Recently a friend sent me an article, she thought I would enjoy reading. It raised two important issues for me. As advisors we have so much experience, we know what works well and what doesn’t. We can assist businesses…
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Entrepreneurial spirit is one of the key drivers in a family business. Much of this spirit is comprised of self-motivation or inner drive and the need to follow a passion. Entrepreneurs are by nature innovative, creative, and risk takers. But,…
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Most people love to go to the hairdressers to be pampered. To have some “me” time or the amazing head massages. Catch up on all of the aged gossip magazines! But my interest in family business, I am keen to…
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With less than 30% surviving to the third generation, family businesses face unique challenges if they are to thrive into the future. Despite successful beginnings, family businesses do at times struggle. This is sometimes a result of second and…
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Too much too soon: In a small suburban garage a mother and a father began building their business. Mum tested new recipes while Dad made the product and drove around distributing it. Even when the business moved to a…
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If you’ve read anything about accounting software in the past year, odds are you’ll have come across references to cloud technology. So what is cloud technology and what potential does it offer you and your business? Accounting software with…
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Increasing innovation is one way Australian family businesses can remain a step ahead of their competitors and position themselves as unique. In a global market where technology and ability to adapt quickly are paramount, simply keeping up with your…
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Only about 30% of family-owned businesses survive into the second generation; 12% are still viable into the third generation. Only about 3% of all family businesses operate into the fourth generation or beyond, according to research by the Family…
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Family businesses are often run informally, albeit with the best of intentions. Sometimes it’s that very informality that causes dissension and upheaval in the family. To ensure your business flourishes, while at the same time provides opportunities to family members,…
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A family business often starts out small – being your own boss is appealing and you take your passions from being a hobby to a vocation for the future. Adopt When you start out your accountant may suggest an…
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