Issue 23 – Winter 2026
Year in Review & 2026 Forecast
Uncertainty of both trump tariffs and the budget caused some turbulence and uncertainty. Tax rises and high inflation (particularly wage inflation) were unwelcome, leading to a rise in unemployment as businesses were forced to cut costs. What really impressed me in 2025, though, was the resilience of small business owners, and I do hope that 2026 will bring some certainty and stability in which to operate.
Having said that, there will always be some challenges ahead, and the following come to mind:
- Availability of working capital at lower borrowing rates. With inflation beginning to ease, interest rates should edge downwards, but at the same time, we need banks to start lending more
- Regulatory changes, such as the further rollout of Making Tax Digital.
Let’s be positive and hope inflation keeps coming down, Government infrastructure spending increases, business rates fall, and AI continues to make life easier. And, please – no more tax rises!