New financial year business goals Australia are more than just a date on the calendar – they’re your chance to reset, refocus, and power up for 2025. Whether you’re a tradie keeping the tools humming, a woman balancing business growth with family, or a first-time entrepreneur, July is your chance to step back and make sure you’re steering the ship in the right direction.

This guide breaks down 5 essential steps every small business owner should focus on — with real examples, practical tips, and a dash of BJT’s trademark plain-English advice.

1. Reflect on last year like a boss

Before setting new targets, it’s crucial to reflect on your wins and lessons from last year. Reflection isn’t about beating yourself up for mistakes — it’s about understanding your financial story.

  • What products or services performed best?
  • Which months were cash-rich, and which were tight?
  • Did any marketing campaigns actually deliver ROI, or were they just shiny distractions?

    Practical Example:

    A plumbing business in Berwick noticed 60% of its annual revenue came from emergency call-outs. Instead of chasing new service areas, the owner invested in a targeted Google Ads campaign for “24/7 emergency plumber” – doubling bookings in six months.

    BJT’s Advice: Don’t just look at revenue totals – break it down by service line. If one stream is carrying the load, sharpen your focus there. On the flip side, if you’re sinking time into something that’s barely breaking even, it might be time to cut it.

    2. Set SMART goals that stick

    Vague promises like “grow the business” don’t cut it. SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) make your new financial year business goals Australia achievable.

    Practical Example:

    Instead of “boost social media presence,” a Yarra Valley Pilates studio set the goal: “Grow Instagram followers by 30% (from 1,000 to 1,300) by September through weekly Reels and collabs with local wellness brands.” Result? Not only did they hit 1,350, but class bookings jumped by 15%.

    BJT’s Advice: Start small and stack wins. You don’t need 50 goals – you need 3 to 5 really clear ones. The more specific, the more motivating. And don’t forget to celebrate when you tick one off (yes, cake is a business expense… sometimes 🍰).

    Reflecting on last year’s results for new financial year business goals Australia

    3. Update your budget and cash flow forecast

    Budgets aren’t just spreadsheets – they’re survival tools. Inflation, rising interest rates, and cost-of-living pressures mean your 2024 numbers won’t match 2025 realities.

    Why It Matters

    • Rising super guarantee percentages = higher wage costs.
    • Energy bills are trending upward.
    • Marketing costs often creep up without you noticing.

      Practical Example:

      A local café adjusted their forecast to include a 15% increase in supplier costs. By planning early, they raised menu prices slightly and avoided a cash flow crunch at Christmas.

      BJT’s advice: Always plan marketing and growth spend after factoring in BAS and super obligations. That way, you don’t blow cash on a Facebook campaign only to be caught short on payroll tax.

      4. Review your business structure & tax strategy

      One of the most overlooked new financial year business goals Australia is reviewing your structure. Sole trader? Trust? Company? Your setup has massive tax and liability implications.

      Practical Example:

      A sole trader hitting $150k profit kept getting slugged with high tax bills. By switching to a company structure, they reduced their tax rate, protected personal assets, and even set themselves up for future growth.

      BJT’s Advice: The structure that worked when you launched may not be the right one now. Once profits climb past $120k, it’s often time to revisit whether staying a sole trader is costing you thousands. Don’t wait until EOFY panic to ask the question.

      5. Automate, delegate, elevate

      Time is the one resource you can’t make more of. Automation and delegation should be at the top of your new financial year business goals Australia checklist.

      Examples of What to Automate

      • Bookkeeping: Xero or MYOB with bank feeds.
      • Scheduling: Calendly
      • Payroll: Single Touch Payroll-compliant systems.

        Practical Example:

        One small tradie business switched from manual invoicing to Xero’s automatic reminders. Result: debtors paid 20% faster, and the owner stopped spending Sunday nights chasing bills.

        BJT’s Advice: Your hourly rate is more valuable than you think. If you’re worth $150/hr on the tools, but you’re spending 5 hours a week fiddling with spreadsheets – that’s $750 of lost value. Hand it off.

        Ready to kick off strong?

        Don’t drift into the new year. New financial year business goals Australia aren’t just theory — they’re the foundation of growth, confidence, and stress-free EOFYs.

        📅 Book a strategy session with BJT Business Advisors and let’s map your 2024–25 financial year for growth, profit, and balance.

        Start fresh. Start smart. Make this your best year yet.

        FUTURE PLANNING, FUTURE FREEDOM

        Setting you up for the future, from the very beginning.

        We will nurture your freedom to succeed by supporting you to make sound financial decisions every step of the way. We work with business owners through all business stages and with business of all sizes.