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SME Insights Presentation

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On 28 August 2018, Hanrick Curran Director, Angela Winton and Partner, Stephen Brake presented at the Hills and District Chamber of Commerce on SME Insights.

The presentation covered emerging trends, opinions and concerns faced by business owners as highlighted in the SME Research Report for 2017/18. Attendees gained insights around how fellow SME’s are surviving and thriving in the current business climate.

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SME Insights Presentation

  1. 1. experience. new thinking SME Insights Small to Medium Enterprises Research Report Angela Winton & Stephen Brake
  2. 2. experience. new thinking About us  Established in 1984  Over 120 staff  Multi-disciplined www.hanrickcurran.com.au
  3. 3. experience. new thinking About us
  4. 4. experience. new thinking SME Research Report
  5. 5. experience. new thinking Executive Summary
  6. 6. experience. new thinking
  7. 7. experience. new thinking Business Sale
  8. 8. experience. new thinking Emerging trends
  9. 9. experience. new thinking 1 De-risking the Business
  10. 10. experience. new thinking Emerging trends
  11. 11. experience. new thinking Emerging trends
  12. 12. experience. new thinking Emerging trends 60% of SMEs can produce accurate financial information on their sales, costs and profit margins. However, only 22% of SMEs knew how their business’s key performance indicators compared to industry benchmarks. 2 Improving Efficiency
  13. 13. experience. new thinking Emerging trends 55% of SMEs believe their staff are motivated to grow their business. However, only 26% of SMEs have strategies in place to attract, retain and motivate staff. 3 Working Smarter
  14. 14. experience. new thinking Emerging trends 1. Business Planning a) Only I in 5 respondents have a documented business Plan b) One third of respondents were focussed on improving business value c) 73% of owners wanted to benchmark their business d) 87% of owners felt immediate growth planning was important 2. Protecting the Business and Family Assets a) 53% of owners had no understanding of Estate Planning b) Asset Protection is up from #5 in last year’s survey c) De-Risking the business is a strong emerging trend 3. Stress and Lifestyle a) Only 27% of Business Owners believed their business could operate without them b) Less than half of the respondents (owners) stated that they spend enough time with their family.
  15. 15. experience. new thinking
  16. 16. experience. new thinking Popular Advisory Solutions
  17. 17. experience. new thinking The Better Business Program
  18. 18. experience. new thinking https://www.youtube.com/watch?v=23sH6toTs5Y
  19. 19. experience. new thinking Sessions for Success
  20. 20. experience. new thinking 1. Don’t know what we need or what’s available 2. Don’t know where to find expert help 3. Concern about the cost Barriers to getting started
  21. 21. experience. new thinking 10 question Business Improvement Survey How to get started
  22. 22. experience. new thinking Grant Funding to support business growth
  23. 23. experience. new thinking
  24. 24. experience. new thinking Thank you Angela Winton Director angela.winton@hanrickcurran.com.au Stephen Brake Partner Stephen.brake@hanrickcurran.com.au
  25. 25. experience. new thinking This document contains information in summary form and discusses proposed but not legislated rules and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgement. It does not purport to be comprehensive or to render professional advice. The reader should not act on the basis of any matter contained in this publication without first obtaining specific professional advice. We believe that the statements made by us in this document are accurate but no warranty of accuracy or reliability is given. Our conclusions are based on interpretations of accounting standards and other relevant professional pronouncements and legislation current as at the date of this document. Should the interpretations, accounting standards, other relevant professional pronouncements or legislation change, our conclusions may not be valid. © Hanrick Curran, 2018 All rights reserved Disclaimer

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