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Business Growth Strategies: 6 Practical Steps to Grow In 2026

Last update: February 23, 2026

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Learn how to tackle challenges and opportunities in 2026 with actionable advice and tips on international payments. Adapt your business to the year ahead.

Business growth strategies for 2025 focused on adaptability, operational efficiency, sustainability, international expansion, and financial risk management. Businesses that invest in flexible operations, ESG initiatives, new markets, and currency risk protection will be better positioned for growth in 2026 and beyond.

For SMEs starting to plan for next year and beyond, it may seem increasingly difficult to keep abreast of new developments and business technology trends. From the Accenture report, over half of the surveyed business leaders said they weren’t fully prepared for potential changes.

However, there are actionable strategies that business owners can rely on to ensure long-term success, such as prioritising adaptability or reassessing business objectives and operations to stay aligned with market demands. Here’s what to do to stay ahead.

1. Build flexibility into your business model

Winston Churchill once said, ‘I never worry about action, but only about inaction’ and the same goes for businesses that operate internationally. In a rapidly shifting landscape, the ability to adapt and make decisions quickly is often the difference between businesses that survive and those that thrive.

Markets are shifting quickly. Businesses that can adapt — by launching new products, adjusting operations, or adopting new technology — are far more likely to survive and grow.

For example, Wrimes Cosmetics, a face paint brand and WorldFirst customer, had to pivot during the pandemic, developing a range of pet care products that’s now globally recognised. And many companies, from Play-Doh to Netflix have seized opportunities or responded to market trends to become the brands we know today.

Flexibility starts with mindset. For example, being open to rethinking how you use technology or restructuring the team to focus on emerging priorities can help you achieve your business goals, whether that’s launching a new product, automating tasks or reaching a new audience.

Here are some practical ways to stay flexible:

Monitor industry and customer trends regularly
Actively gather and apply customer feedback
Stay open to restructuring teams or workflows
Adopt technology that enables faster decision-making

This will help you anticipate changes and adapt, rather than react.

2. Review partnerships and operational efficiency

As your business grows, the systems and partnerships that once worked may become bottlenecks.

Relationships and workflows that may have been effective in the past might no longer align with your current goals or the changing market environment.

For example, as a growing business, manual processes that were feasible in the past may now be subject to errors and delays with an increased volume. While there’s an initial investment to upgrade to an automated system, ultimately, this would free up time and staff to focus on more strategic tasks.

Or consider whether your suppliers have responsible business practices that align with your values. If your customers are questioning your environmental sustainability but your long-time supplier is slow to adopt more eco-friendly processes, continuing the partnership could harm your reputation and alienate your customers.

Assess your key partnerships

Your partnerships – with suppliers, service providers, and even customers – play a vital role in your business’s success. Questions to consider include:

Does your supply chain management ensure reliable delivery times, quality, and cost-effectiveness?

Do your suppliers or service providers align with your values, such as sustainability or ethical sourcing?

Are you receiving fair value for money from service providers, or are there better alternatives available?

Are there any contracts or agreements that could be renegotiated for better terms?

Are there customers or partnerships that are no longer profitable or align with your target market?

Evaluate your internal operations

Operational efficiency is key to maintaining productivity and scaling your business, with a report showing that some businesses are losing up to US$1.3 million per year due to inefficient processes.

Here are some questions to ask:

Are there repetitive tasks that could be automated to save time and reduce human error?

Do your current tools and systems meet your team’s needs, or are they outdated?

Are communication and collaboration between teams effective, or do silos exist?

Are you consistently hitting deadlines and providing an excellent customer experience, or are delays common?

What operational processes are causing unnecessary stress, delays or errors?

3. Work with a business mentor

If you’ve found yourself uncertain about how to drive your business forward, a mentor can provide fresh perspectives, actionable strategies and the confidence to tackle your biggest challenges.

Unlike a business coach who may focus on more specific, short-term goals, a business mentor offers long-term guidance and valuable insights, as they’ve experienced the ups and downs of business themselves.

Unlike short-term mentor, a business mentor acts as an advisor in this beneficial relationship, providing anything from:

Strategic guidance
Industry-specific insight
Access to networks and opportunities
Long-term thinking based on real experience

Since the nature of the relationship can be quite broad, you’ll need to be clear on what you want to get out of a mentorship. A mentor who’s been in your industry for decades will be able to share practical advice specific to your sector, including spotting new opportunities, while a mentor with a broader business background might focus on transferable skills like leadership or financial planning. Mentorship doesn’t need to be one-directional. Reciprocal mentorships allow businesses to exchange knowledge, skills and connections.

To find a mentor, look within your existing network or:

Use the UK Government’s Mentorsme website,
Existing professional networks
Local chambers of commerce
Industry associations

4. Invest in sustainability and ESG

Sustainability is no longer optional — it’s a core business growth strategy. Regulations like the EU’s Corporate Sustainability Reporting Directive (CSRD) now require greater transparency, including from non-EU companies doing business in Europe. It also applies to non-EU companies that do business in the EU, and who meet the criteria for reporting.

Beyond legal requirements, though, research shows that sustainable practices and environmental awareness is good for business. One survey showed that half of consumers are willing to pay a premium for products branded as sustainable, while another found that over a third of B2B customers would change suppliers if their sustainability needs weren’t met. And in the UK, 52% of consumers check a brand’s sustainability practices ‘somewhat often’ or ‘very often’.

