There is little doubt that Australian business owners have been at the mercy of the global economic rollercoaster for some time.
Some forecasts point to a looming financial crisis that will cut deeper than the recent GFC thanks to Europe's continuing inability to reign in its debt issues, while the optimists are pointing to Australia as one of the healthiest economies in the developed world with the resilience to withstand a second wave of global recession.
Whichever side of the speculation see-saw you come down on, what's true is that you're in the hot seat when it comes to steering your business through whatever challenges and opportunities 2012 will bring.
Working as we do with clients across many industries, we know that the impact of economic uncertainty on business owners will not be universal.
Starting from February, Bates Cosgrave will be exploring the fundamental decision points that exist within any typical business and how they affect growth, efficiency and profitability. Topics will include:
- Cash flow – (knowing your position, managing cash into and out of your business, finance alternatives)
- Managing risk – (financial, business diversity, adaptability, market relevance, strategy, intellectual property)
- Efficiency in your business – (relevant tools, resources, contracts, outsourcing, suppliers)
- Building your business -– (grants,pricing, profit, position, management, opportunities)
- International – (tax, mobile workforce, forex, LAFHA, residency, cross border markets)
- Sales & Marketing – (relationships, products, target markets, strategy, differentiation)
- Employing staff – (ensuring you have the right people, employment contracts, redundancy)
- Profitability – (managing costs and expenditure, pricing, inventory, taxation & reporting etc)
- How to leave your business – (selling, divestment, capital gains tax, succession and retirement)
- Partners and joint ventures –(how to exploit shared opportunities, combining skills and resources)
- Technology – (a showcase of technologies that help your business efficiency)
- Do you need to do it on your own? – (outsourcing, expert navigators, partners/joint ventures)
We'll continue to spotlight key business discussions on our Facebook page alongside the Business Coach and Clients in Focus, as well as a series of new fact sheets including how to start and build a business, doing business in China and valuing your business.
Bates Cosgrave will also be expanding opportunities to engage directly with our team, including our Boardroom Sessions, which have been a great success. We've had many businesses attend our Hedgehog foreign exchange sessions with plenty of interest from people who have not made it and have other Business Sessions in the pipeline for 2012.
As the New Year gets underway, we hope you enjoy our new Perspectives series and keep an eye out for upcoming events and discussions.
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Last updated January 2012. This article is provided for information purposes only and should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.