Key results from SME direction survey – 10 key insights from 1000 SME’s, common trends for 2014
In the recently released survey results a few disturbing trends emerged:
Biggest growth challenges – cash flow ( 21.5 % ), growing sales ( 40.6 % ), people ( 12.8 % ) and access to capital 9.6 % ) .
Self-managed super funds – SME’s are confident they work – 29.9 % of respondents had an SMSF ( a higher take up rate for SME’s than the general population ) – 87.2 % of those who did manage their own super were pleased with the stability. A clear majority ( 69.4 % ) of SMSF owners also received professional advice.
Almost 70 % of business reported no impact from the drop in the Australian dollar. Just over 20 % reported a negative impact and 12.2 % said the lower dollar made a positive impact.
The biggest worry for SME owners was cash flow ( 57 % ) , the second most concerning the Australian economy ( 34.3 % ) , while rising costs ranked third with 31.5 %
Going forward, the majority ( 51.4 % ) of businesses said the advice they want most relates to sales and marketing.