Tips on building a business strategy for success in 2026

It’s been a full year. You’ve worked hard to keep things running, serve your customers, and adapt to change. As 2025 draws to a close, it’s natural to focus on closing out projects and meeting year-end goals. But this is also the best time to pause and plan ahead. With December around the corner, now is the moment to shape your business strategy for 2026.

As a small or medium-sized business in Canada, you’ve faced shifting market dynamics, changing customer expectations and new technologies. Taking time now to reflect and plan will help you enter the new year with clarity and confidence.

Why act now

As per the Ontario Chamber of Commerce’s 2024 Ontario Economic Report, business confidence in the economy has dropped to a record low for the second year in a row, with only 13 per cent of businesses feeling confident in Ontario’s economic outlook. Confidence is lowest among small businesses (1 to 99 employees).

When examining that data, it suggests that you should avoid drifting into 2026 without a clear roadmap.

As you wind down the year, you still have a window to reflect, plan, and align. If you wait until January to begin strategy work, you lose momentum and risk beginning behind.

Step 1: Assess your current position

Begin with an honest audit of your business. Take stock of:

Step 2: Define your strategic objectives for 2026

Your objectives should be specific, measurable, and timebound. You might set objectives such as:

Define 2-4 strategic objectives. Avoid setting too many. For a small business, you’ll likely own these goals yourself, but make sure they’re specific enough to track progress.

Step 3: Identify strategic initiatives

With objectives in place, choose the initiatives that will drive them. For 2026 consider the following areas:

Technology and digital operations

Canadian businesses are increasingly adopting digital-first operations. Statistics Canada notes that only 8 per cent of medium-sized businesses in Canada used software or hardware with AI in 2023. Investing in the right tools now can pay off next year. Initiatives may include:

Brand building and social media

Your brand is the sum of how your audience perceives you. In 2026, your brand will matter more than ever, especially in a Canadian market where digital reach is high and competition is intense. According to recent data, about 94 per cent of small businesses in Canada use social media for marketing at least once a month, and 52 per cent do so daily.

Social media offers you many opportunities:

Your initiative plan might include choosing 2-3 social platforms, defining a content calendar, training someone to respond to messages daily, and allocating a budget for social ads. You can leverage AI to up your social game.

Customer experience and retention

In a competitive market, retaining customers often costs less than acquiring new ones. Define initiatives like:

Choose the right POS system for your business

Your point-of-sale system does more than process payments. It helps you understand what sells, track inventory, and manage your team. The right POS can save time and simplify daily operations.

When reviewing options, look for features that match your business goals. Retailers may need strong inventory management and analytics. Restaurants might prefer tableside ordering or kitchen display systems. Service businesses should look for mobile payments and appointment tools.

Sustainability and purpose

Canadian businesses increasingly include sustainability and social purpose in their strategy. If you embed purpose (for example local sourcing, eco-friendly packaging, community support) this helps strengthen your brand and may open new markets.

Step 4: Build a timeline and key milestones

Assign start dates, end dates, and milestones for each initiative. For example:

Use quarterly reviews. Ensure you track progress early so that by Q3 you can make adjustments.

Step 5: Monitor metrics and review regularly

Define metrics aligned with your objectives. For example:

Set up a dashboard or a simple tracking sheet. Review monthly and quarterly. Use the insights to adjust your initiatives.

Build your brand for 2026 and beyond

Brand building remains central to business strategy. For Canadian SMBs, opportunities include:

When you build a brand that resonates, you make your strategy more sustainable and your connection with customers stronger.

Key takeaways and action list

TLDR: Here is your action list to use before the New Year:

Set up early for success

Your opportunity is real. By acting now, you set up a business strategy that aligns with 2026. By focusing on brand, digital operations, customer experience, and social media, you give your business a foundation for growth. Use simple language, clear objectives, and a disciplined review process. The pieces are within your reach. Take the steps, engage your team, track your progress, and let your business move forward with confidence.

So, are you ready for 2026?

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Sources:

https://occ.ca/wp-content/uploads/2024-Ontario-Economic-Report-1.pdf

https://www150.statcan.gc.ca/n1/pub/11-621-m/11-621-m2024007-eng.htm