This sentiment is reflected in the opinion of C-level executives, who see customer loyalty and customer engagement as benefits of incorporating sustainability efforts.

It pays to look at your environmental impact in the broader framework of Environmental, Social and Governance (ESG), since environmental impact, social responsibility and governance practices are often interrelated. These three pillars contribute to a company’s overall resilience and profitability, with studies consistently showing that a company’s level of social responsibility is related to employee satisfaction and retention. While environmental initiatives can overshadow other aspects of ESG, considerations of human rights, diversity and transparency are equally important.

If you’re looking to integrate Environmental, Social and Governance (ESG) into your key strategy, start by understanding where you currently stand.

Environmental

Audit your impact by measuring your carbon footprint, energy usage and waste output

Set goals to reduce emissions or switch to renewable sources

Work with suppliers who meet sustainability standards

Social

Support employees with wellbeing strategies and professional training

Improve employee engagement with flexible policies and initiatives

Foster inclusivity by reviewing hiring policies and build a diverse workforce

Ensure your partners comply with the Modern Slavery Act and you have full supply chain visibility

Contribute to community initiatives or support local causes

Governance

Involve your leadership team in ESG strategies and accountability

Be transparent and share regular updates on your progress

Include ESG goals in business decision-making and business growth strategies

Strong ESG foundations improve resilience, reputation and profitability.

5. Explore new markets to reduce risk

Relying on a single market exposes businesses to political, economic and regulatory shocks. Expanding internationally is one of the most effective business growth strategies, helping companies spread risk and unlock new revenue streams.

Asia’s prominence in the global economy makes it a region to watch. Higher disposable incomes fuel demand for essentials and premium goods, with Asia adding over 80% of global new consumers (134 million in 2025). Southeast Asia sees 8% annual spending growth through 2035, while India and China add over half a billion consumers by 2030. Expanding your footprint in this region is a strategic way to future-proof your business, but growth potential isn’t just about a booming middle class.

Here are some things to consider:

Ease of business: Are regulations and processes business-friendly?

Trade tariffs: Will import/export costs affect profitability?

Market demand: Is there strong demand for your product or service?

Digital readiness: Is e-commerce and the digital infrastructure growing or well developed? What’s the internet penetration rate?

Economic stability: Are inflation and currency risks manageable?

Payments and banking: Can you easily make and receive payments in the local currency? Setting up a multi-currency account like the World Account can help simplify international transactions and improve cash flow

Competition: Who are the key players, and is there room for your business?

Cultural fit: Does your brand resonate with local values? Will language pose a challenge?

6. Strengthen financial planning and manage currency risk

If your business pays or gets paid in foreign currencies, you’ll understand the toll that fluctuating exchange rates can take on your bottom line. Exchange rates rise and drop for many reasons, including inflation, political instability, speculation and recession – factors that can be difficult to predict. However, using tools like a forward contract or natural hedging can reduce these risks.

Manage exchange rate risks with forward contracts

One way to safeguard your budget is by using forward contracts. A forward contract from WorldFirst allows you to lock in an exchange rate for up to 24 months, giving you certainty over costs; this means that even if exchange rates change, the amount you’ll pay won’t. Whether you’re paying suppliers overseas or bringing funds back to the UK, forward contracts ensure that rate fluctuations won’t derail your financial plans.

Reduce costs with a multi-currency account

Multi-currency accounts enable businesses to:

Receive and hold foreign currencies
Pay suppliers in their local currency
Avoid unnecessary conversions
Use natural hedging to offset FX exposure

By receiving payments in foreign currencies such as USD or RMB and paying suppliers in the same currency, you can avoid unnecessary currency conversions and their associated fees.

Multi-currency accounts like the World Account from WorldFirst can also help you manage exchange rate risks. This kind of natural hedging acts as a simple way to protect your business from exchange rate swings while keeping costs down.

The World Account allows you to open accounts in over 20 currencies and hold balances in those accounts without any fees. It’s free to receive payments and currency conversion margins are capped at 0.5%, while fees are waived for larger cross-currency payments.

Open a WorldFirst account for free

Open 20+ local currency accounts and get paid like a local
Pay suppliers, partners and staff worldwide in 100+ currencies
Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
Save with competitive exchange rates on currency conversions and transfers
Lock in exchange rates for up to 24 months for cash flow certainty

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Prepare for growth in 2026

Taking steps now to plan and adapt will set you up for the challenges and business development opportunities 2026 might bring. Whether it’s locking in exchange rates, rethinking priorities or exploring new markets, the key is to be proactive and strategic.

Businesses that invest early in:

Flexible operations
Sustainable practices
International market access
Strong financial infrastructure,

will scale faster and with less risk as market conditions continue to evolve.

Partnering with an expert in cross-border business, like WorldFirst, can make this process simpler. We’ve supported over a million SMEs and enterprises globally to expand their businesses, with tools and expertise to help you manage international payments, reduce currency risks and access opportunities in new markets with confidence.

Open your World Account today for free and simplify international business payments to grow your business during this year.

Lawrence Bennett is UK Country Manager at WorldFirst. He brings 15+ years of experience across fintech, ventures and e-commerce.

Lawrence Bennett

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Country Manager, WorldFirst UK

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Business Growth Strategies: 6 Practical Steps to Grow In 2026

1. Build flexibility into your business model