The Voice of Australian Business - Wave 5
•Download as PPTX, PDF•
2 likes•239 views
The Voice of Australian Business is a long term research project that follows and explores the mindset, needs, expectations and concerns of the Small to Medium (SME) business environment in Australia. The survey is conducted online with business owners, ‘C’ suite or Directors (decision makers) who are remunerated for their time. The survey has been carried out twice a year since 2014 and each survey examines key areas of SME concerns yet retains lines of questioning around business confidence, growth and technology. This is the fIfth ‘Voice’ survey and the data represents what SMEs are telling us.
Recommended
Recommended
More Related Content
What's hot
What's hot (19)
Similar to The Voice of Australian Business - Wave 5
Similar to The Voice of Australian Business - Wave 5 (20)
More from Bentleys (WA) Pty Ltd
More from Bentleys (WA) Pty Ltd (20)
Recently uploaded
Recently uploaded (20)
The Voice of Australian Business - Wave 5
- 1. TheVoice of Australian Business 2016 Wave 5
- 2. The Voice of Australian Business 2016 Mark Chapman – CEO The Bentleys Network ceo@bentleysnetwork.com.au
- 3. What is The Voice? The Voice of Australian Business is a long term research project that follows and explores the mindset, needs, expectations and concerns of the Small to Medium (SME) business environment in Australia. The survey is conducted online with business owners, ‘C’ suite or Directors (decision makers) who are remunerated for their time. The survey has been carried out twice a year since 2014 and each survey examines key areas of SME concerns yet retains lines of questioning around business confidence, growth and technology. This is the fIfth ‘Voice’ survey and the data represents what SMEs are telling us.
- 4. Why does Bentleys collect this data? • There are 2,121,235 businesses in Australia • Of which 2,045,333 are SMEs • They produce over 90% of GDP • They provide approx. 69% of the workforce Source Australian Bureau of Statistics 2015 • SMEs feel that they do not have a ‘Voice’ • A professional services firm needs to understands its clients concerns. • Bentleys wants to position itself as a ‘thought leader’
- 5. The Voice 5 - What did Bentleys ask? • The current SME environment– • Business Confidence • Barriers to Growth and success • Start-ups, founders and failures • Attitudes towards technology– • Who has adopted the Cloud? • How has the NBN been received? • Domestic and International Influences – • How is the Turnbull Government tracking? • Brexit and Trump –so what? • Superannuation and Retirement • The proposed changes – do you know what is happening? • Can SME business owners retire comfortably? • SMEs and Foreign Investment– • Do SMEs want foreign investment? • How do SMES get advice on foreign investment
- 6. What is an SME?
- 7. Definitions? micro: 1-4 employees small: 5-19 employees medium: 20-200 employees Metro – A capital city or its surrounding suburbs Non-Metro – a non state or territory capital or a regional or remote area
- 8. Data Available 39% 36% 23% Micro Small Medium By Size 46% 19% 14% 36% 28% 11% Improve profits Improve cash flow Improve business value By Location Metro Non-metro
- 9. The Voice 5 - What did we learn? • Larger SMEs are maintaining greater confidence than their smaller counterparts • Growth is the goal for the coming year for small and medium businesses • Willingness to lean on external advice and guidance greater for larger businesses • Outsourcing is occurring most commonly for accounting and IT support • SMEs will generally apply technology once they feel it is needed, rather than proactively implement • Mixed reception to the NBN • Trump, Brexit, Terrorism –not a concern, but market volatility is • Expectations on Turnbull doing right by SMEs are generally low • Awareness of proposed changes to Superannuation is low
