Dramatic increase in confidence & business expectations – but planning is - Succession Plus

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Dramatic increase in confidence & business expectations – but planning is

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Dramatic increase in confidence & business expectations – but planning is

By , October 13, 2010

The HR Quarterly Index Dashboard report for October 2010 by HR Coach shows improvements in almost every area in terms of business confidence ( up 2 % since May 2010 ) . The report also highlights increased expectations – for growth – up by 8 % to 42 % of businesses expecting growth in sales, 37 % expect an increase in profitability and 3 % ( up 6 % from -3 % in May ) expect an increase in capital.

Job advertisements have again risen by 2.6% in August 2010 – the 4th monthly increase in a row – with a 36.1 % increase over the last 12 months.

In the executive summary the following key points are highlighted – “With an unemployment rate of 5.1%, businesses are readjusting their projections in preparation for the looming battle for talent in 2011. This will impact both profitability and cash flow…. attracting and retaining employees will become the next critical issue ahead. “

Interestingly the conclusion states “…. and 41 % have no planning structure at all ” – not a great indicator of our professionalism in running businesses.

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.