Blog from the Bridge

SO WHY IS A BUSINESS PLAN SO IMPORTANT ?

Business planning is one of those issues that other people do or bankers request when they want to obfuscate on why a loan is not forthcoming. Nevertheless, a plan is always advisable because of the following reasons: 1. it forces the business owner to sit down and get the ideas for the business out into the open so they can be discussed and if necessary changed 2. it provides specific targets or milestones that holds everyone to some degree of accountability 3. it allows all stakeholders [ family, partners, shareholders, lenders, suppliers, investors and others] to make an objective assessmentRead more...

18/08/2013 6:12 pm

BUSINESS PLANNING-HOW DOES IT HAPPEN IN THE SMALL BUSINESS SPACE?

The next few blogs will address this planning issue for micro/mini businesses. It has been my long held view that small businesses have very little in common with the BHP’s , CBA’s and Caltex. Indeed, they have nothing much in common with any listed company. Most small businesses have to outsource all of their technical requirements especially the accounting and planning functions. Once they have sufficient size and scope to employ an in-house accountant then some real changes start happening in terms of the supply of real time/quality financial data suppied to proprietors. But sadly, most small businesses never get to thatRead more...

18/08/2013 12:07 pm

BUSINESS PLANNING

ONE SHOULD ENTER THE RELM OF ‘SMALL BUSINESS PLANNING MUCH THE SAME WAY AS A PORCUPINE MAKES LOVE….VERY CAREFULLY !!

    Don has many years of successful business planning in dynamic small business environments

16/08/2013 3:38 pm

WHAT IS MEANT BY THE TERM ‘DUE DILIGENCE’ ?

This term started to be used decades ago in the USA and it has gradually morphed into common use where a buyer of an asset must undertake certain processes to investigate the offering and satisfy themselves as to the risks of acquisition. The term describes a general duty to exercise care in any transaction especially where the interests of the parties are not identical. Clearly there will be a focus on risk. So ‘due diligence’ describes the processes you implement to satisfy yourself as to the veracity of what you are buying. The scope of the due diligence process will dependRead more...

01/08/2013 6:00 pm

WHAT CAN THE FISCAL BRIDGE DO FOR YOU ?

A common question from business people and farmers is ‘what can you do for my business and what is your point of difference ?’ Small businesses usually cannot afford to employ a full time accountant on their staff so they generally opt for bookkeepers and external accountants to help them fulfill their compliance obligations [ BAS’s and tax returns]. Sometimes they attempt to do the bookkeeping themselves. That arrangement tends to work really effectively until an unusual event takes place such as buying or selling a business, restructuring, serious solvency issues, matrimonial problems, succession planning or retirement, declining profits or growth,Read more...

23/07/2013 8:42 pm