- 10. The current SME Environment
- 11. 21% 14% 25% 16% 18% 40% 40% 34% 44% 41% 23% 25% 25% 24% 22% 13% 18% 15% 14% 16% 3% 3% 2% 3% 3% Wave 5 Wave 4 Wave 3 Wave 2 Wave 1 Confidence in business prospects over next 12 months Extremely confident Somewhat confident Neither confident nor worried Somewhat worried Extremely worried Confidence is beginning to recover
- 12. 21% 19% 23% 23% 22% 20% 40% 37% 45% 41% 40% 41% 23% 25% 21% 23% 21% 26% 13% 17% 8% 8% 13% 12% 3% 2% 3% 5% 4% 2% Total Micro Small Medium Metro Non-metro Extremely confident Somewhat confident Neither confident nor worried Somewhat worried Extremely worried Confidence in business prospects over the next 12 months
- 13. This confidence leads to… likely business action 49% 34% 32% 28% 23% 21% 16% 13% 8% 7% 6% 4% 4% 2% 2% 13% Acquire new customers Grow revenue Grow profits Hire new staff Introduce new products or services Invest in new technology Invest in new plant or equipment Invest in marketing/advertising Exit the industry (e.g., orderly closure or sale) Introduce new initiatives to support your employee value… Invest in new premises Obtain/seek specialised turnaround or restructuring advice Re-finance Acquire a new business Make formal appointment over business (e.g.,… None of the above
- 14. This confidence leads to… an opportunity – a touch point 49% 34% 32% 28% 23% 21% 16% 13% 8% 7% 6% 4% 4% 2% 2% 13% Acquire new customers Grow revenue Grow profits Hire new staff Introduce new products or services Invest in new technology Invest in new plant or equipment Invest in marketing/advertising Exit the industry (e.g., orderly closure or sale) Introduce new initiatives to support your employee value… Invest in new premises Obtain/seek specialised turnaround or restructuring advice Re-finance Acquire a new business Make formal appointment over business (e.g.,… None of the above
- 15. Trends over time – 12 months 40% 28% 27% 25% 22% 20% 17% 15% 7% 6% 6% 5% 5% 5% 2% 17% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Acquire new customers Grow profits Grow revenue Introduce new products or services Hire new staff Invest in new technology Invest in marketing Invest in new plant or equipment Introduce new initiatives to support your employee value… Invest in new premises Re-finance Acquire a new business Exit the industry (e.g., orderly closure or sale) Obtain/seek specialised turnaround or restructuring advice Make formal appointment over business (e.g.,… None of the above
- 16. Where is this confidence coming from?
- 17. What was wanted from the Budget? 23% 13% 22% 44% 30% 15% 38% 45% 32% 29% 35% 41% 39% 42% 46% 28% 35% 44% Total Micro Small Medium Metro Non-metro Will the 2016-17 Budget include measures beneficial to business operations? Yes I’m not sure No
- 18. What did you get from the Budget? 2% 2% 0% 3% 2% 2% 10% 6% 15% 15% 12% 8% 62% 64% 61% 57% 63% 60% 22% 23% 22% 20% 20% 24% 4% 5% 2% 5% 3% 5% Total Micro Small Medium Metro Non-metro The Federal Budget announced in May this year – how has it impacted your business? A significant positive impact A positive impact No impact
- 19. What affects Confidence? 3% 3% 2% 2% 2% 2% 27% 22% 16% 10% 9% 5% 56% 61% 54% 62% 62% 70% 9% 10% 21% 22% 19% 18% 4% 4% 8% 4% 9% 6% Recent interest rate cuts The re-prioritisation of the small business portfolio by the Federal Government The falling Australian dollar The Federal Budget announced in May this year The election of the ‘slim majority’ Turnbull Government The threat of Australia’s AAA credit rating being downgraded Attitudes to the impact of Australian political and economic events on business - overall A significant positive impact A positive impact No impact A negative impact A significant negative impact
- 20. Brexit, Terrorism, Refugees and the US Election
