Credicorp
New Year 2026: reviewing your business finances for the year ahead
A short, no-judgement guide to reviewing your business finances at the start of a new year — what to gather, what to look for, and where to get free business debt advice if it is not adding up.
The start of a new year is a natural moment to take stock of where the business stands financially. This is a short, no-judgement guide to doing that well, particularly if some of last year felt tight.
1. Gather, do not panic
Before deciding anything, line up the facts. Pull together a recent month or two of business bank statements, a list of every regular payment going out (including any subscriptions the company has stopped noticing), and the latest statement from each business credit account — loans, business credit cards, overdrafts, supplier accounts, anything that has a balance. Business Debtline publishes free budgeting tools for businesses, or it works just as well on a single sheet of paper.
2. The two numbers that matter most
Two figures tell you most of what you need to know:
If the first is bigger than the second, that is the position to address — usually by looking at both sides at once (essentials you might cut, income you might add). It is not unusual; it is fixable. For the everyday routines that keep those two numbers healthy, our guide to managing your money as a UK micro-business is a good companion to this review.
- The company's essential monthly outgoings — premises rent, business rates, utilities, payroll, stock, transport, basic minimum payments on credit. Not what it usually spends; what it has to spend.
- The company's reliable monthly income — what comes in even in a quiet month.
3. Talk to creditors early
If a loan is part of what is making things tight, please talk to whoever holds it before the position becomes urgent. For Credicorp customers, the struggling-to-pay article sets out the options — a payment arrangement, a hardship variation, or a short extension — and the Forms & Requests page has the form for each. We would much rather hear from you in January than chase a missed payment in February.
4. Free advice if it is not adding up
If the numbers do not balance, free, independent advice is available and you do not need our permission to use it. Our article on free debt advice in the UK lists the main providers, all of whom can talk through your full position — not just your Credicorp loan — and recommend the right next step.
5. Look at the year as a whole
Most business budgets have one or two months a year that are heavier than the rest — a VAT quarter, an annual insurance renewal, a corporation-tax bill, a seasonal stock build. Setting a little aside each month for those is one of the most effective things you can do, even if the amount feels too small to bother with. If the review leaves you with a genuine surplus once the year's lumpy bills are covered, our guide to investments for a UK director sets out a sensible, jargon-free way to think about it.
Whatever the year brings, please do not let it become urgent before you tell us. We are always easier to deal with early.
More from the newsroom
Why we record our calls
Calls to and from Credicorp Limited are recorded. We explain why, and how those recordings are looked after.
Settlement figures on a business loan UK: when to ask and what the number means
A settlement figure is the exact amount needed to clear your loan on a specific date. Here is what it includes, when to ask for one, and how to use it.
How to spot a loan scam UK: warning signs and impersonation
Knowing how to spot a loan scam in the UK protects your business. Practical advice on the warning signs and how to confirm you are dealing with the genuine Credicorp Limited.
Document accessibility: large print, plain language, accessible PDFs
Standard documents do not work for everyone. We can send your statements, letters and forms in larger print, in plain language, or in an accessible electronic format on request.
Ready when your company is
A 5-minute application. AI decision in minutes, confirmed by a real underwriter. Same-day funding on approval. No personal guarantee.