December is National Write a Business Plan Month so it’s an ideal time to think about how you can plan now to scale your business in the coming year. Some actions identified in your plan can be implemented in weeks or months; others take years. Still, having a road map to follow can assist you on the journey. Making a business plan—or updating an existing one—is something you should do on a regular basis. Things change: the economy (tariffs; interest rates), products and technology, employees’ wants and needs—are continually changing. You need to get ahead of these changes if you want to expand your business success. The following is an update from last year’s blog and serves as a reminder to revisit your current plan and plot your course for 2026.
Items to consider for your 2026 business planning:
Are you planning on hiring additional employees?
Your employees are the core of your business; they make things happen. Scaling your business may include the need to add to your staff.
- What can you afford in terms of wages and benefits for new employees? Have you budgeted for expansion? Maybe you can scale your business without having to take on new employees; using independent contractors may be a solution where appropriate.
- Have you considered any legal ramifications of expanding your staff? Having additional employees may subject to you more federal laws. For example, if you have a group health plan and 20 or more employees, you are subject to COBRA; 50 or more employees and you must adhere to the Family and Medical Leave Act. Don’t overlook state and local level laws geared to the number of employees.
- Is it time to outsource payroll and HR to a third-party payroll company or Professional Employer Organization (PEO)?
What are your plans for AI and other technology?
Seventy-five percent of small businesses are already using AI. In addition, the metaverse and other technology are being deployed. Looking to 2026, 71% of small businesses plan to increase their AI investment. You really can’t afford not to stay up with AI and other technological changes if you want to stay ahead of your competitors and scale your business.
- Have you thought about ways in which to use AI and/or other technology? How can it help with customer service, data analysis, research, marketing campaigns, and more?
- Have you budgeted for AI adoption? Prices are all over the place, depending on your needs and the solutions you choose.
- Can tax law changes from the One Big Beautiful Bill Act help reduce the cost of using new technology?
How will changes in the economy impact your decision on growth?
You can’t control what happens to the economy, only how you respond.
- Are tariffs inducing you to find new vendors?
- Will falling interest rates mean you can afford to borrow more money for expansion?
- Are you anticipating the need adjust your pricing?
What resources will you use to write/revise your plan?
There are a number of resources you can use. Here are some free template options that you can use to create a business plan. Fill in the blanks and you get a complete plan.
- QuickBooks
- SBA
- Xero (you have to provide contact information to receive a downloadable template)
You can also find AI-generated business plans. Just provide information about your business and the rest is done for you (no templates needed). Examples of free options:
Final thought
“A goal without a plan is just a wish.” ~ Antoine de Saint-Exupery
Treat your plan as a tool for action, and continually revise it as things change. In crafting it, use measurable targets and not vague goals. Don’t just include a goal to grow sales, but rather specify by what percentage (e.g., 5%) and by when (e.g., Q4 2026). Avoid “wishful forecasting” by basing your targets on actual data, such as local market statistics and Federal Reserve reports.
If you are unsure about what’s in your business plan, have others look at it. Ask your CPA to review it. You can get free feedback from SCORE.
Read more concerning business planning in this list of blogs here.