- 21. Attitudes to the impact of international political and economic events 2% 2% 1% 1% 1% 1% 5% 7% 4% 7% 5% 6% 49% 64% 73% 77% 82% 81% 38% 25% 17% 13% 10% 9% 5% 3% 6% 2% 2% 2% General market volatility The slowdown of China’s economy Terrorist activity The upcoming US elections Humanitarian issues (e.g., refugee crisis in Europe) Brexit (UK exit from the European Union) A significant positive impact A positive impact No impact A negative impact A significant negative impact
- 22. Not much faith in the Turnbull Government 2% 1% 1% 3% 1% 2% 15% 14% 17% 15% 12% 17% 38% 37% 39% 40% 43% 33% 27% 26% 28% 27% 27% 26% 19% 22% 15% 16% 16% 22% Total Micro Small Medium Metro Non-metro Expectations of the Turnbull government to address issues affecting SMEs Very high expectations High expectations Neither high nor low expectations Low expectations Very low expectations
- 23. Not much faith in the Turnbull Government -quotesChaos. Micro, Brisbane Constant bickering between the parties over non-significant issues, and not much real action on anything. Micro, other Queensland Ditching the obsession with same sex marriage and getting on with reducing burdens on small business. Small, other Queensland I'm afraid not much. The lack of a Senate majority is going to be a significant issue in terms of moving forwards. Medium, other Victoria Little - no decisions made as majority is too slim. Small, Brisbane The leader of the country needs to have courage and to have some people not like them for the good governing of this country... turning over leaders and not letting them complete term is a great distraction for polls and ratings only… these people need to be in term for the whole 9 yards to make any small improvement to this country. BTW it is in such disarray it need stability which we have not had the past ten (10) years and I feel we are a laughing stock and not taken seriously on the world stage. Micro, Melbourne The senate not being an obstruction to the government in getting the budget under control. The Senate to do its job with the Australian economy and what is good for Australia as its focus and get rid of stupid political self interest. Micro, other NSW They move very little really, every change costs us more for services and goods, then there is more rules and changes to try to keep up with. Micro, other NSW To follow through with the promises. he needs to go back to the parties conservation roots this will encourage small business. Try and get the company tax cuts through the senate and to push the building regulation policy through. Small, other Queensland
- 24. The life of an SME
- 25. Age of the Business 17% 23% 13% 11% 14% 21% 30% 27% 37% 31% 35% 26% 52% 51% 51% 59% 52% 53% Total Micro Small Medium Metro Non-metro 0-4 years 5-10 years 11+ years
- 26. Describes their business as a start-up 25% 27% 26% 21% 30% 20% 75% 73% 74% 79% 70% 80% Total Micro Small Medium Metro Non-metro Yes No
- 27. Founders and Sole Founders 19% 27% 16% 4% 21% 16% 28% 37% 22% 13% 24% 31% 54% 36% 62% 83% 55% 53% Total Micro Small Medium Metro Non-metro Is the founder of their business Sole founder Joint founder Neither
- 28. Age of Sole Founders 38 41 33 30 38 38 Total Micro Small Medium Metro Non-metro
- 29. Previous involvement in other businesses 2%2% 11% 43%42% 10 or more6-94-52-31 only The number of businesses previously involved in on a senior/decision- making level
- 30. Previous involvement in other businesses that have failed? 84% 5% 8% 2% 2% No Yes, after less than 1 year Yes, after 1-5 years Yes, after 5-10 years Yes, after more than 10 years If that business failed (previously involved in more than one business)
