Small Business Research and Enterprise

By: Brendan Hastie, SBREC Business Adviser

At the beginning of the new year, it can seem a bit cliché to think that the calendar flipping over will magically change our prospects, improve our lives, or make our goals more attainable. In that sense, I understand why there might be some scepticism, since we are still the ones who have to do the work and live with the failures if we don’t achieve our goals. Setting goals can also be tough, especially when it comes to some of the main objectives you might set for your business: getting started, looking for funding, and scaling up. However, as we enter 2025, I actually think this is the perfect moment for optimism when it comes to your business goals for a couple reasons.

Reason #1: Time

The first reason for optimism is time. Now, you might be wondering what I mean when I say that time is a reason for optimism, so let me explain. We are now almost five full years removed from the beginning of the Covid-19 pandemic, which significantly impacted every sector, industry, and business in the UK and beyond. Supply chains were severely delayed, markets dried up, and the ability to trade was minimal at best. This also meant that it was a bad time for start-ups, SMEs, and other businesses looking to scale up to seek funding. Yet as we move forward and more time passes, the investment environment is becoming more accessible. This optimism was seen in 2023 and 2024 as well, only for the investment landscape to not meet expectations. However, in 2025, it seems that optimism may finally be fulfilled. According to Lloyd’s Business Barometer, up to 70% of businesses are expecting to see an uptick in turnover and profitability across 2025, and Pitchbook has stated that they project 2025 fundraising numbers to exceed 2024 while creating momentum for new fundraising cycles. As a business owner, it can be hard to find the ‘right time’ for anything: launching, funding, upscaling, or even just coming up with a business plan. It seems 2025 is a time of optimism within the fundraising and business community, so why can’t it be your time too?

Reason #2: New beginnings and embracing change

Before I get into the second reason for optimism, I want to share a fun fact with you. The month of January gets its name from the Roman god Janus, the god of beginnings, transitions, and change. This is why we make promises to change or to restart at the new year. While it may sound corny, this tradition has been going on for over 2000 years, a poignant symbol of our timeless desire for renewal and progress!

So, just as Janus symbolises new beginnings and transitions, the new year offers a chance for businesses to embrace change and innovation. We already see the world around us changing so rapidly, with AI technology being integrated at warp speed into every industry, which can be used to optimise your own business process or to create a revolutionary business idea. Furthermore, as people embrace different working models and utilise remote work, it has never been easier to create new connections across the UK and the world.

Yet change and transition are not just reserved for the world around us. This can be the year you decide to scale up your existing business, which represents a transition and change regarding your own business development. Or maybe, you have a business idea which you haven’t found the right opportunity to get started. However, use this time of reflection to motivate you, let it be the factor that transforms your idea into reality.

As a business adviser, one of the biggest challenges my clients face is the fear that their idea might fail. At some point, you might have heard the statistic that 75% of start-ups are no longer trading after five years. However, that doesn’t mean you should never start! Running a business, finding the right support, meeting the right people, and connecting with the right network will always seem like a daunting task, one that prevents us from seeking that new beginning or change. Of course, we strive to help you with all those potential obstacles at the Small Business Research + Enterprise Centre, because sometimes all it takes is to put yourself in the right environment that gives you the confidence to create that new beginning. It starts with you though, willing to tackle challenges and seize new opportunities.

So, as we enter into the new year, I hope you see this as the perfect time to achieve your goals. There is a lot of optimism in the air at the moment, with plenty of different industries, investors, fundraisers, and organisations all hoping for a more profitable and fruitful year ahead. With the right plan in place, clearly articulated objectives, and a willingness to face challenges head-on, you can make 2025 the year you accomplished your business goals.

Find out more about the support offered by the Small Business Research + Enterprise Centre.