10 Financial Red Flags Every Business Owner Should Monitor
Running a business comes with its fair share of financial challenges. While growth and profitability are the goals, businesses can easily face financial distress if certain warning signs go unnoticed. Recognising financial red flags early can help business owners take timely action, avoiding severe issues like insolvency or business closure. Here are the key indicators of financial distress that every Australian business owner should monitor closely, along with tips on how to track them effectively.
Rising business failure rate in Australia: challenges and outlook
Australian businesses are navigating a challenging economic landscape marked by rising costs, slowing growth, and increased regulatory scrutiny. The confluence of these factors has created a perfect storm that is pushing many businesses to the brink of insolvency. As the nation grapples with these headwinds, it is imperative to understand the underlying causes and their potential impact on the broader economy.
Solid Foundations: Protect Your Construction Business in Challenging Times
The Australian construction industry faces significant challenges in today’s economic climate, especially for small and medium businesses. With high-profile cases like the liquidation of Cubitt’s Granny Flats and Home Extensions, construction business owners can gain insights into how to strengthen their own foundations.
Proactive Steps To Strengthen Resilience for Businesses in the Building & Construction Industry
Australia’s building and construction sector has been hit hard post-COVID-19, facing a surge in business insolvencies amidst a disruptive economic climate. As the headwinds persist, the sector continues to grapple with unique challenges that highlight the critical importance of proactive financial management. In this article, we explore how small and medium businesses (SMBs) in the sector can take steps to avoid financial pitfalls and safeguard their business’s future.
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.