- 31. Competition. Small, Queensland Director of the company taking money out of business and not replacing. Medium, Melbourne Disinterest of bankers. Micro, SA Economic downturn. Medium, Hobart Foreign imports. Micro, Melbourne Cyclone/fruit fly Small, Queensland Government contracts that were tendered for not being renewed. Medium, Sydney GOVERNMENT tariff changes. Micro, Brisbane Increased government charges and taxes. Micro, Melbourne Inflation. Micro, Queensland It went bankrupt and we lost all of our money. Medium, other NSW Lack of customers. Medium, Darwin Lack of trade. Micro, NSW Over extended in technology. Micro, Queensland Poor management. Micro, Canberra Slow economy. Medium, Perth We did not anticipate market change quick enough and faced demand dropped too quickly. Micro, NSW We moved out of the city area and postal rates were too high. Micro, Queensland Withdrawal of vital contracts, product not sufficiently developed. Small, Sydney
- 33. Risk Management 34% 21% 34% 56% 36% 31% 13% 11% 14% 17% 14% 12% 53% 69% 52% 26% 50% 57% Total Micro Small Medi um Metr o Non- metr o Yes I’m not sure No 38% 34% 23% 21% 14% 14% 13% 13% 12% 11% 9% 8% 8% 7% 7% 6% 5% 10% 0% 10% 20% 30% 40% 50% Competitors Economic volatility Reputation Lack of stable, long-term… Information technology… Bad debt Employee resignation Natural disasters Having a successor for the… Employee injury Premise leasing… Lack of supplier choice Banking / financier… Security of document storage Relationships with creditors Continuity of finance… Under insurance Another risk Do you have a formal Risk Management process? The top business risks for SMEs
- 34. Extent to which each area of the organisation is challenging and time consuming 48% 35% 23% 21% 18% 17% 16% 51% 22% 14% 26% 21% 19% 8% The active daily management of the business Accounting Marketing/PR Bookkeeping Administration IT support Human resources Most Challenging Most time consuming
- 35. Describing technology use in the organisation 13% 40% 10% 17% 20% We are very tech savvy and we proactively look for new and innovative technology to apply to our business practices We keep abreast of new technologies relevant to us, but it’s not a core focus of our growth We want to integrate new techonologies into our business, but don’t have the resources to do so When we need a new technology solution, we will research and adopt We don’t take much intereset in new technology and wouldn’t describe ourselves as innovative
- 36. Interest in attracting foreign investment 2% 2% 1% 1% 3% 5% 2% 3% 11% 6% 3% 9% 5% 11% 16% 13% 6% 13% 10% 16% 13% 14% 11% 72% 80% 68% 59% 63% 80% Total Micro Small Medium Metro Non-metro Extremely interested Very interested Moderately interested Somewhat interested Not at all interested
- 37. Strategies for funding retirement
- 38. Strategies for funding retirement 57% 43% Has a strategy in place to fund retirement Yes No 48% 52% Confident in ability to afford their desired lifestyle after retirement (all respondents, n=328) Yes No 38% 35% 28% 25% 21% 19% 13% 11% 10% 3% 9% 0% 5% 10% 15% 20% 25% 30% 35% 40% Rely on my savings Use income from rent or other investment dividends Use my age pension Sell my current house and move into a smaller one (i.e.,… Sell my business Sell my investments Buy annuities (lifetime or fixed Partially sell my business (e.g. find an equity partner) Use an inheritance Sell my house and rent instead Other Type of strategy for funding retirement
- 39. Level of awareness of the proposed changes to Australia’s superannuation system in the 2016-17 Federal Budget 9% 8% 8% 11% 12% 6% 41% 38% 41% 45% 42% 39% 33% 39% 30% 25% 30% 37% 17% 15% 21% 19% 16% 19% Total Micro Small Medium Metro Non-metro I have been following this issue closely and know a lot about the proposed changes I am aware that changes are being discussed, and have a rough idea of what they are I have heard that changes are being discussed, but I don’t know much about what they are I didn’t know that there were any proposed changes
