Your New‑Year Business Checklist: 10 Tasks to Tackle Now

A new year is a great moment to pause, reset and take practical steps that protect your business and create momentum.

Small adjustments now can prevent headaches later and set you up to make the most of growth opportunities.

Below is a simple checklist tailored for small businesses in Victoria.

When to use this checklist:

At the start of the financial year, calendar year or after a slow period.
After any major change: new staff, a new product, or a systems upgrade.
As an annual health check to keep things running smoothly.

1. Review your cashflow and budgets.

Update your cashflow forecast: Use realistic revenue and expense assumptions for the next 6–12 months. Identify any seasonal gaps and plan how you will cover shortfalls.
Check debtor and creditor positions: Chase overdue invoices, consider incentives for early payment and renegotiate payment terms with suppliers where needed.
Revisit pricing: Test whether your prices still cover costs and margin targets. Consider small, justified increases rather than across‑the‑board cuts.

2. Clean up your accounting and tax position.

Reconcile accounts: Ensure bank, payroll and merchant‑facility reconciliations are up to date. Fix any outstanding discrepancies before they compound.
Confirm BAS and lodgement dates: Check upcoming GST, payroll tax and other lodgements and ensure you have records ready.
Talk to your advisor: Book a brief catch‑up with your accountant to review tax planning opportunities and any changes to concessions or obligations affecting Victorian small businesses.

3. Check payroll and employment settings.

Audit payroll accuracy: Confirm award rates, overtime, allowances and superannuation calculations are correct.
Review staff classifications and contracts: Make sure contractor versus employee status is documented and right for the role. Update employment agreements and position descriptions where responsibilities changed.
Plan leave and rostering: Map out upcoming leave and high‑demand periods to avoid understaffing.

4. Test systems and backups.

Backup critical data: Verify backups are running, complete and recoverable. Test a restore of a sample file or database.
Review software subscriptions: Cancel unused tools and check for better integrated options that save time. Ensure your accounting, CRM and timekeeping systems sync where possible.
Check cybersecurity basics: Update passwords, enable multi‑factor authentication on critical accounts and confirm antivirus and patching are current.

5. Refresh compliance and risk checks.

Insurance review: Check your policies/insurances (public liability, professional indemnity, cyber, business interruption) and update sums insured to current replacement costs.
Health and safety: Review any WHS procedures and ensure staff are briefed on emergency plans.
Regulatory checks: Confirm licences and registrations are current and note any upcoming regulatory changes relevant to your industry.

6. Revisit your customer and marketing plan.

Review top customers: Identify who contributes most to revenue and prioritise account care. Consider client retention tactics or tailored offers.
Check your online presence: Update business hours, contact details and service pages. Refresh website content and check listings (Google, local directories).
Plan a simple marketing campaign: Lock in a calendar of three to six marketing activities for the next quarter, such as email updates, social posts or a local partnership.

7. Products, suppliers and stock.

Stock review: Clear slow‑moving stock and renegotiate supplier terms where possible. Consider just‑in‑time adjustments if cashflow is tight.
Supplier performance: Review key supplier reliability, cost and service. Have backup options for critical inputs.
Product profitability: Identify your most and least profitable services or products and consider packaging, bundling or focusing effort where margins are best.

8. People and culture.

Set team priorities: Share clear goals and key tasks for the next quarter so everyone understands priorities.
Training needs: Identify upskilling opportunities (systems, compliance or customer service) and schedule short sessions.
Check‑in meetings: Hold short one‑on‑ones to surface issues and retain staff engagement.

9. Legal and contracts.

Review contracts and terms: Make sure client and supplier contracts reflect current pricing, delivery expectations and liability limits.
Document intellectual property: If you have unique processes, branding or software, ensure IP ownership and confidentiality are protected.
Plan for disputes: Have a simple escalation path and keep correspondence and records that would be needed in the event of a claim.

10. Plan for growth and contingencies.

Set measurable goals: Define two or three practical targets for the next 6–12 months (revenue, new clients, efficiency gains).
Scenario planning: Test your plan against a downside scenario (drop in revenue, supply disruption) and confirm contingency steps.
Access to finance: Check your borrowing capacity and speak to a wealth partner before you need funds. Arranging pre‑approval lines can save vital time.

Small checks now will reduce the risk of unexpected problems later.

You do not need to complete every item in a day. Prioritise the few items that matter most to your business this quarter and build momentum from there.

If you’d like help with a small business health check, Aintree Group can review your operations and provide tailored advice to set you up for success in 2026.

Get in touch with our team today!

This is general advice only and has not been prepared with your situation and needs in mind. For individual and personalised advice, we highly recommend that you seek out proper professional advice from your accountant and business adviser.