Vision & Values – the cornerstones of a family business

Businesses are really busy. But they are too busy working in their business. And now, more than ever, with disruptive technologies, rapid changes in the marketplace and uncertainty at all levels of government, it is vital that family businesses step back and take the opportunity to work on their business to develop a long-term strategic focus.

This year’s state conference is shifting up a couple of gears. We assembled a group of speakers with the aim of stepping families up to a strategic view of their businesses. In previous years we have discussed the mechanics of business. However, now the advice from advisers and industry is that, in order to succeed, businesses must have a Big Picture understanding so that they can flex and adapt to changing environments.

The State conference Victorian Conversations is going to be a Heads-Up moment. The chance to see things with fresh eyes; where the information and inspiration gained will far outweighed the time spent participating in the day.

So delegate out your daily tasks and get your 2IC at the helm. Jump online to register. Better still buy a double ticket and bring a family member from a different generation – that will really maximise value from the experience.

Congratulations from FBA to a Family Business leading the way!

Luv-a-duck, a member in Nhill (halfway between Melbourne and Adelaide) were highlighted in an article in the Guardian last week for their contribution to the local community. A report commissioned by the resettlement agency Ames and undertaken by Deloitte Access Economics has found the resettlement of the refugees has created 70 full-time jobs, mainly in local poultry producer Luv-a-Duck.

“Fifty-four people are directly employed in Luv-a-Duck, and seven employed in businesses that supply Luv-a-Duck. Beyond this, the increased population has enabled the creation and filling of additional jobs across a number of broader community businesses and services,” the report said.

The creation of the jobs and the flow-on effects of having a larger population have resulted in a $41.5m boost to the economy, according to the report, which will be released on Friday.

Upcoming Opportunities
Invitation to free small business scams and cybercrime forum

Tues 19 May from 5.30pm – 8pm at Experimedia space, State Library, 328 Swanston St Melbourne

Scams and cybercrime (such as identity theft) impose significant financial, legal and reputational costs on thousands of small businesses each year.

Attend this free forum to learn about the risks small businesses face and the steps you can take to protect yourself.

Register here to attend and learn from three subject experts.

Kingston City Council is hosting a breakfast forum on the topic of transition in business. There will be FBA members talking about their experiences as they work through transitioning the business to the next generation.

Wednesday 27^th May, 7.00am – 9.00am (venue nearby the council offices on Nepean Hwy, Cheltenham.

Leadenhall Advisory, a company specialising in valuations, are hosting a forum with the ATO commissioners. One of our guest speakers is be the Deputy Commissioner of Small Businesses and Individual Taxpayers division of ATO. This is a great opportunity to get your head around compliance and regulations – ask a person directly the questions that have been bugging you, rather than struggle with the faceless ATO.

https://www.youtube.com/watch?v=UfFsFbXA7BE

Friday 26 June, 12.00noon – 2.00pm includes lunch, 440 Collins Street.

Ring Nicola on 03 9867 5322 to secure a seat.

Plus

Did you know the ATO offers three free online programs, including the small business education program which is aimed at helping small businesses understand their rights and obligations under the Competition and Consumer Act 2010 (CCA 2010) and covers areas such as misleading and deceptive conduct, consumer guarantees, unfair contract terms, small business scams etc.

 You may also be interested in the franchising pre-entry course, designed to help potential franchisees evaluate their suitability for running a franchise and to acquire the knowledge needed to do so successfully.

 You can find both of these programs at: www.ccaeducationprograms.org.

Consider also subscribing to the Small Business Information Network and Franchising Information Networks – a free service dedicated to keeping small businesses informed about the latest regulatory developments, scams, educational webinars and publications etc. To subscribe, simply send your details to this address: smallbusinessinfo@accc.gov.au and/or franchisingcode@accc.gov.au.

To get advice related to the CCA2010, you can contact ACCC’s small business helpline on 1300 302 021.

Sothertons Melbourne (E-alert)

Sothertons Melbourne has recently been alerted to a scam whereby businesses are being approached over the telephone by someone purporting to be from a government agency. They are suggesting that there are outstanding tax debts and that they can either take payment or that the business owner can contact a Sydney number to make payment arrangements.

This matter has been reported to the ATO.

The ATO do not address their debt collection matters in this manner and if anyone should contact you please request contact details and direct them to Sothertons. Under no circumstances should you provide any personal details, banking or tax file number information over the telephone.

If you are contacted please advise our office and we shall report it through the ATO fraud department.