- 40. Opinion of the proposed superannuation changes - overall 5% 3% 5% 3% 11% 13% 9% 9% 15% 13% 10% 13% 11% 19% 9% 10% 47% 40% 56% 55% 11% 12% 10% 10% Introducing a $500,000 lifetime cap for non-concessional contributions Lowering the superannuation concessional contributions cap to $25,000 per annum Requiring those with combined incomes and superannuation contributions greater than $250,000 to pay 30 per cent tax on their concessional contributions, up from 15 per cent Introducing a $1.6 million superannuation transfer balance cap on the total amount of superannuation that an individual can transfer into retirement phase accounts Extreme impact on me High impact on me Moderate impact on me Some impact on me No impact on me I'm not sure
- 41. Opinion of the proposed superannuation changes – Introducing a $500,000 lifetime cap for non- concessional contributions 5% 5% 6% 4% 6% 4% 11% 11% 5% 20% 15% 8% 15% 8% 20% 24% 17% 13% 11% 10% 14% 11% 12% 10% 47% 57% 40% 32% 35% 58% 11% 9% 16% 9% 14% 8% Total Micro Small Medium Metro Non-metro Extreme impact on me High impact on me Moderate impact on me Some impact on me No impact on me I'm not sure
- 42. Opinion of the proposed superannuation changes – lowering the superannuation concessional contributions cap to $25,000 per annum 3% 4% 5% 0% 6% 1% 13% 7% 17% 20% 14% 11% 13% 9% 14% 21% 16% 11% 19% 20% 17% 16% 19% 18% 40% 48% 31% 33% 32% 49% 12% 11% 16% 9% 14% 10% Total Micro Small Medium Metro Non-metro Extreme impact on me High impact on me Moderate impact on me Some impact on me No impact on me I'm not sure
- 43. Opinion of the proposed superannuation changes - requiring those with combined incomes and superannuation contributions greater than $250,000 to pay 30 per cent tax on their concessional contributions, up from 15 per cent 5% 4% 3% 9% 7% 3% 9% 7% 10% 13% 9% 10% 10% 5% 14% 17% 13% 8% 9% 11% 6% 9% 10% 8% 56% 67% 51% 39% 50% 62% 10% 5% 16% 12% 11% 9% Total Micro Small Medium Metro Non-metro (n=167) Extreme impact on me High impact on me Moderate impact on me Some impact on me No impact on me I'm not sure
- 44. Opinion of the proposed superannuation changes - Introducing a $1.6 million superannuation transfer balance cap on the total amount of superannuation that an individual can transfer into retirement phase accounts 3% 4% 1% 5% 4% 2% 9% 4% 11% 16% 11% 7% 13% 10% 13% 21% 16% 10% 10% 9% 9% 13% 13% 7% 55% 67% 48% 35% 45% 64% 10% 7% 17% 9% 11% 9% Total Micro Small Medium Metro Non-metro Extreme impact on me High impact on me Moderate impact on me Some impact on me No impact on me I'm not sure
- 45. Has implemented The Australian Tax Office’s SuperStream system 32% 31% 36% 29% 34% 30% 26% 17% 29% 43% 23% 29% 42% 52% 36% 28% 43% 41% Total Micro Small Medium Metro Non-metro Yes I'm not sure No
- 46. The impact of implementing SuperStream on business - overall 26% 10% 2% 38% 25% Savings in time spent on superannuation Savings in resources allocated to administering superannuation Other impacts No impacts Too soon to tell
- 47. SMSF use 25% 75% Has an SMSF Yes No 67% 34% 7% 1% 2% I manage it myself Financial adviser Family member Friend Someone else The person who manages their SMSF
- 48. Working with our clients on their business
- 49. Case study • ‘Client A’ is a service based company • Operating in Perth for 10 years • And they have been a Taxation & Business services client for 10 years • The challenge: Falling profits • Our solution: Develop a budget and make a plan based on the figures
- 50. What is the cash flow story? By understanding the ‘financial story’ of your business: • Make informed strategies to improve your business and • Review the impact that changes to key drivers have on your profit, cash flow and the value of your business.
- 52. What is the cash flow story?
- 54. Why is a 3-way forecast needed? • Don’t drive your business blindfolded • Easier to gain funding from a lending institution • Helps in working out what needs to be done to achieve desired results
- 58. KPI Dashboard
- 59. KPI Dashboard
- 60. Bentleys Mentoring • Tell your cash flow story • Get control of your numbers • Make informed decisions • Design a better future for your business • Inspire, guide and give advice
- 61. QUESTIONS?
