In many family businesses, particularly if you are in the second or third generation there is a Business Risk around developing a sound Exit Strategy. Performance, personality and pride are all on display and can seriously impact on the value of a business if the decision is taken to “Do Nothing” because it all gets too hard to agree on the best option for your Exit Strategy.
Over the years we have worked for many small business owners and universally the most successful are open to scrutiny by a Board and/or mentor to provide a sounding board for significant business decisions and to also act as a filter to assess business risk. Unfortunately we are called occasionally to sort out problems after the bad decision has impacted negatively on the finances of the organisation and/or key pe
I have been inspired today by listening to the founder of aussieBum, Sean Ashby talking about his business that in 14 years has gone from him being a beach bum at Bondi to a major internationally successful Australian retail brand. How did this happen? We have had a GFC and political uncertainty around the world. Yet here is a guy who has made it happen through passion and servicing the needs of his customer every single day over 14 years. Wow all business owners can look at this phenomenal success story and say there must be a secret.
If you are the CEO of a small to mid-sized (SME) company, your business can’t afford to be slow to respond to business opportunities, lose key staff, or fail to adapt to necessary change.
Many people who have an idea or invention are keen to raise capital but unless you have put in the work to build a solid business foundation or have the right business acumen your idea is never going to be realised.
Eighty-one per cent of small and medium sized businesses (SMEs) owners experienced cash flow issues in the past 12 months and 47 per cent believe their cash flow situation has worsened over the year. These are the findings of the latest Bibby Barometer – a bi-annual small business sentiment survey launched this month.
There are compelling statistics about the scale of the succession planning challenge facing small business in Australia over the next 20 years. Here are a few facts based on an RMIT University survey carried out several years ago.
The impact of the GFC on our business environment is well documented over the past 18 months. It is tougher now to raise new equity and gain support from your bank. In short the number of business failures continues to rise in 2010 according to the latest Australian...