Have you got ambitions to grow your business in 2025? You’re not the only one. More than eight in ten UK small firms (81%) have plans to boost their growth prospects for 2025, according to a new poll of UK small businesses conducted by YouGov for Novuna Business Finance.
The research found that:
- 43% of small firms plan to increase sales in 2025;
- 21% have ideas for new product lines;
- 18% intend to advertise online;
- 16% plan to spend more on marketing;
- 12% have plans to export;
- 12% want to invest more in their digital capabilities.
Every business has its own goals and growth strategies. Don’t know where to begin? Don’t worry, we’ve got you. Here are five key steps that will help you hit your targets in 2025.
Step one: review your business plan
Every business, no matter how small, needs a plan. A business plan is not set in stone, however - it should evolve along with your business. So it’s important to review and update your plan every year.
This is a great job to do every January. Start by considering what went well in 2024 and what missed the mark. Maybe your objectives are no longer fit for purpose? Now think about where you want to be this time next year and what it will take to get there. The easiest way to create a robust business plan with professional forecasting is to use a digital tool like Venture. Get 10% off as a Donut user.
Step two: raise your marketing game
Surveys show that marketing is something that many small business owners struggle with. It’s hardly surprising - posting on social media, advertising online, sending marketing emails and optimising your own website can be challenging, both tactically and technically.
The good news is that we’ve got lots of advice and tips for business owners to help you get more out of your marketing and social media strategy. Got a specific question? Why not join the 3,000+ small business owners in our Facebook Small Business Collective and ask them for help - it’s a really friendly community. You could also sign up for a fully-funded digital marketing skills bootcamp from a training provider such as Fareport.
Step three: target new customers and markets
If growth is your goal, you’ll want to target new customers, by expanding your offer or selling further afield. Exporting can be a great next step for an established UK business. Our new guide to exporting, published in partnership with Equals Money, has all the information you’ll need to start selling overseas. Providers like Airwallex, Wise, MultiPass and Currensea all offer financial solutions for business that trade internationally.
Another way to bring in new business is to sell more online. Why not make 2025 the year that you open an ecommerce store with Shopify? You could also start selling via social media and join the many brands that have built a business by selling directly to their social media followers. A TikTok shop, for example, could turbo-charge your sales this year; or you could work with a social media influencer to reach a wider audience.
Step four: use apps to save time and money
Successful entrepreneurs spend more time working on their business (planning and selling) than they do working in it (doing paperwork and other chores). You can save valuable time on everyday tasks by using online tools, such as accounting apps, CRM and social media dashboards.
Choosing the right apps for your business is key - you don’t want to pay for more functionality than you need. These guides will help you find the best solution for your business at the right price:
- Top accounting software
- CRM systems for small businesses
- Apps for organising and planning
- Point of sale systems
- Best website builders
- Social media apps
AI could also be a time-saver. Read our guide to the ten ways that AI could help your small business. Finally, don’t miss our fantastic offers page - Donut readers can get big discounts on accounting apps, card readers, CRM and much more.
Step five: work with a business mentor
Whether your business is stuck in a rut or you are just starting out, a business mentor can give you a fresh perspective and help you identify new opportunities. A mentor could be an experienced business owner or a trusted adviser such as an accountant.
In fact, new research by Intuit Quickbooks has found that businesses that use accountants make more money than those that don’t, suggesting that professional advice can boost profits. The findings show that sole traders see an 8.9% uplift in revenue if they have an accountant and micro-businesses see a 7.9% increase.
Happy New Year!
We hope these steps help your business thrive in 2025. We’re planning lots more guides, blogs, start-up stories and podcasts in the coming year, so sign up to our newsletter to get all the latest small business advice delivered to your inbox every week.
And don’t forget to join the brilliant Donut Small Business Collective on Facebook where you can ask for help, share ideas and get support from small business owners like you.
Wishing you a very happy and prosperous New Year from everyone on the Donut team.