Editor's Notes
- INTRO 5TH VOICE GREAT DEAL OF INFO CAN ONLY TOUCH THE SURFACE HAPPY TO MAKE AVAILABLE OR COME AND TALK TO YOUR STAFF WHAT IS THE VOICE? – A QUICK REMINDER
- LONG TERM SME C SUITE WHY
- DATA IS INTERESTING TEMPTING TO TRY TO MAKE CONCLUSIONS BUT STARTING TO SEE REAL TRENDS AND OBSERVATIONS WILL COVER SOME OF THOSE FOR US IT IS ABOUT HAVING SOMETHING TO OFFER SO WHAT QUESTIONS DID WE ASK?
- WE HAVE KEPT THEMES OF BC AND TECH BUT IN THIS ONE WHILE SOME GOOD SUBJECT MATTER CONCENTRATED ON THE LIFE ON AN SME WANTED TO GAIN AN UNDERSTANDING OF SOME KLEY DAY TODAY ISSUES EG -AGE OF BUS – HOW MANY PREVIOUS BUSINESES WHAT IS AN SME
- WE KNOW HOW MANY THERE ARE WE KNOW THAT THEY ARE THE BACKBONE OF AUS BUSINESS BUT WHAT ARE THEY? SME ACRONYM– ACTUALLY DOE NOT COVER THE MICRO WE USE THE SIZE MEASURE DEFINITIONS
- TALK THROUGH NOT GOING TO GO TO TURNOVER – ALSO REMIAN AT MED-200 TO STAY CONSISTENT DATA BY SIZE AND LOCATION
- BY SIZE -IE S M OR MIC AND BY LOCATION – METRO – CITY NON METRO SO WHAT DID WE LEARN FROM VOICE 5?
- SIZE MATTER BUT MICRO AND SMALL ALSO MORE CONFIDENT PROFITS CASH FLOW AND GROWTH MAIN GOALS FIN REPORTS AND EXTERNAL ADVICE – MED SMALL/MICRO INFLUENCED BY OTHERS TECH NOT BEING OPTIMISED THE TRUMP FACTOR TURNBULL NOT HITTING THE MARK SUPER SME ENVIRONMENT
- GROUPING A FEW DIFFERENT SUBJECTS IN TO SME ENVIRONMENT
- STARTING TO SEE A SMALL BUT NOTICABALE COMPARISON SLIDE CONFIDENCE RECOVERY POINT OUT CHANGES – TOP END CHANGES BOTTOM END THIS CONF EXTENDS TO NEXT 12 MONTHS
- JUSST V 5 WHAT IS INTERETSING ABOUT THIS SLIDE IS MOST FIGURES THE SAME USUALLY M OUTSTRIPS MICRO METRO OUTSTRIPS NON METRO HIGHEST FIGURES SO FAR SO WHAT IS THIS CONFIDENCE GOING TO BRING?
- TALK THROUGH CONFLICTING IN SOME CASES BUT THIS IS THE CLASSIC EXAMPLE OF A TOUCH POINT WHAT DO WE MEAN BY A ‘TOUCH POINT’
- ENABLES A CONVERSATION GIVES TRUSTED ADVISOR KNOWLDEGE ABLE TO GUIDE AND ADVISE THIS IS WHAT OTHER BUSINESESS ARE DOING ALSO LETS US MONITOR THE CHANGES/TRENDS
- NOTE THESE CHANGES ONE YEAR ON POSSIBLE MORE INTERESTED IN MORE TANGIBLE ONES TECHNOLOGY – BUT NOT SEE MUCH OF A CHANGE HERE MORE ON THIS LATER WHERE IS THE CONFIDENCE COMING FROM?
- THE DATA SHOWS A SMALL RISE IN CONFIDENCE CHANGES IN SOME BUSINESS OBJECTIVES SO WHERE IS IT COMING FROM? WAS IT THE BUDGET?
