As we approach the final stretch of Q3, local small and medium-sized business (SMB) owners are presented with a crucial opportunity to assess their financial strategies and make any necessary adjustments before heading into the last quarter of the year. 

1. Reflect on Budgeting and Forecasting

As Q3 comes to a close, take time to reflect on the accuracy of your budget and financial forecasts for the year. Compare actual performance against projections made earlier in the year, identifying any significant variances and their underlying causes. This retrospective analysis will provide valuable insights into areas where adjustments may be needed for the final quarter.

Consider reallocating resources to initiatives that have shown promising results or scaling back on investments that have not yielded the expected returns. By refining your budget based on the latest data and market conditions, you can better align your financial resources with strategic priorities for the remainder of the year.

2. Fine-Tune Cash Flow Management

With just one month left in Q3, it’s crucial to ensure that your cash flow remains healthy and sustainable. Review outstanding receivables and follow up with clients to expedite payments wherever possible. Similarly, assess upcoming expenses and prioritise payments to maintain positive cash flow.

Explore short-term financing options, such as invoice financing or lines of credit, to bridge any temporary cash flow gaps and support day-to-day operations. Additionally, revisit your cash flow projections for Q4 to anticipate any potential challenges or opportunities and adjust your strategy accordingly.

3. Mitigate End-of-Year Risks

As Q4 approaches, it’s essential to proactively manage risks that could impact your business’s performance and stability. Assess potential risks, such as supply chain disruptions, regulatory changes, or economic uncertainties, and develop contingency plans to mitigate their impact.

Review insurance coverage and other risk mitigation strategies to ensure adequate protection for your business assets and operations. By addressing potential risks proactively, you can safeguard your business against unforeseen challenges and maintain continuity during this critical period.

In March you have a unique opportunity to fine-tune your financial strategies and set the stage for a successful end to the year. By reflecting on budgeting and forecasting, fine-tuning cash flow management, executing strategic moves, mitigating end-of-year risks, and seeking expert guidance, you can position your business for sustained growth and resilience in the months ahead. Stay proactive, stay agile, and stay focused on achieving financial success as we enter the final month of Q3.

If you’d like some advise, or have some questions, call us on 0417 859 700 or email us at