Is Your Business Ready for FY2026–27?
The start of the new financial year is a practical time to check the overall health of your business.
Rather than waiting until issues appear, a simple review in July can help you identify risks, opportunities and areas that need attention before they affect profitability or cash flow.
1. Cash Flow Position
Do you have enough cash available to cover upcoming obligations, including wages, superannuation, supplier payments, BAS, tax instalments and loan repayments?
With Payday Super now in effect, employers should also consider how more frequent super payments may affect short-term cash flow.
2. Debtors and Outstanding Invoices
Review outstanding invoices and ageing debtor reports.
Are customers paying on time? Are there overdue accounts that need follow-up? Strong debtor management can make a significant difference to cash flow, especially at the start of a new financial year.
3. Pricing and Profitability
Have your costs increased over the past 12 months?
If wages, materials, rent, insurance, fuel, energy or supplier costs have gone up, your pricing may need to be reviewed. Profitability can decline quietly when cost increases are absorbed without adjustment.
4. Staffing Requirements
Consider whether your current team structure supports your business goals.
Do you have the right people, systems and capacity in place? Are there skills gaps, workload issues or rostering challenges that need attention before the year gets busier?
5. Compliance Obligations
Review upcoming lodgement dates, payroll changes, superannuation requirements, tax payments, industry obligations and record-keeping processes.
If your business is affected by the new AML/CTF regime, make sure you understand whether enrolment or additional compliance steps are required.
6. Growth Opportunities
A business health check should not only focus on risk. It should also look at opportunity.
Are there new services, markets, efficiencies, partnerships or customer segments worth exploring this year? Are your goals clear enough to guide decision-making?
A reminder to also check out our Post-30 June Checklist available here:
