Business Services

Small business owners are optimistic, and the overwhelming majority (92%) enjoy being in their own business even in the current economic climate according to Bstar Small Business Research Report. Across all industries, business owners believe there are opportunities to grow their business, and 79% are focussed on growth in their business. But they don’t really know if this optimism is justified. They spend little to no time assessing their own performance or planning. The challenge is not in starting a business - there are around 250,000 new businesses started every year, and approximately 75% survive their first year. The real challenge occurs in staying in business, particularly in expanding and growing the business. Business owners want to improve and grow their business, but they don’t know how to do it.

Why do small and micro businesses fail?
Small and micro businesses fail for three main reasons:

1. lack of strategic and business planning – only 1 in 4 had prepared a formal business plan;
2. limited business and financial management skills - 71% of businesses surveyed don’t invest in developing their own business and management skills;
3. when they take external professional advice, it isn’t centred on their 4 top business needs.

Without strategic and business planning, business success and growth is accidental, and many businesses with great potential fail. The most common nominated cause of corporate failures is a lack of strategic planning. Business owners need to spend time working on their business, not merely working in the business – only 1 in 4 allocate regular time to strategic and business planning. The evidence is clear that business owners lack the knowledge and skills to grow and improve their businesses, and they spend little or no time planning or reviewing business performance. More than 70% of business owners would like the opportunity to compare their business performance to their industry peers. If they are to thrive, not just survive, business owners require skills in business and financial management – particularly planning, and financial knowledge. Without the skills themselves they need external help and hands on support to implement the necessary improvements.

We can help you by providing the following services:

• Business development
• Implementation of systems and processes
• Business plans
• Buying and selling of business
• Business valuations
• Succession planning
• Business analysis and monitoring of Key Performance Indicators