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

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)

Failure to seek commercial and strategic advice crippling SMEs

Many Australian business owners are frustrated at not reaching their growth targets because they haven’t identified the need to transition from an accountant providing basic tax compliance advice to a business advisor who can help implement the right growth and profit targets via strategic advice.

Great profits? It's not just about great sales

It’s very common for a business owner to focus on their turnover or the sales they generate.

Farm Succession Planning and the four A’s

Farm succession planning has been described as developing a strategy to work out whether someone will take over the farm or whether it will be sold when the owner retires or dies.

Farm Management Deposits - do you have a plan for the end?

Farm Management Deposits (FMDs) are an integral part of year end planning for Primary Producers.

Seven tax planning tips to help your small business with a 2017 tax plan

With the end of yet another financial year fast approaching, now is the final chance for small businesses to get their 2017 tax planning in order.

Sell your business tax free - is this too good to be true?

In many situations this is entirely possible. When small business owners dispose of active business assets, they may be entitled to disregard some or all of the capital gain by utilising the available Capital Gains Tax (CGT) concessions.

Caveat Emptor - Let the buyer beware

Let the buyer beware - a simple and obvious statement but one which is particularly relevant to business people.  This period running up to the end of the financial year is a popular period for vendors to dispose of their business. If you are considering purchasing a business, it is worthwhile considering a few issues.

Why customer service is vital in a sea of automation | Part 3

Do you want your business to stand out from the rest? Offer a quality user experience! Great customer service isn't just about resolving an issue. If you really want to differentiate yourself and impress your customers, you need to consider their experience from beginning to end. This is where user experience comes in. 

Three ways to boost your super from July 2017

Could the rule changes that recently took place to Super actually present you with some great opportunities to build your retirement wealth from July 2017?

Payroll Tax - How you can avoid the common errors

The cash flow impact of not complying with payroll tax reporting Understanding the complex rules surrounding payroll tax can sometimes be difficult to manage. Not planning for your payroll taxes can cause serious consequences for the cash flow of a business  

Why customer service is vital in a sea of automation | Part 2

5 Simple ways to improve your customer service Have you ever been so frustrated by a company’s customer service? On the other hand, how incredible is it when a company has excellent customer service?

Why customer service is vital in a sea of automation | Part 1

How to increase profits through better customer service. "Customer service is not just a warm and fuzzy addition to your business practices, it's directly linked to your profitability and sales. This is why it needs to be a priority and a focus for any business that wants to grow or even survive in a highly competitive future"

Set your child care centre up for success by managing cash flow

One of the most common questions that an accountant is asked from the child care sector  is, 'So I made $150,000 last year; why don't I have another $150,000 in my bank account?' The answer is negative cash flow... 

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.

Are you market intelligent?

The foundation of any successful business strategy is market intelligence. Being informed means you can make competent decisions about your business’s direction and have the foresight to predict and be prepared for the challenges ahead.

Budget 2016 for SMEs

Key announcements Increase in small business entity turnover threshold from $2 million to $10 million; Increase the unincorporated small business tax discount; Amendment to Division 7A to allow self-correction for inadvertent breaches.

Tips to improve your cash flow

The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Here are some tips for improving your credit management and cash flow in 2016:

Five areas corporate Australia should be aware of in 2016

The introduction of new tax measures, increasing insolvencies, and the growing incidence of digital disruption in the corporate sector in Australia means there are a number of key areas that CEOs, executives, directors, and boards should be aware of in 2016, according to RSM Australia.

10 things business owners should focus on in 2016

The Reserve Bank of Australia (RBA) forecast suggests the domestic economy will remain stable into 2016 and low interest rates are set to continue. [1]  This is likely to create some growth in consumption, which is good news for small to medium-sized enterprises (SMEs).

RSM launches Ready4 with National Disability Services and the ACT Council of Social Services

RSM has launched Ready4 alongside  National Disability Services (NDS) and the ACT Council of Social Services (ACTCOSS), creating a central point of contact for organisations transitioning over to the National Disability Insurance Scheme (NDIS) in the ACT. The Ready4 program was commissioned by the ACT Government.

46 percent of SMEs planning to invest in the digital space

Disruptive technologies and innovation are accelerating the need for change and are having a profound impact on many traditional business models and their revenue streams. To compete effectively, businesses must adapt and evolve quickly to respond to what is becoming the new 'norm'.

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.

Caveat emptor - let the buyer beware

Let the buyer beware - a simple and obvious statement but one which is particularly relevant to business people. 

Ten financial terms every franchisee should understand

Many people go into business because they are passionate about the products or services they can offer as part of that business. Often, franchisees have chosen to purchase a franchise because it is a lower-risk business option than a start-up.

How to finance your franchise

One of the most pressing concerns for many franchisees is to find a way to cover the costs involved in purchasing and running a franchise, including the initial purchase, plant and equipment, premises fit-out, working capital requirements and more.

Digital disruption moving accounting software into the cloud

In the simplest terms, cloud computing means storing and accessing data and programs over the Internet instead of your computer’s hard drive. The most common example in business today is internet banking – most businesses access their bank accounts through browser based software, with the data hosted in the cloud.

Managing your cashflow

Managing your cashflow is crucial to running a successful business. Running out of liquid capital is one of the most common reasons that small businesses fail.

Make sure that fringe benefits are beneficial

The end of the FBT year is fast approaching, and it is a good time to reflect on your FBT plans for 2015-16. Fringe benefits are benefits that you provide to your staff that fall outside the categories of traditional wages and salaries. Examples of common fringe benefits include cars, low interest or interest-free loans and school fees.

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