- WE ASKED THS QUESTION IS VOICE 4 FEELING SMALL MICRO-NOT POSITIVE VOICE 5 ASKED WHAT DID YOU GET?
- EXPECTATIONS WERE LOW RESULTS WERE LOW MORE ON TURNBULL GOVT LATER SO WHAT DOES AFFECT CONFIDENCE IN SMES
- TWO MAIN FACTORS INTEREST RATES SMALL BUS PORTFOLIO CHANGE BUDGET AND TURNBULL LOW BUT WHAT ABOUT THE WIDER GEO POLITICAL?
- WITH HEADLINES ABOUT TRUMPS POLICIES US REACTION GLOBAL TERRORISM BREXIT MIGRATION CRISIS SO WHAT FOR AUS SMEs?
- KEY ASPECTS HERE ARE RED AND GREY TERRORISM RANKS ABOVE TRUMP BREXIT IS HARDLY RELEVANT REFUGEES ARE SEEN ON TV AUS SEEMS TO BE FOCUSED ON INTEREST RATES AND SMALL BUS CHANGES LETS LOOK AT TURNBULL
- EXPECTATIONS THAT WILL ADDRESS MAIN ISSUES TALK THROUGH SIMILAR FOR ALL S-M-M 17% HIGH – 46% LOW –FAIRLY DAMNING QUOTES REINFORCE THIS
- HIGHLIGHT ONE OR TWO LOOK AT SOME INTERESTING FACTS AND FIGURE REF SMES
- WE WANTED TO KNOW AGE, START UP STATUS WHAT TAKES UP TIME AND IF BEEN INVOLVED IN OTHER BUS LOOK AT AGE
- 47 % OF BUS LESS THAN 10 YEARS 17% LESS THAN 4 YEARS MICRO AND NON METRO DOMINATE THE 0-4 YEARS THIS TIME WE ASKED ABOUT STARTUPS
- BY START UPS –THREE MAIN CRITERIA CHOSEN TO GROW FAST RELATIONSHIP WITH FUNDING – RELY ON CAPITAL EXIT STRATEGY IN BUS PLS –IN IT FOR A RETURN NOT MUCH DIFRENCE BETWEEN SIZES –BUT METRO MORE HOW WAS THE BUSINESS FOUNDED?
- EXPLAIN SLIDE IN S AND MICRO 50% FOUNDED BY SOMEONE ELSE MEDIUM AS EXPECTED MICRO –HIGHLIGHT WHAT ABOUT AGE OF FOUNDER?
- THIS SURPRISED ME THOUGHT IT WOULD BE YOUNGER AVERAGE IS 32 WHAT ABOOUT INVOLVEMENT IN OTHER BUSINESSES?
- TALK THROUGH BUT KEY QUESTION IS HOW MANY HAVE FAILED?
- SO 84% OF INVOLVEMENT OF OTHER BUSINESS WERE SUCCESSFUL FOR THAT 16% THAT FAILED WHAT WERE REASONS?
- TALK THROUGH NO SINGLE REASON BUT GIVE US AN OPPORTUNITY TO LOOK AT SOME GENERAL OBERVATIONS
- HERE WE HAVE TAKEN SOME OF THE KEY FINIDNGS BUT ALSO LINKED TO PREVIOUS SURVEYS WE HAVE SEEN FAILURES AND WHY – RISK MANAGEMENT
- WE SAW WHAT THE MOST COMMON RISK WERE – RIGHT LEFT CAN SEE THAT 51% NOT HAVE A RM PROCESS –OPPORTUNITY WHAT AREAS OF BUSINESS ARE CHALLENGING?
- WE ASKED THIS QUESTION AS WANTED TO GET A UNDERSTANDING OF DAY TO DAY CHALLENGES TALK THROUIGH YET ADOPTING TECH IS NOT A PRIORITY
- TALK THROUGH – OPPORTUNITY FOREIGN INVESTMENT MORE INTEREST THAN EXPECTED INCREASING INTEREST.
