Mid-Year Money Check: Are You on Track?

As we cross the midpoint of 2025, it’s the right time to hit pause and assess how your business is performing financially. Whether you’ve had a strong first half or hit a few speed bumps, a mid-year review gives you the chance to make course corrections while there's still time to make an impact before year-end.

1. Start with your profit and loss statement from January through June. Are sales in line with your goals? If revenue is up, have expenses grown faster than expected? Many small business owners overlook creeping costs that chip away at profitability over time. Mid-year is your opportunity to spot those trends and take action—before the holiday season puts you into reactive mode.
   

2. Next, check your cash position. How many weeks—or months—of runway do you have if sales slow down? Cash flow should be reviewed separately from profit. You may be profitable on paper but still feeling pressure from delayed payments or rising vendor costs.
   

3. Also, assess your estimated tax payments. If your income has increased compared to last year, you may be underpaying. Adjusting your quarterly tax strategy now is much easier than catching up in January when cash is tight. And if revenue has dropped, adjusting estimates can free up cash you may not need to send to the IRS just yet.
   

4. Take a few minutes to review your pricing structure. Are you still charging the same rate as last year, even though supply costs, insurance, or wages have increased? A modest price adjustment—paired with clear communication—can help protect your margins without alienating loyal customers.
   

5. Finally, don’t forget to review your goals. If your Q1 goals didn’t stick, now is a great time to reset with more realistic expectations and a clean slate for Q3.

   
   

Small course corrections made now can put you in a much better position to finish strong. If you’re unsure what the numbers are telling you—or you’ve been too busy to look—this is a good time to schedule a mid-year financial review with your bookkeeper or CFO advisor.