Time to step up your family business!
Welcome to our November newsletter! Did you know that family businesses account for 70 per cent of all businesses in Australia and employ around half of the country’s workforce? Building a successful family business is hard work, but it can also be incredibly rewarding. We understand the many challenges that you face as an owner; the key to success is getting the right advice and Advivo is here to help you on the journey.
Family businesses, like all businesses, want to grow. Sometimes, to achieve that growth additional human and financial resources are needed. I am very proud of this newsletter as we have a very diverse range of articles with lots of great information that I think everyone will find useful and enjoy. Our first article expands on the theme of business growth from last month, this time focusing particularly on introducing new capital from external sources to accelerate growth. We also talk about the benefits of setting up a board for your business, share our 5 biggest tips for successfully planning your business transition and, fill you in on what you need to know about the new Director Identification Number requirements.
More and more family businesses now have successful women as either their sole owner or steering the family business, with women now accounting for 35 percent of business owners and managers in Australia. But as hardworking as they are, many women still face obstacles in both their business and personal lives. Please take the time to read the great guest article written by Susanne Bransgrove, Founder of The Women in Family Business Network, where she examines some common observations of women in business and shares her personal experience.
At Advivo, we know that no two businesses are alike, and we pride ourselves on taking the time to listen and understand your business, your short and long-term objectives and family circumstances to tailor solutions to your unique situation.
Next week, we will be sending out our yearly Client Satisfaction Survey so you can share your feedback on how we’ve done this year and suggest what we could do differently in the future. Please keep an eye out for this in your mailbox and take the time to complete it– your feedback is very important to us. In addition to this, we would be grateful if you could please share your experience working with us by leaving us a Google Review.
Thank you and happy reading!