RSM Australia

Business strategy and development

Developing a business strategy to navigate the changing environment.

New technologies and products have changed the way we do business more in the last twenty years than the previous hundred. Entire industries have arisen and disappeared in a rapidly changing environment that is still accelerating. From the corner store to a media empire, no-one is unaffected, but whoever adapts, survives and thrives.

So how do you navigate your business through interesting times?Developing a business strategy to navigate the changing environment

You have a strategy and someone by your side to help you realise it.

RSM business strategies aren’t documents that are read and filed away. They are adaptive tools that you can put to use every day to keep you focussed on your purpose, deliver on your promise, steer your business on its mission and stay true to its vision.

Business strategy isn’t just about the big picture or outward focus, we can help you with the small things that make huge differences. How to minimise waste, structure your purchasing better, read the signals in the data your business produces every day and recognise the warnings and opportunities the moment they arise.

Business strategy has to be built on good intelligence, and our network of advisers have deep expertise in specific niches as well as a broad understanding of national and local trends. What is over the horizon that is truly disruptive and what is just a fad that will have no real effect? The knowledge and experience of RSM's business advisers will help you sift the signal from the noise, help you understand all your options and assist you in actioning your business strategy.

Find your top 3 areas of business improvement

Growth and Profit Diagnostic Tool

What the 2020-21 Western Australian state budget means for you and your business

Keeping Western Australians safe and creating jobs was the stated major focus of the WA State Budget that has forecast a modest surplus. 

Employing the right person

While the difficulties you face when trying to fill positions will never be eliminated, the following steps can help you to make better decisions.

JobKeeper V2.0 - complexity redefined

The long-awaited legislative instrument setting out the key amendments to the JobKeeper scheme to take effect from 28 September 2020, dubbed JobKeeper V2.0, has been registered by Treasury.

ATO reverses JobKeeper position on calculation of turnover

Further to our article on 31 August 2020, the ATO have now reversed their position on the inclusion of JobKeeper income in the calculation of aggregated turnover. It has been confirmed that JobKeeper payments will not be included in calculating aggregated turnover.
cash flow

Nine top tips to maintain a healthy cash flow

It does not matter what business you are in, cash flow is vital for survival. This is even more important in the current COVID-19 environment. The team at RSM has put together the following tips to assist you to maintain a healthy cash flow.

5 elements to a successful not-for-profit amalgamation or merger

One of the first sectors to bear the brunt of an economic downturn is the not-for-profit sector which is resulting in many considering an amalgamation or merger. Reliance on community services increases, yet funding and donations can be hard to come by and higher poverty rates affect customers’ ability to pay for services. 
your business

Working "on" your business

All business owners know they should be working more “on” the business than “in” it, but most never find the time as they are just too busy.
word of mouth marketing

Word of Mouth Marketing

Word of mouth marketing is business’ best-known secret. This is an oxymoron I hear you say and that most business people know how important word of mouth marketing is. What they forget is that the key to success is excellent customer service.
Marketing

What value can marketing provide your business?

Do you ever feel like marketing your business is just too hard? Don’t give up. It just takes a bit of planning to make marketing an asset that is well-directed and cost-effective.
Rental property FAQ's and common issues tackled

Rental property FAQ's and common issues tackled

During these uncertain times of COVID-19, some clients have used the time to assess their finances and plans for the future.
COVID-19 lessons for tourism & hospitality businesses

COVID-19 lessons for tourism & hospitality businesses

It is difficult to imagine a more brutal series of circumstances than those that have assailed the tourism and hospitality industry as a direct result of COVID-19.
COVID-19 Lessons for Primary Producers

COVID-19 Lessons for Primary Producers

The COVID-19 Pandemic has presented great challenges across the globe and will continue to do so for the foreseeable future as governments tread a fine line between the very real public health concerns and trying to jumpstart faltering economies.
Risk assessment, strategic planning, innovation – What does the future of higher education look like in the face of COVID-19?

