6 Year-End Planning Tips for Small Business Owners

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Posted On: November 3, 2025 by Peoples Bank of Kankakee County in: business

6 Year-End Planning Tips for Small Business Owners

As the end of the year approaches, small business owners are uniquely positioned to reflect, reset, and build a game plan for growth in the new year. Whether you run a family business, a startup, or a growing local company, now’s the time to take stock and prepare for what’s ahead.

At Peoples Bank, we’re proud to support our local business community with tools and advice that help simplify your finances and power your progress. Here are six steps you can take this November to strengthen your business for 2026.

1. Review Your 2025 Performance

Start by analyzing key financial metrics from this year such as revenue, expenses, profit margins, and cash flow. What worked well? Where did you face challenges? Compare your performance against your original goals and industry benchmarks.

Use this insight to identify where to invest more energy and where to pivot.

2. Set Clear, Measurable Goals for 2026

Once you’ve reviewed your performance, look ahead. Whether you're aiming to increase revenue, expand your team, or streamline operations, set SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound) to guide your strategy.

Need help identifying your top priorities? A business banker at Peoples Bank can help you align your goals with the right financial tools.

3. Refresh Your Budget and Cash Flow Plan

Solid budgeting can be the difference between stress and stability. As you prepare for 2026:

Separate fixed and variable expenses
Plan for seasonal cash flow changes
Build in cushion for unexpected costs

Consider tools like business savings accounts or lines of credit to help cover slow periods or unexpected opportunities.

4. Optimize Your Business Banking Setup

Having the right financial foundation matters. With Peoples Bank, our business banking services are built for flexibility and ease. This includes:

Business checking and savings accounts
Online and mobile banking access
Merchant services and cash management tools
Fast, local lending decisions

By reviewing your current setup, you may find ways to streamline expenses, improve cash flow, or access better financial products.

5. Mitigate Risk and Protect Your Business

Year-end is the ideal time to reassess risk:

Is your business properly insured?
Do you have emergency funds in place?
Are your digital systems secure?

Simple updates such as reviewing your insurance coverage or implementing fraud prevention tools can go a long way toward safeguarding your success.

6. Lean on a Trusted Team

Running a business can be challenging, but you don’t have to do it alone. Surround yourself with trusted professionals who understand your industry, your goals, and your community. Whether it’s a tax advisor, CPA, or your banker, having the right support can offer fresh insights and help you make smarter decisions.

At Peoples Bank, we’re more than just your bank. We're your team. Our local experts are here to offer personalized guidance, responsive service, and financial solutions tailored to your business.

Plan Now, Thrive Later

The most successful business owners don’t just react to change, they plan for it. This November, take time to reflect on your journey and chart a clear path forward. Whether you’re expanding, refining, or just getting started, Peoples Bank is ready to help you make 2026 your strongest year yet.

Let’s talk about the tools and solutions that can help your business grow. Visit your local Peoples Bank branch or connect with our business banking team today.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.