End-of-Year Business Check: A Simple Guide for Small Business Owners

As the year comes to an end, many small business owners are getting ready for festive spending and family time. But before you close shop and join the celebration, check your business just like you would service your car before a long trip.

An end-of-year business check helps you know what went well, what didn’t and how to start the new year strong without repeating old mistakes.

Check Your Finances
Money is the heartbeat of your business so take out some time to go through your records.

• How much did you make this year?
• Where did most of your money go (fuel, rent, supplies, delivery, etc.)?
• Did you actually make profit or just move money around?

Check Your Staff or Assistants
If you have workers or even one sales girl/boy, this is a good time to review how they have done.

Ask yourself

• Who can you trust when you are not around?
• Who brings in more customers or handles them well?
• Does anyone need more training?

Don’t forget to appreciate your team even if it is a small bonus, gift or kind words. It goes a long way.
A happy worker will treat your customers better.

Check Your Stock and Equipment
Whether you sell physical products or run a service-based business, take stock of what you have.

• Which items sold fast this year?
• Which ones are just taking space?
• Do you need to service your generator, POS machine or other working tools?

Knowing your stock helps you plan better for the festive rush and avoid waste in January.

Look at Your Customers and Marketing
Your customers keep your business alive don’t take them for granted.

• Who are your best customers? Send them a thank-you message or small gift.
• Which marketing worked? Was it Instagram, word-of-mouth or WhatsApp status updates?
• Which one wasted your time and money?

Keep your social media pages fresh. Update your prices, photos and contact info before the new year.

Organize Your Records and Papers
Even as a small business owner, keeping proper records matters.

• Is your business name registered with CAC? If it isn't, plan it for next year.
• Keep your receipts, invoices and supplier contacts in one file or folder.
• Check your rent and utility bills so you are not caught unprepared in January.

Proper documentation makes you look serious and helps you access loans, grants or partnerships later.

Plan Ahead for 2026
Now that you have reviewed your business, plan your next steps:

• What do you want to achieve next year?
• Do you want to earn more, open another branch or start selling online?
• What lessons will you apply from 2025?

While you are at it,

• Ensure you separate your personal money from business money.
• Pay off debts where possible and send payment reminders to customers that owe you.
• Start recording your daily sales properly, you could use a simple inventory and sales management app like COD POS or a regular notebook. If you don’t track your money, you can’t grow it.

Write your goals down and break them into monthly targets. Even small steps, done consistently can make a big difference.

Doing an end-of-year check doesn’t have to be complicated. You can do it in one or two days with your notebook, calculator and a clear mind.

Before you enjoy Detty December, give your business the attention it deserves. That way, when 2026 begins, you will be ready to grow stronger and smarter.