14 things business owners should do before 2014

RSM_Bird_Cameron_Logo@2xOctober 8, 2013RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, offers 14 suggestions for business owners to think about before 2014 to improve profits, cash flow and reduce stress levels.

Andrew Graham, national head of business solutions, said, “Many industries are still experiencing difficult times. The retail sector faces challenges such as the battle for online sales, decreased consumer confidence and unemployment. Resources, mining and manufacturing are encountering challenges caused by exchange rates and the high cost of doing business in Australia.”

The latest RSM Bird Cameron thinkBIG study showed that 64 per cent of SMEs are optimistic and believe their business will grow in the next 12 months.

Graham said, “To make the most of this optimism and ensure they have a clear path to growth business owners need to have strategies in place to end the year and start the new one in the best shape possible. This will also ensure that business owners can make the most of the holiday period.”
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11 things business owners should do to start the new year in the best possible way

RSM_Bird_Cameron_Logo@2xJanuary 15, 2013RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, offers 11 suggestions for business owners to improve profits, cash flow and reduce stress levels throughout 2013.

Andrew Graham, national head of business solutions, said, “Many businesses in Australia are still facing a volatile economic climate. Some businesses have already started the new year with cash flow difficulties as the cash cycle has tightened considerably through December and into January.

“Having strategies in place to start the year in the best shape possible will help alleviate some of the pressure felt by business owners.”

Tips to get the best start in 2013

1. Review the products and services you sell and tailor the mix to appeal to changing customer needs for the holiday and new year season. Also, start considering and planning for other times in the year when customers’ needs change, for example Easter.

2. Review pricing structures to ensure competitiveness and profitability. Put formal procedures in place to monitor and proactively respond to competitor pricing changes.
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13 things business owners should do before 2013

RSM_Bird_Cameron_Logo@2xOctober 18, 2012RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, offers 13 suggestions that business owners should think about before 2013 to improve profits, cash flow and reduce stress levels.

Andrew Graham, national head of business solutions, said, “Many businesses in Australia are still facing a volatile economic climate with some industries producing record results and others struggling.

“It is important to consider the uncertainty business owners face and put plans in place to reduce that as 2013 approaches.

“Having strategies in place to end the year, and start the new one in the best shape possible, will ensure that business owners can make the most of the holiday period from a business perspective, but also on a personal level.”

Cash flow is a problem many businesses already face. As always this will be felt even more throughout the new year period as the holiday season leads to slower payment terms.

Graham said, “Business owners shouldn’t hesitate to seek help and ask advice from accountants, advisors or other specialists if they are worried about their business or managing their cash flow over the holiday period.”
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Ten things business owners can do to boost their business in 2012

RSM_Bird_Cameron_Logo@2xJanuary 31, 2012RSM Bird Cameron, one of the largest mid-tier accounting firms in Australia, suggests ten things business owners can do to improve profits, cash flow and reduce stress levels throughout 2012.

Andrew Graham, national head of business solutions, said, “There is no doubt that businesses in Australia are facing a difficult economic climate in 2012, which could lead to a potential rise in insolvenciesover the coming 12-18 months.

“Some businesses have already started the new year with cash flow difficulties as the cash cycle has tightened considerably through December and January. Now is the time for business owners to consider opportunities to restructure their business in light of what’s not working for them.

“Business owners need to remember that it is never too early to seek help and ask advice from accountants, business advisors or other specialists if they are worried about their business or managing cash flow.”

These tips can help businesses remain in the best possible shape for the year ahead:
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