Managing risk: lessons for small business owners
As the owner or manager of a small or medium-sized enterprise (SME) in Australia, it’s easy to dismiss the collapse of a major finance firm like Greensill Capital as irrelevant to your business. However, this high-profile corporate failure offers valuable insights that can help you bolster your financial health and manage small business debt effectively.
Unlocking resilience for FMCG businesses in a changing market
The recent events surrounding HS Fresh Food, a major supplier to Coles, Woolworths and IGA, offers valuable insights in managing financial pressures and operational risks. In this article, we explore how small and medium-sized business owners (SMBs) can glean critical lessons from this case study, focus on overcoming challenges, as well as enhance business resilience through proactive strategic planning with the right advice.
Retail resilience: key takeaways from an audio-visual giant’s administration
The recent events surrounding Life Style Store, a long-standing player in Australia’s audio-visual retail market, offers valuable lessons for business owners and directors across various sectors. During one of the toughest periods for businesses in more than a decade, this case study presents an opportunity to explore the complexities of modern retail operations and discuss strategies for maintaining business health in challenging times.
Financial management for entrepreneurs and start-ups founders: lessons from E-Mersion Media
E-Mersion Media, a Melbourne-based tech start-up with global aspirations and reported relationships with the likes of FIFA, sought to take traditional print magazines into the digital era. Despite its promising beginnings, the company faced significant financial challenges which led to its eventual collapse. Here, we explore critical takeaways in financial management for entrepreneurs and start-up founders, including mistakes to avoid.
Navigating growth and change: insights for Australian businesses in a dynamic economy
The Australian Bureau of Statistics (ABS) has released its latest Counts of Australian Businesses, including Entries and Exits data, which reveals interesting findings about the state of the country’s business landscape. Drawing on these insights, as well as our deep understanding of the challenges faced by business owners, we explore how small-to-medium enterprises (SMEs) can address today’s challenges, find opportunities, as well as strengthen their position in a changing economic environment.
Avoiding financial blind spots: tips for small businesses in building and construction
The volatile economic environment for Australia’s building and construction industry remains a significant concern for small business owners. The survival of smaller construction businesses and subcontractors, in particular, will depend on effective financial management, strategic planning, as well as further government support post-pandemic to navigate these difficult times.
Feeling the pinch? How the latest CPI data impacts your small business
The recent release of the Consumer Price Index (CPI) data by the Australian Bureau of Statistics (ABS) for the June quarter of 2024 (Q4 FY24) sheds light on the current economic climate and its implications for small and medium businesses (SMBs) in Australia.
As a business owner, understanding these insights is crucial for making informed decisions and adapting to the evolving economic landscape.
Essential cash flow tips every small business owner should know
More and more Australian business owners are feeling the impact of tighter cash reserves and rising costs. In the current economic climate, it is imperative to face cash flow issues early to avoid financial distress.
Demystifying debt restructuring for small and medium business owners
As a small business owner or director, navigating financial challenges can be a daunting and stressful experience. When faced with mounting debt and cashflow problems, it’s crucial to understand the various debt restructuring options available to you.
Thriving one day, insolvent the next: the collapse of a 50-year-old business
The recent collapse of Pact Services Group, a Victorian-based business consisting of eight companies, has left over 100 creditors owed more than $2 million. The group, which had been operating for nearly 50 years, specialised in solar, heating and air conditioning services.
