While the data shows a downward trend, there were regional and sector-specific bright spots:

• Employment increased in 9 out of 13 sectors, with Finance and Insurance leading the way (up 4.16%)
• London saw the fastest regional growth, gaining 1,100 jobs (0.20%)
• However, Scotland was hit hardest, losing 8,600 jobs – a significant 3.86% drop

Despite the dip in employment, the number of job vacancies remained relatively stable, with a minor 0.03% decline to 132,000 open positions nationwide.

If you’re a small business owner feeling the pinch, you're not alone. Whether you're adjusting staffing, preparing for tariffs, or just trying to keep the lights on, there are small but effective ways to cut costs without stalling growth. Pauline Green, Head of International Compliance at Intuit has five practical financial management tips for business owners, to help weather the storm:

1. Track expenses to gain control

With 34.6% of sole traders and 30.3% of mid-sized business owners saying they struggle to keep track of expenses, it's clear many are missing out on vital cost-cutting opportunities. It is important to accurately track expenses which will help you manage cash flow, spot inefficiencies, and prepare for challenges, especially when time and resources are limited. A small step to gain control of your finances is to aside 30 minutes each week to review all business spending. You can use a spreadsheet or financial software to categorise expenses, flag recurring charges, and highlight areas for potential savings. This regular check-in will strengthen your  cash flow control and help you make informed decisions.

2. Sharpen your financial know-how

Managing finances can feel overwhelming, especially when there’s pressure to get tax, payroll, and reporting right. You’re not alone, In fact, over 88% of small businesses worry about making accounting mistakes. Building your financial knowledge not only boosts your confidence but also leads to better, more productive conversations with your accountant. Simple habits like using digital tools to explore your numbers or reading short articles on economic trends, government policies, or tax changes can help you stay informed and make smarter decisions for your business.

3. Bring in an accountant

A qualified accountant does more than balance the books. They can uncover hidden cost leaks and offer strategic advice to improve profitability. According to Intuit QuickBooks research, small businesses that use accounting services saw an 11.5% revenue increase and saved up to nine hours per week. In fact, 77% of business owners said professional accounting helped them manage their operations more efficiently. Even if you’re not ready for ongoing support, occasional check-ins can uncover opportunities to save money, streamline operations, and free up time for running your business.

4. Plan ahead with purpose

Long-term financial planning feels out of reach for many, with 38.2% of SMBs,  29.2% of sole traders and 33.3% of mid-sized businesses citing it as a challenge. But planning ahead supports sustainable growth, increases profitability, and protects against volatility. Set clear quarterly financial goals and review them at the start of each month. Build a simple forecast using historical income and expense data, then adjust based on upcoming projects or seasonal trends. This approach helps protect against uncertainty and supports sustainable growth.

5. Monitor cash flow regularly

Cash flow is one of the biggest pain points for small businesses, with nearly 30% struggling to stay on top of it. Without a clear view of what’s coming in and going out, it’s easy to overspend or fall behind on payments. Make it a habit to review your cash flow on the same day each week. A simple 30-day snapshot that lists expected income alongside upcoming expenses can help you stay ahead of any shortfalls, avoid surprises, and make confident decisions about where to spend or save.

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