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Tony Abbot’s New Year speech was all about tackling 2014 with optimism and confidence. Of course, this is what he should be saying, but it confirms what we have been seeing with our SME clients. Key statements from Tony Abbott’s speech:
- ‘start new businesses’
- ‘make investment’
- ‘have a go’
- ‘may we all be nearer to our best selves in 2014’
When I reflect on 2013 and discussions I’ve had with my clients, I too believe 2014 should be a great year for many businesses [and the people behind them].
Valuation inquiries are up. There are more new businesses starting and more business owners willing to talk about succession [because owners now think they’ll attract a fair price].
Many businesses in 2013 were all about laying the foundations for the future. I am seeing many businesses upgrading their technology, moving to the cloud, investing in major changes to their processes, looking to manufacture overseas and generally just improving the structural foundations of their businesses.
We undoubtedly cannot avoid the personal feelings behind SME’s and family businesses. I think there is also an element of people generally who have just had enough of ‘sitting on their hands’ since the so-called GFC. Many business owners have been focused on controlling costs for so many years now, in true Australian fashion, they want to just get back out there and ‘have a go’.
On a personal note, this is why we created businessDEPOT. We see the great business ideas, the great industry specific skills of individuals and the drive and determination of small to medium business owners. We just want to empower these business owners to reach their potential.
From everyone at businessDEPOT we wish you a happy new year and all the best for you and your business in 2014. We hope you take another step towards reaching your potential this year.