Â鶹ӰԺ

By Dr Marian Evans MBA CMgr FCMI SFHEA, Senior Lecturer in Entrepreneurship and Enterprise, Â鶹ӰԺ

The Chancellor has delivered his Budget. The headlines have been debated, the numbers picked apart and the winners and losers identified. But for small business owners, a more important question remains: what should they actually do now?

For businesses already dealing with rising costs, economic uncertainty and pressure to grow, the 2026 Autumn Budget brings a mixture of welcome support and new challenges.

From energy bills and business rates to workforce costs and investment opportunities, there are several announcements worth paying attention to.

Here are five things business owners should consider as they plan for the year ahead.

1. Prepare for rising workforce costs

Employers will need to prepare for increases to the National Minimum Wage and National Living Wage of 3.9% from April 2027, placing additional pressure on staffing budgets.

While higher wages are welcome news for employees, businesses will need to consider how they manage these increases without compromising growth.

Now is a good time to review workforce budgets, consider how rising costs might affect profitability and explore opportunities to improve productivity.

Workforce planning, employee retention and investment in skills will be more important than ever.

2. Check what financial relief is available

One of the biggest priorities in the Budget is easing the cost of doing business.

Eligible energy-intensive manufacturers could see electricity bills reduced by up to 25% from April 2027, while changes to business rates will provide some relief for the high street.

The Small Business Rate Relief threshold for qualifying retail, hospitality and leisure businesses in England will increase from £12,000 to £18,000, potentially removing 70,000 additional businesses from paying rates altogether.

For businesses facing tight margins, these savings could create much-needed breathing space and free up resources for future investment.

Business owners should check which measures apply to them and consider how any savings could support their longer-term plans.

3. Explore opportunities for investment and innovation

Looking beyond immediate costs, the Budget also signals a continued focus on business growth and innovation.

An additional £20.4 billion has been committed to the National Wealth Fund and British Business Bank, alongside measures to encourage entrepreneurship, investment and the adoption of new technologies.

For ambitious businesses, this could create opportunities to access finance, develop new products and explore new markets.

Now is a good opportunity to revisit business plans, identify areas for growth and consider where investment in technology and innovation could make the greatest difference.

4. Look out for new regional opportunities

Closer to home, one of the most significant announcements is the progress towards a devolution deal for Leicester, Leicestershire and Rutland.

The Government has confirmed that plans for a new Mayoral Strategic Authority are in their final stages, potentially bringing greater decision-making powers and investment to the region.

This could open up new opportunities for local businesses through improved infrastructure, skills development, regeneration and access to funding.

While the details and timescales are still to be confirmed, businesses should keep an eye on developments and consider how they might benefit from future regional investment and partnerships.

5. Invest in skills and plan for growth

While the Budget offers some financial relief, businesses will still need to navigate a challenging economic environment.

For business leaders, now is an opportunity to reassess financial plans, explore available support and consider how investing in people, technology and innovation could strengthen their business.

Developing the right skills and strategies to navigate these challenges is equally important.

Taking time to review business performance, identify opportunities for improvement and develop a clear plan for growth can help businesses respond to immediate pressures while building longer-term resilience.

Turning business challenges into opportunities

For SME leaders, finding time to focus on the longer-term development of their business can be difficult alongside day-to-day demands.

The government-backed Help to Grow: Management programme at Â鶹ӰԺ is designed to help SME leaders strengthen their management capabilities, improve business performance and develop a practical plan for growth.

Through expert-led learning, practical insights and peer networking, the programme gives business leaders the tools and confidence to make informed decisions and seize new opportunities.

Our next cohort starts in January 2027 and includes one-to-one mentoring with experienced business experts, giving participants the opportunity to discuss their own business challenges, receive tailored guidance and develop practical solutions they can apply directly to their organisation.

Discover how Help to Grow: Management at Â鶹ӰԺ could support your business.