It’s festival time again with so much on in Adelaide I can’t help but think how lucky we are here in South Australia to have such a great choice in entertainment whether it’s live shows, car racing, horse racing or world music . We are glad to see our loved family brewery Coopers extend their partnership with the V8 Supercars for another five years, supplying beer and cider to track side enthusiasts.

We kicked off our professional development sessions for 2015 with ‘Winning in Tough Times’ on 11 February. This interactive evening provided a range of insights into leading and managing your family business in a tough economic climate. Peter Siebel from 4D Advisery shared some great advice including:

• where costs can be saved and where investment is required
• the importance of focusing on the needs of the market and taking market share where possible
• the importance of shrewd financial management and negotiating with investors and lenders
• the need to be nimble but cautious with innovations; pilot and trial new ideas before investment
• the importance of communicating with family members through all circumstances and forming key agreements

In member news, it is exciting to hear of some achievements and progressions for Seeley International, Suntrix, The Wylie Group, Beaumont Tiles and Wotherspoon Wealth (formerly Astute Investing). Click here to find out more.

Coming up in March, don’t miss the Managing Uncertainty Webinar on Thursday 26th. Colin Knox from Whitbread Insurance will address how to formalise your risk management processes. In April, Developing Your Family Business Strategy will run on  the 9th, don’t miss the opportunity to develop strategies that will create a competitive advantage for your family business.

For those members who are interested, nominations are now open for the 2015 Telstra Business Awards. Entrants will be judged on broadened human resources criteria in 2015 along with business achievements, strategy, customer service, financials, sales and marketing, innovation and social responsibility. Last year, family business Bowhill Engineering won the South Australian Regional Business Award, it would be great to see some more South Australian family businesses contending this year!

I look forward to seeing you soon.

Kris Henry