What are the big trends affecting Aussie small businesses in 2023 and beyond? Part 2

RSM's talkBIG Podcast

In part two of our talkBIG double episode, Andrew, Young and Chris discuss the final four trends from our thinkBIG report on the 8 key trends impacting small businesses in 2023. If you're a small business owner or private contractor, you won't want to miss this.

First up, the talkBIG team talks about cyber security, and it's a big deal. Did you know that the dark web is now the third largest economy in the world? And a cyber crime is reported every 7 minutes! That's why it's crucial for businesses to safeguard their data and have a backup plan in case of a breach. It can cost a lot of money and even put you out of business. Don't take the risk of losing everything, tune in to learn how you can protect your business.

The next hot topic our hosts weigh in on is staff shortages. It's tough for small businesses to compete with the big guys when it comes to hiring. The talkBIG gang share some strategies to help business owners overcome this hurdle, such as using technology to automate tasks and free up your staff to focus on higher value work. They also discuss how you can showcase your unique selling points to attract top talent.

Cashflow is always a top concern for small business owners, but don't worry, there are more options than just taking out loans. Andrew, Young, and Chris suggest exploring government incentives and grants that you may be eligible for. With a bit of effort and research, you could find ways to boost your cashflow without taking on more debt.

Finally, the talkBIG team talks about virtual CFO services, a great option for businesses looking to gain financial insights without hiring a full-time CFO. You'll learn how you can get financial analysis, identify risks and opportunities, and even negotiate with stakeholders and lenders. Plus, the insights gained from forecasting can help you decide if it's time to hire a permanent CFO or not.

So there you have it, the final four trends from the thinkBIG report, delivered straight to your ears. Don't forget to subscribe to our channel for more business and finance insights, and check out our library for previous episodes that will help you make smart business decisions to keep your business thriving.

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Thanks for listening! Visit the RSM Australia website to ask the hosts a question.

Chapters

1. What are the big trends affecting Aussie small businesses in 2023 and beyond? Part 2 (00:00:00)

2. Cyber security and the dark web: The massive criminal economy that could steal your money (00:03:58)

3. Staff Shortages: How to find employees and keep them happy by automating mundane tasks (00:10:48)

4. Cashflow Options: the tax breaks and government grants that could help your business keep the cash flowing (00:15:52)

5. Virtual CFO – How access to real-time data makes outsourcing your financial data analysis a compelling option (00:21:20)