The future of higher education in the face of COVID-19

Risk assessment, strategic planning and innovation – What does the way forward look like for the tertiary education sector in the face of COVID-19? Without question, the higher education sector in Australia has been heavily impacted by COVID-19.
Future business planning for success

Future business planning for success

As June 30 now fades into the sunset, all the EOFY marketing slogans are boxed up and put away for another year, and 1 July becomes just another day in the calendar. It is the future business planning that will determine what tomorrow looks like.
Team Performance

Improving Team Performance

As a Manager or business owner, most of your working life is spent forming, motivating, monitoring and managing your team of staff.
RSM’s multidisciplinary Family Law Support team are experts in untangling the financial web in family law matters.

Case Study: Untangling the financial web

Understanding financial statements and their underlying supporting documents can feel like interpreting a foreign language, but they contain a wealth of important information for property settlements.
JobTrainer

JobTrainer- help for apprentices and trainees

On the 16th of July, the government announced an investment of $2 bn in a bid to help people get into work post the

WA Building Bonus Scheme

With the release of the HomeBuilder program nationally, the WA State Government has announced its own separate support package for the home building industry with the announcement of its WA Building Bonus Scheme and the extension of its single-tier strata scheme.
June 30

June 30 - The date the gate shuts!

In business and tax world, June 30 is a critical day of the year. In the lead up to this date, there is much planning, strategising, executing, restructuring, implementing and spending. All of this activity is for a good reason, as after June 30 many opportunities are closed for another year.
The R&D Tax Incentive and Your Business

The R&D Tax Incentive and Your Business

The Research and Development Tax Incentive is a Federal Government initiative to encourage companies to invest in innovation that benefits Australia.
Planing for recovery and growth for your optometry business during COVID-19

Optometry Businesses: Recovery and growth planning for COVID-19

As social distancing restrictions are easing, there is an opportunity for optometry practices to look ahead and focus on recovery and growth.

JobKeeper and Compulsory Superannuation Guarantee

The Coronavirus Economic Response Package (Payment and Benefits) Rules 2020 (JobKeeper rules) were registered by the Treasurer on 9 April 2020.
SMSFs

Top 5 issues with SMSFs and Family Law

Superannuation and SMSFs are becoming increasingly complex, especially in a family law situation.
COVID-19 has had significant impacts on the work of independent experts.

The impact of COVID-19 on the work of independent experts

The significant volatility in local and global equity markets over the last few months clearly demonstrates the impact that COVID-19 is having on Australian companies.

Do you have a business recovery plan?

The relaxation of the COVID-19 protocols is good news for business, but… What’s your plan now? Do you have a recovery plan?

Pharmacy Businesses - COVID-19 Support

This information pack is directed specifically at pharmacy owners and their businesses. COVID-19 support and economic stimulus packages are discussed and specific information is included around:

Increasing instant asset write-off to items under $150,000

RSM is pleased to provide this information sheet with details of the increased instant asset write-off available to small and medium-sized businesses.
Business Systems

Business has changed again - is it time to update your business systems?

Many businesses were planning to put 2019 behind them and were looking forward to 2020 with some optimism.  However, with the impact COVID-19 being felt by all, the first quarter of 2020 has not gone to plan.
Property Development

Dealing with GST

For most businesses operating in Australia, GST is fairly straight forward. As many of our clients are quick to remind us, ‘you just add 10%.' 

New announcements to the 'JobKeeper Payments'

In recent days, the Federal Government has made updates to the JobKeeper payment Fact Sheet, providing clarity surrounding eligibility for certain individuals and consolidated groups, and extending the eligibility criteria for eligible charities.

Cash flow options for Optometry Practices

These are unprecedented times for optometry practices across Australia. One thing is certain: the far-reaching economic impact of COVID-19 is having a significant impact on optometry practice cash flow. What options are available to optometrists to help their businesses survive in these difficult times?
Failing to plan

For farming operations, failing to plan is planning to fail

In these challenging economic times, trying to maintain a “business as usual” approach to the farming operation can apply a lot of additional unnecessary stress and pressure. At this time of year, many are still looking to finalise operational plans for the farm for the coming 12 months.
Home office security essentials and tax deductions during COVID-19

Home office security essentials and tax deductions during COVID-19

To minimise the spread of COVID-19, businesses across the globe are hurrying to implement remote working for employees.
SME Business, Pharmacy, Profits, Cash, Statements, Accountant, Business, Business Management, Cashflow

"Just where has all the profit gone?"

