RSM Bird Cameron advises business owners to be proactive in a rapidly-changing sales environment

RSM_Bird_Cameron_Logo@2xNovember 28, 2013 – There is a significant shift happening in business-to-business (B2B) sales that will have a major impact on business and the wider economy according to RSM Bird Cameron.

Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “Evolving consumer buying behaviours and preferences are changing the face of how business approaches its selling function. Gone are the days of business owners simply waiting to take orders from customers as decreased consumer demand leaves a gaping void.

“As a result, business owners are less optimistic about their medium-term prospects and the success of their business. This is demonstrated by the findings of thinkBIG 2013, which showed Australia’s difficult economic conditions are continuing to take a toll with business owners in general feeling their business is less successful than in 2012.”

“The most successful businesses will be those that address the rapidly-changing sales environment by recognising growth opportunities, ensuring due diligence and financing is appropriate and engaging their workforce to drive productivity.”
Read more ❯

12 things business owners should complete before 2012

October 25, 2011RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, offers 12 things business owners should complete before 2012 to improve profits, cash flow and reduce stress levels.

Andrew Graham, national head of business solutions, said, “Many businesses in Australia are again facing a volatile economic climate, and there is no doubt that an economic downturn could spell the end for some businesses.  This is demonstrated by a surge in insolvencies and the appearance of increased activity by the ATO in collecting long-standing tax debts.

“With this in mind there is a very real possibility many businesses will start the new year facing increased cash flow difficulties or just managing to get by, instead of looking at ways to strengthen and grow the business.”

Cash flow is already being stretched, and as always this will be felt even more throughout the new year period as the holiday season leads to payment terms being slowed beyond the delays businesses are already seeing. Read more ❯

RSM Bird Cameron says business owners must ask more of their accountants in tough times

October 17, 2011RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, says business owners must ask more of their accountants in tough times.

Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “It is easy to have accountants for many years that do the basics well – but not fully realise the value they should be offering beyond that. Or sometimes a business simply outgrows their existing accountant in terms of what they need and what can be offered.

“The depth of experience your accountant has, and the advice they can give, is vital to the success of your business, and should be a resource you can call on. This is particularly important as many businesses face an uncertain economic future.

“Most accountants provide basic retrospective analysis on the numbers given to them, coupled with some compliance, tax and super advice. The best accountants offer real practical business advice on how to effectively operate, manage and grow the business.” Read more ❯

RSM Bird Cameron highlights symptoms business owners should watch for to avoid insolvency

September 8, 2011RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, highlights symptoms business owners should watch for to avoid insolvency.

According to RSM Bird Cameron the most common causes of insolvency include:
* under capitalisation
* poor financial control including maintaining inadequate records
* poor debtor management
* poor strategic management
* inadequate cash flow or inefficient cash use (cash burn rate)
* natural disasters or other unplanned business interruptions
* fraud
* director disputes
* trading losses
* economic downturn
* industry restructuring.

Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “It is important for businesses to be aware of the signs of distress before it is too late. By closely monitoring your business it may be possible to turn things around in time.

“Even more important is for businesses to have controls and processes in place to prevent the business becoming distressed in the first place. This includes financial, production, organisational, and marketing controls.” Read more ❯

SME owners still optimistic but not retiring any time soon

Perth, July 6, 2010 – Accounting firm RSM Bird Cameron’s fourth thinkBIG benchmark study into Australia’s small-to-medium enterprises (SMEs) found that, for the second year in a row, one in five SME owners have delayed their exit date from their business because of economic uncertainty.

Business owners reported little change in their plans to exit the business from 2009, with more owners expecting to continue working after they dispose of their business compared with three years ago.

According to the study, SME owners are quite optimistic about their business’s medium-term prospects but remain concerned about cashflow management and continue to be more aware of the stress associated with managing their business.

More than half of business owners in the thinkBIG study do not expect to see any improvement in the availability of finance in the short term, underlining continuing uncertainty in the sector.

“thinkBIG found that business owners faced tougher trading conditions over the last two years, with nearly a third recording no revenue growth or a decline in revenues, up from the 2009 result,” said Terry Rodoni, director, Business Solutions, RSM Bird Cameron Read more ❯

RSM Bird Cameron offers 10 tips for business owners to get done before the Christmas rush

Perth, December 3, 2009 – RSM Bird Cameron urges business owners to spring clean their business before the silly season hits to reap immediate benefits by improving profits, cash flow and reducing stress levels.

RSM Bird Cameron’s top 10 things for business owners to do before the Christmas rush:
1. Review product and service offerings and tailor the mix to appeal to the changing customer needs over the Christmas buying period and the following holiday phase
2. Review pricing structures pre and post Christmas to ensure competitiveness and profitability. Put formal procedures in place to monitor competitor pricing changes and respond proactively
3. Review stock levels to ensure you can satisfy customer demand for profitable product and service lines, and identify slow moving stock that can be liquidated as “bargain buys” or bundled into gift packages
4. Review sales, marketing and promotion plans for the pre and post Christmas periods and arrange the implementation phase before getting too busy. Ensure all staff are aware of the sales targets for each week and be proactive in addressing shortfalls Read more ❯