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The Australian business population is ageing with a major succession issue quickly approaching yet very few baby boomer business owners are positioned for exit.
Twenty two per cent of business owners are aged 60 and over, which means hundreds o...
Chinese business visitors set to benefit from multiple entry visas
Joint media release
The Hon. Andrew Robb MP, Minister for Trade and Investment
The Hon. Scott Morrison MP, Minister for Immigration and Border Protection
7 February 2014
Chinese business visitors and our tourism sector will benefit from increased flexibility offered b...
Part 1 Understanding financials
Taking the time to understand your financial documents will give you more control and a clearer picture of your business and how it’s performing. The profit and loss statement and the balance sheet are the two basic financial documents that give you this information.
As a business owner, learni...
Updating the plan
Finally, recognise that economies, markets and your business itself keep changing – sometimes favourably, sometimes unfavourably. This means you need to review your plan at least once a year. How well have you done? Have you met the benchmarks in the plan? Revising and updating your plan will keep it relevant ...
Consider including a one-page analysis of Strengths, Weaknesses, Opportunities and Threats in your business plan, for example:
•Strengths might include brand name, quality of product, or management.
•Weaknesses might be lack of finance or dependency on a few customers.
•Opportunities might be increasin...