- MAJORITY NOT BUT 20 % OF MICRO 32% SMALL 41% MED – ARE INTERESTED HAND OVER TO FAB
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Talk about difference between sizes and location
- Jon gets a real buzz when he coaches a company through a particularly difficult time and sees the management success, reaching their business goals. Jon is one of the Tax and Business services directors, his focus is on SME clients and particularly the Mentoring service. Jon is a Chartered Accountant with broad industry and specialisation experience including business coaching, corporate structuring and restructuring, strategic consulting and planning and business performance improvement. In addition, he has strong taxation knowledge and utilises this knowledge by assisting his clients tackle the many taxation issues facing them in today’s business environment. Business performance improvement is a particular focus of Jon’s. He works with his clients to identify the real drivers of their business and develops strategies to focus on each businesses lead indicators of performance.
- Going to run through a real life client and show how we are utilizing our SME business insights & tools, which is translating into improved profits for our clients This is a real life case study of a Business Mentoring client The challenge: significant downturn in trading that resulted in a reduction in profit The solution: prepare a budget and 3-way forecast, allowing us to look at how a number of scenario’s would impact on the profit margin. The benefit to this client: focus their attention on the actual business and not just the day to day issues. As a result they now better understand their finances and what impact they have on the longevity of the business. A number of business improvements have been made, some more painful than others but as a result they have achieved an increase in their profits. Essentially we inspired and reinvigorated the management team and the business. Let’s look at the figures and what was achieved in more detail
- We perform a HealthCheck on the business Where you have been What are the trends What does that look like moving fwd We can give you the tools to test the effect of your decisions before you implement them. Now, this is what we do with all our SME clients when we meet with them to run over their yearly accounts Here is what we discovered with Client A when we looked at the overall ‘health’ of the business.
- Profitability KPI’s These are correct as of 30 June 2016 and we compare year to year
- Compares each Profit line item with the equivalent Cash Flow Revenue is compared to the actual Cash banked from the Sales. The Operating Profit can then be compared to the Operating Cash Flow. Here is where we can model what the impact of any changes on cash flow will be I always get asked – Great Jon I made that much revenue last year but whew is all the cash? This will show us where . .
- What is your business worth? What do you WANT it to be worth? And how do we get you that value? What is the impact of 1% changes on your cash flow and on your profitability
- Powerful and flexible 3-way budgeting, forecasting and business modelling tool. Comprehensive set of reports and fully customisable dashboards giving our clients the data and insights to confidently make the right business decisions, all based on financial facts Running your business without a budget is like getting in your car and driving with no idea of where you are going or where you want to go. Many business owners think having a budget is a waste of time often because the future is almost impossible to predict. But, if you set your budget to a desired level you can then drill down and work out what sort of things you would need to do to achieve these results. a very powerful brainstorming session with your business partners, advisors and team who will now be thinking 'outside the square'. Of course if you are looking for finance, a carefully prepared Three Way Budget & forecast will impress your financial backers
- We offer our clients a fully customizable snapshot of the business. Including relevant info for specific business Monthly updates and tracking Highlighting trends and changes that can be dealt with Our dynamic reports, include flexible up to the minute dashboards that include financial and non-financial data. Assisting everyone to stay on track and easy to spot issues and areas that need extra attention.
- This is a dashboard with more micro KPI
- Mentoring can help you think outside the box and gain new perspective on your ideas and plans By entering into a formal mentoring relationship with Bentleys you will set a clear business direction, including strategies, initiatives and goals to get you there. It’s about creating a clear view of the future and what business success means to you. It also makes you accountable. Allows you to continue with your passion We help you discover: Your KPI’s Where is the future for the business and where should efforts be focused We look at where the business revenue is coming from - is it the right mix? Is there a reliance on a few clients for the majority of income? What needs to be done to turn the issue around? Regular meetings help everyone to be accountable and complete the tasks We look at the expenses line by line – what are the variances and why? Scenario testing helps to workshop ideas and we can model the effect on KPI’s