May 5, 2011 – RSM Bird Cameron’s thinkBIG 2011 study has revealed that 75 per cent of Australian small to medium-sized enterprises (SMEs) expect to grow in the next two years.
This optimism comes as 73 per cent of Australian SMEs report experiencing growth in last two years, with 31 per cent reporting growth of between one and 14 per cent.
RSM Bird Cameron undertook its fifth thinkBIG research study in March 2011, benchmarking the planning practices of SME owners and assessing the impact of recent global financial conditions on businesses.
Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “75 per cent of SME owners expect their business to grow in the next two years, up from the 70 per cent recorded in thinkBIG 2010, although finding skilled people remains as the strongest barrier to growth.
“Following improved revenue growth over the last two years, SME owners appear more willing to focus on growth and using external expertise to plan their future.”
thinkBIG 2011 also shows that businesses that undertake formal business planning are more likely to grow. 80 per cent of SMEs that conducted formal business planning experienced revenue growth in the last two years compared with 60 per cent that did not plan. Read more ❯