Grow today or prepare for tomorrow? A strong business plan can help you do both.

Two words seem to describe the mindset of business leaders in 2026: cautiously optimistic. According to the Huntington Bank 2026 Beyond Business Report¹, 44% of business leaders plan to grow or expand their business over the next 12 to 18 months.

At the same time, 54% anticipate an ownership change within the next five years, although only 45% have a formal succession or exit strategy in place. Clearly, many business leaders are grappling with a dual mindset: they’re focused on near-term growth but also contemplating an eventual business transition.

Further complicating the picture, Huntington’s State of Business Sentiment: 2026 Beyond Business Report Midyear Update² found that businesses continue to face worrisome cost pressures, resulting in a slight decline in optimism. More than half of respondents reported that inflation has negatively affected their business during the past three months, while the increased cost of doing business remained a top concern across all business segments.

Taken together, these findings highlight the importance of balancing growth objectives with the need to prepare for an uncertain future. The challenge lies not in deciding between growth and preparation but in pursuing strategic business planning that addresses both priorities.

The power of business planning: 5 key questions to ask now

As you and your leadership team undertake planning for 2027 and beyond, these five questions can help guide business decisions that support your growth objectives and maximize your options for the future.

Question 1: “How can I build value in my business today while preserving my choices for tomorrow?”

Businesses often treat growth planning and transition planning as separate efforts, but the two should be considered together.

Every major decision—from investing in technology and hiring talent to expanding operations or purchasing equipment—can influence not only current performance but also future business value, ownership options, retirement readiness and personal wealth outcomes.

Key takeaway: Decisions made today can have lasting effects on the value of the business, future transition options and personal financial goals.

Question 2: “What is our vision for the next three years?”

When planning, it can be tempting to focus on immediate challenges or opportunities rather than taking a longer view. However, businesses that engage in a longer-range strategic planning process report year-over-year revenue growth that is 26% higher than those with less-defined strategies³.

A three-year strategic plan allows leadership teams to:

• Define the growth vision and success criteria
• Establish strategic priorities
• Stress-test assumptions
• Consider multiple scenarios and outcomes
• Align investment opportunities with long-term objectives

Key takeaway: Without a formal plan in place, business leaders can find themselves reacting to circumstances, rather than making deliberate decisions that support sustainable growth.

Question 3: “Do our financial resources support our future goals?”

Growth opportunities typically require some level of investment. Whether expanding operations, adding employees, purchasing equipment or entering new markets, business leaders need to have confidence that their financial resources can support their ambitions.

Maintaining the right level of liquidity helps a business prepare for unexpected events while retaining the flexibility to act when opportunities arise.

A strategic investment plan can help:

• Set cash reserves appropriately
• Allocate resources effectively
• Navigate economic volatility
• Respond to changing market conditions
• Fund future initiatives

Key takeaway: Financial planning is about more than protecting cash. It’s about creating the financial strength and flexibility needed to pursue growth when the right opportunities emerge.

Question 4: “Are we prepared for potential business disruptions?”

No business can eliminate risk entirely. However, effective planning can help reduce the impact of unexpected events and improve an organization's ability to respond quickly.

Business leaders should evaluate their preparedness for:

• Cybersecurity threats
• Fraud mitigation
• Business continuity planning
• Vendor risk management
• Key-person and personnel risks

Key takeaway: Disruptions can affect revenue, operations, customer relationships and business value. Preparation helps preserve options and reduce the impact when challenges occur.

Question 5: “What long-term outcome are we building toward—and who is helping us get there?”

While growth may be the immediate focus, now is also the right time to begin planning for the future of the business. Whether an ownership transition involves family succession, transferring the business to employees, or selling to a third party, early planning can help maximize flexibility and potential outcomes.

Business transitions often involve complex considerations that extend beyond the company itself, including:

• Succession objectives
• Legacy goals
• Potential tax implications
• Legal considerations
• Wealth and retirement planning

Key takeaway: The sooner a business begins transition planning, the more options that are typically available.

Final Thoughts

Growth and long-term planning should not be treated as separate conversations; in fact, they work best when handled together. A trusted advisor can help you see around the corners to anticipate the impact of the decisions you make today.

“Businesses must be able to balance today’s opportunities with tomorrow’s needs and goals,” says Dan Griffith, Huntington’s Director of Wealth Strategy. “Planning helps connect those conversations. Whether through scenario planning, liquidity management, operational improvements, risk mitigation or transition planning, the right guidance can help business leaders make decisions today that preserve options for the future.”

Thoughtful planning can help a business pursue growth, navigate uncertainty and build resilience—all while preserving flexibility for what comes next.