ABM Advisor: The ABM Blog

  • Jul 28 2015

    Does your business need a succession plan?

    Succession planning has been highlighted as a vital process by firms overseas, especially in the United States. However, how important is it for Australian companies to put their own plans in place?The North American Securities Administrators Association (NASAA), for example, has made it mandatory for all state-registered investment advisors to have a business contingency and succession plan in an effort to avoid disruptions to businesses. This ruling protects the company from unexpected changes due to factors such as a sudden death or a database loss, as well as ensuring clients receive a consistent service. However, a Family Business Australia survey showed that only 20 per cent of family-owned businesses have a succession plan in place. Considering that family businesses represent around 70 per cent of all Australian firms, there is a considerable gap between the planning needed to ensure continued success and the amount companies are actually implementing.  In Australia, succession planning has been bought to the forefront in many companies, according to Ben Power of the Chartered Accountants Association. With the baby boomer generation heading towards retirement age, firms are faced with the task of filling vital roles and preparing people to move into the strategic apex. 

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  • Jul 20 2015

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    New report shows how businesses engage with technology

    Recent business IT data has revealed just how engaged with technology Australian firms are.

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  • Jul 15 2015

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    Business confidence on an upwards climb

    Two recent business surveys have indicated that Australian businesses have an increasingly positive outlook towards the future.

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  • Jul 14 2015

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    Innovation patents: Are they really worth it?

    While the concept of innovation patents certainly isn't a new development, a recent study exploring its long term impacts on businesses has offered some compelling new findings.

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  • Jul 13 2015

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    Retail report spells good news for e-commerce

    A recent online retail report conducted by eWAY has revealed significant growth in online transactions.

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  • Jun 30 2015

    Budget helps buoy corporate spending

    Australian businesses have been keener to spend in the immediate aftermath of the May federal budget announcement, the latest Commonwealth Bank Business Sales Indicator (BSI) reveals.

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  • Jun 24 2015

    Leadership and competitiveness go hand in hand

    Remaining competitive is high on many company agendas at the moment, but just what tools do they have at their disposal to make this happen?

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  • Jun 22 2015

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    Economic conditions buoy business sentiment

    Business conditions are starting to improve across the country, as firms respond positively to the cut to the official cash rate and the federal budget announcement. NAB's Monthly Business Survey for May shows that conditions were up 3 points, putting the result higher than the long-run average.

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  • Jun 18 2015

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    Small businesses given a hand with international trade

    The launch of a new government project could be just what Australia's small businesses need to begin trading on a much larger scale. A number of recommendations have been put forward by the government, which will improve standards for how both data and information is distributed across the Asia-Pacific Economic Cooperation (APEC).

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  • Jun 16 2015

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    Foreign investment could deliver business benefits

    Investing overseas could be just what the Australian economy needs in order to thrive, but it seems that small and medium-sized enterprises (SMEs) are failing to recognise the advantages. This is according to Bentleys' The Voice of Australia Business Survey, which highlights a lack of understanding the in the sector.

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