New research and statistics for Australian Business owners
I am constantly doing research to find ways to get even better performance out of my clients to help them achieve their goals. Recently I attended the 2009 Maus Business Systems Accredited Partners annual conference where we saw new products and research material to improve business efficiency.
I have been working with Peter Hickey (CEO) since 1998 and through local and international affiliations I am using materials that have been developed to help successfully integrate services and effectively implement systems and programs developed based on years of research.
Australian business owner statistics
- 1.26m There are 1.26 million Businesses in Australia (Non ag business)
- 60% Are categorised as family businesses
- 64% SME Owners have their house on the line >
(PWC Private Business Barometer – 09 of 756 enterprises interviewed for the addition of the barometer 63.2%recorded an annual turnover ranging from A$10 million – A$50 million. Average turnover enterprises interviewed was A$49 million)
Business owners concern
Not meeting Targets 71.3% poor execution plan Good Economy
Business Planning – linked to success
- 37-40% Have no formal business plan
- 56% Owners develop business plan for credit application
- Success Owners relate relationship between plan and success
Top 5 issues
- Business Management
(KPMG and Family Business Australia of Family Businesses Needs 2007)
Aging Business Owners
- 500,000 Business owner over the age of 50
- $1.6 trillion SME Owners have their house on the line
- 76% Indicated they would consider selling their business if asked
- 55% Of all exits are due to Death, disability, bankruptcy, receivership or cessation
A CEPA Certified Exit Strategy Plan
An Exit Plan is one of the most important tools you should have in your business. It’s a plan that considers your future desires and ensures that you remain focused on achieving those goals whilst removing you from the business.
A good Exit Plan enables a smooth transition with less likelihood of disruption to the operation. By planning your exit well in advance you can maximise the value of your business and enable it to meet your future needs. Make sure your plan is attainable – set a realistic timetable and measurable milestones along the way and stick to them.
In addition to my exit strategy services we have secured an initiative called:
R&D Tax Credit (AusIndustry)
Mentum mentoring service is covered by the new R&D Tax Credit; is a broad based and market driven incentive package. The two core components of the package are a:
- 45 % per cent refundable tax credit (the equivalent to a 150 % concession) for companies and individuals at less than 20 million per annum turnover
- 40% standard tax credit (the equivalent of a 133 %t deduction.
Information on the Government Innovation Agenda, Powering Ideas – An Innovative Agenda for the 21st Century, is available at the department’s web site: www.innovation.gov.au. Support Line: 1800 77 7275.
Is your business adaptable?
Adaptability is the ability to flourish and sustain high performance. It can be improved through conscious effort and creating a partnership with your mentor based on mutual trust and respect. Both people must realise they are comfortable enough within the relationship to be challenged and extended. This can form an unbeatable combination; a combination of enthusiasm, energy and innovation.
In just 30 minutes discussing your most pressing problems, (free of charge) I can give you clarity on how to get your business back on track. Remember, I offer a money back guarantee to help you make every day more productive and more profitable.