This document summarizes a research report from Hanrick Curran about small to medium enterprises (SMEs). It finds that while most SMEs can produce accurate financial information, few know how their key performance indicators compare to industry benchmarks. It also reports that over half of SMEs believe staff are motivated, but only a quarter have strategies to attract, retain, and motivate employees. The document recommends SMEs focus on business planning, protecting assets, and reducing stress and improving work-life balance for owners.
12. experience. new thinking
Emerging trends
60% of SMEs can produce accurate
financial information on their sales,
costs and profit margins.
However, only 22% of SMEs knew
how their business’s key performance
indicators compared to industry
benchmarks.
2
Improving
Efficiency
13. experience. new thinking
Emerging trends
55% of SMEs believe their staff are
motivated to grow their business.
However, only 26% of SMEs have
strategies in place to attract, retain
and motivate staff.
3
Working
Smarter
14. experience. new thinking
Emerging trends
1. Business Planning
a) Only I in 5 respondents have a documented business
Plan
b) One third of respondents were focussed on improving
business value
c) 73% of owners wanted to benchmark their business
d) 87% of owners felt immediate growth planning was
important
2. Protecting the Business and Family Assets
a) 53% of owners had no understanding of Estate
Planning
b) Asset Protection is up from #5 in last year’s survey
c) De-Risking the business is a strong emerging trend
3. Stress and Lifestyle
a) Only 27% of Business Owners believed their business
could operate without them
b) Less than half of the respondents (owners) stated
that they spend enough time with their family.
20. experience. new thinking
1. Don’t know what we need or what’s available
2. Don’t know where to find expert help
3. Concern about the cost
Barriers to getting started
24. experience. new thinking
Thank you
Angela Winton
Director
angela.winton@hanrickcurran.com.au
Stephen Brake
Partner
Stephen.brake@hanrickcurran.com.au