Autumn Budget: What SMEs Should Be Thinking About

Sarah Harford
October 14, 2025

The Autumn Budget is just around the corner, and while no one knows exactly what the Chancellor has up their sleeve, it’s a good time for small and medium-sized businesses to take stock. Budgets can bring changes to taxes, employment rules, or even energy costs – and being prepared now means fewer surprises later.

Take a Fresh Look at Your Costs

Running a business often means keeping a close eye on every penny. Now’s the perfect time to review where your money is going. Are there subscriptions you don’t really use? Could you renegotiate with a supplier? Even small tweaks can add up.

Getting rid of a service you don’t use, or shaving a bit off a monthly bill, could free up cash that makes a real difference if new taxes or levies land later this year. It’s not about big changes overnight, but about spotting those quick wins that keep your costs lean and your business ready for whatever comes next.

Be Ready for Tax Tweaks

Budgets usually come with some sort of tax change. It could be business rates, corporation tax, or perhaps new reliefs to encourage investment. We don’t know yet – but it’s smart to do some “what if” planning. For example, what if taxes went up slightly – could your business absorb it?

Or if new incentives appeared, how quickly could you take advantage? Thinking ahead like this means you won’t be caught off guard, and you’ll be in a stronger position to act fast. A bit of planning now could save you stress (and money) later.

Keep Employment Basics in Order

Changes to wages or employee benefits often come through in the Budget. For SMEs, keeping staff contracts, policies, and payroll up to date is important – not just for compliance, but also to show your team you’re looking out for them. If the minimum or living wage changes, you’ll want to be ready to adjust without hassle.

It’s also worth double-checking things like holiday entitlement, pension contributions, and any staff perks you offer. Making sure these are all in line with current rules avoids last-minute scrambles if new legislation is announced. Plus, when your team sees you’ve got the basics covered and are looking out for them, it builds trust and helps morale – especially during times of change.

Don’t Forget Energy

Energy bills can be one of the trickier costs to manage. Prices move, contracts end, and sometimes government policy shifts too. A quick check now could save you headaches later:

Know Your Contract Dates:
Check when your contract ends/renews so that you don’t slip onto higher rates.
Make Small Efficiency Changes:
Things like switching to LED lights or checking timers can cut costs.
Stay Alert for Support Schemes:
The government sometimes rolls out grants or help for SMEs looking to cut energy use or go greener.
Look at Renewables for Long-Term Savings:
Generating some of your own power (like with solar panels) can help cut operating costs and make you less exposed to sudden price hikes. It also keeps you aligned with the shift toward cleaner energy, which could mean new incentives down the line.

Don’t Let Contracts Run on Autopilot

Another easy way to stay on top of costs is to review your contracts regularly. Letting them auto-renew can mean you’re paying more than you need to – whether it’s energy, telecoms, or other essential services. It’s often worth leaning on professionals who specialise in these areas. Not only can they help you find better deals, but they’ll also save you time (and stress) later if any issues or disputes pop up with your suppliers or providers.

Keep an Eye Out for Support

Past budgets have included funding for things like staff training, digital tools, and small business growth schemes. These opportunities often get snapped up quickly, so it pays to stay alert. For example, there have previously been grants to help companies invest in software, apprenticeship schemes to boost skills, and funding pots for businesses looking to go greener. Being ready to apply early could give your business a real advantage.

The Autumn Budget doesn’t have to feel daunting. By giving your costs, taxes, employment, and energy a once-over now, you’ll be in a strong position no matter what’s announced. And who knows – there may even be new opportunities for SMEs ready to take them.