think you can improve or grow.
There is no substitute for simply talking to your customers. As a business owner you can learn a lot from a casual conversation with your regular customers about their buying habits – do they drop in on the way to work, or lunch time or after work? For example, if you get a lot of morning custom in your café, you could think about a breakfast deal for office workers.
Take a close look at your competitors. What did they do well last year? Could any of their strategies work for your business? This research will not only help you stay ahead of the curve but also uncover new opportunities and spot potential challenges.
3. Strengthen your financial plan
A solid financial plan is the backbone of any thriving business. Go beyond just setting a budget. Create a detailed financial plan that includes:
- Balance sheets
- Cash flow forecasts
- Planned investments or spending
Many businesses plan three to five years ahead, but that doesn’t mean you shouldn’t focus on the immediate future. Map out how 2025 fits into your long-term goals. Break it down: What revenue targets are realistic? What costs can you trim? Can you include a marketing plan to grow your business? These details will help you stay focused and proactive throughout the year.
4. Embrace technology and innovation
2025 is shaping up to be a year where technology continues to redefine how businesses operate. From AI-driven customer service to automated marketing tools, there’s no shortage of ways to work smarter, not harder.
Evaluate your current tech stack. Are there tools that could save you time or improve efficiency? Even small changes—like updating your website or adopting a new accounting software—can have a big impact. According to Forbes, in 2025 customer experience will be the key differentiator between businesses. So, thinking about how technology can improve customer experience is a great way to stay ahead of your competitors.
5. Build stronger customer connections
Never underestimate the power of a loyal customer base. If you have a lot of happy regular customers think about how you can leverage that to your advantage. Use 2025 to strengthen relationships with your audience. This could mean improving your customer service, launching loyalty programs, or using personalised marketing to make your customers feel valued. Freshworks claims that 57% of consumers will increase their spending to a brand if they feel connected to it.
Leverage social media to engage directly with your audience. Show the human side of your business through behind-the-scenes content, stories, and live Q&A sessions. We all have a social platform we feel more comfortable with, so choose one or two you can use best. You don’t have to be on all the social platforms, just the ones that work for you and your customers. Authenticity resonates, and when your customers feel connected to your brand, they’re more likely to stick around.
6.Boost your business with UTP card machines
A big part of preparing for 2025 is making sure your business can keep up with customer expectations, and fast, secure payments are a must. At UTP, we provide a wide range of card machines tailored to meet your specific business needs. Whether you’re running a shop with one checkout or managing multiple points of sale, our countertop and portable devices are designed to make transactions seamless.
Our card machines accept all major credit and debit cards, including Visa, Mastercard, and American Express. They also accept contactless payments like Apple Pay and Google Pay. With payments processed in under two seconds, you can serve customers faster and reduce queue times. This is an important factor, as studies show shorter wait times can significantly enhance customer satisfaction.
Plus, we’re proud to offer some of the most competitive transaction rates on the market, saving our customers an average of 33%. For small businesses, every saving counts. These savings can be reinvested into what matters most—growing your business and delighting your customers.
Preparing for 2025 doesn’t have to feel overwhelming. By reflecting on the past, planning, and staying adaptable, you’ll set your business up for success. If you are looking at taking card payments or changing provider, contact us on 0330 99 99 300.