Without doubt, the most common question an accountant is asked: “why does my profit not equal the cash in my bank account?”.

10 must-haves for organic business growth

Going for growth - Strategies for generating new business Every business wants to grow, but not all businesses know how to grow in a sustainable and profitable way.

Should your business be investing in 'strategic outsourcing' solutions?

At RSM Australia, we are interested in trends, macro and micro economic trends, business trends, technology trends and any broader environment or behaviour patterns that are impacting on our client’s businesses, the means by which they solve their problems, become more profitable, and in turn the demands that they have of us.
Property Development

How to structure property development?

Changes in Purpose Typically, property developers will aim to structure a property development with one of three desired outcomes in mind:

What are the basics of business?

How many of you remember life before smart phones…or even before the simple mobile phone?  How ever did we manage to survive or even get in touch with someone urgently?

A guide to changing a business structure

Nothing is permanent except change. 

What happens to property you may own in the event of your death?

You know the saying, there are two certainties in life: death and taxes and I'm going to be covering both of those. This article highlights what happens to property you may own or control on your death. 

Farmers and Communities to Receive Further Drought Relief Funding

Drought-affected communities and farmers will get an immediate cash injection, with the Federal Government promising a new $100 million drought relief package.

Superannuation Legislation for High Income Earners

The Government has passed superannuation legislation for high income earners (with income exceeding $263,157 per annum) which allows employees with more than one job to choose not to have the 9.5% superannuation guarantee paid by all their employers.

The ‘P’ in Pharmacy – It’s about Professionalism, not Price

The ‘P’ in Pharmacy – It’s about Professionalism, not Price

Sign up for an Asset Protection event near you

Imagine losing all of your assets in one fell swoop – house, cars, savings… the lot. Insurance can never protect against every scenario, but asset protection can try. 

Six technology investments every SME must make

With technology continuing to improve through the impending advent of 5G and as mundane business processes become automated, the opportunities for SMEs could be limitless. In this edition of thinkBIG, we highlight and explore six of these technology investments every small business must consider. 

Asset protection vs tax optimisation

In business, there are many risks that are simply out of your control. This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.

Surviving the hospitality cash flow conundrum

When the music stops, will your business cope?

Farm Management Deposit offset

Coverage of the drought that has impacted much of the farming community in central and eastern Australia throughout 2018 and earlier years has been unprecedented.  National and international media have shared stories of farmers doing it tough, fighting to keep their livestock going when feed and water are scarce and for nearly all, massive fin

Are you across the New Payments Platform?

The wait is over, after 4 years in the making and months of delays the New Payments Platform is finally here! What is it and what does this mean for your business? Key benefits:  Real-time movement of money Simpler, smarter addressing (PayID)

Liquidity a problem? Give your business a health check !!

Companies relying on historically low interest rates to mask their true capacity to pay bills when they fall due, need to seriously address debt serviceability once the official cash rate starts moving higher which some will say will occur in 2017.

Common business mistakes made by those in the building industry

As tradespeople, you know the importance of preparing a job properly, whether it’s the foundations of a house or sanding back old paint, preparation is vital to getting the best result. Despite this, so many people fail to prepare their biggest job, which is their business and it’s often a costly and detrimental oversight.

Case study: Hutcheon and Pearce

The global population is expected to total more than 9 billion by 2050 and farmers will need to double their agricultural output while using the same amount of land, water and other resources. This challenge is one that General Manager of Hutcheon and Pearce, Arron Hutcheon, is ready to play a part in.

Case study: ADG Prestige Builders

“RSM offers strategic advice particularly when it comes to managing finance. I will be looking to Ray and the team in the next five years to provide advice on the best way to finance the business to sustain growth”. - Adam Guilmartin, Owner