Champion Round-Up | By Ged Cosgrove, group managing partner
As we head towards the final few months of 2026, there’s certainly no shortage of things for business owners to think about. From changes to employment legislation to continued uncertainty around borrowing costs and interest rates, businesses are having to make important decisions in an environment that continues to evolve.
For SMEs in particular, these decisions can carry significant weight. Whether you’re considering taking on another employee, investing in new equipment, expanding your premises or reviewing your existing finance arrangements, it’s important to understand not just the immediate cost, but the longer-term implications for your business.
One area that deserves particular attention is the Employment Rights Act. With changes already taking effect and further reforms approaching in 2027, employers need to make sure they’re prepared. Among the changes, the qualifying period for ordinary unfair dismissal protection is set to reduce from two years to six months from January 2027. For businesses, this makes it particularly important to review recruitment practices, probation arrangements and performance management procedures, alongside seeking appropriate HR and employment law advice.
But there’s a financial consideration here too. People are often one of the biggest investments a business makes, and changes to employment obligations need to be factored into workforce planning, budgets and future recruitment decisions. At Champion, we regularly help clients understand the true cost of employing people, assess the financial implications of growing their teams and build realistic forecasts that support their ambitions.
The cost of borrowing is another area I would encourage business owners to keep under review. With inflation remaining a concern and uncertainty over the future direction of interest rates, businesses considering finance or investment need to be particularly mindful of affordability. For some, that might mean reviewing an existing loan or overdraft facility ahead of renewal. For others, it could involve assessing whether now is the right time to purchase equipment, invest in technology, acquire premises or fund the next stage of growth.
My advice would be not to make these decisions based solely on today’s borrowing costs, or on assumptions about where interest rates might go next. Instead, look at how different scenarios could affect your cash flow, profitability and ability to meet financial commitments. It’s also important not to let uncertainty become a reason to put every investment decision on hold. There are still opportunities for businesses to grow, improve efficiency and strengthen their competitive position. The key is understanding which investments make commercial sense and ensuring the business has the financial capacity to support them.
This is where having accurate, up-to-date financial information really makes a difference. Management accounts, cash-flow forecasts and financial modelling aren’t simply reporting exercises. Used properly, they give business owners the confidence to make informed decisions, identify potential pressures early and plan for what comes next.
With the Autumn Budget also approaching on 28 October, I appreciate there may be a temptation to wait and see what further changes are announced. We’ll be sharing our usual analysis of the Chancellor’s announcements on the day, including what they mean for businesses and individuals.
In the meantime, my message is simple: focus on what you can control, prepare for the changes you know are coming and don’t lose sight of your longer-term ambitions. Whether it’s reviewing your workforce costs, assessing funding options, forecasting the impact of an investment or simply taking a fresh look at your business finances, your Champion team is here to help.
We work closely with businesses of all sizes, and we know that the most valuable conversations often happen well before a decision needs to be made. So, if there’s something on the horizon for your business, please do pick up the phone. We’d be delighted to talk it through with you.
