Benchmarking...

Blogs

The Silent Disruption of the Accounting Industry

As Featured in the Australian Financial Review on 19/6/19. Amidst the protest of taxi drivers against ride-sharing, the headlines of more manufacturing companies closing and uproar over telecommunications jobs moving overseas, the mature accounting industry is quietly undergoing a dramatic innovation transition. And, the $1Billion Australian FinTech Industry is not the only one to blame. […]

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Instant asset write-off for small businesses

In case you didn’t know there’s a $30,000 instant asset write-off for small businesses If businesses are wanting to purchase assets, now may be the time given recent changes to the instant asset write-off (IAWO) thresholds. The IAWO was first introduced in 2015 as a means to help small businesses through a period of economic […]

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Discover the Feedback Loop Secret

Feedback loops are seen everywhere, from biological systems where they are used to achieve a stable environment to sports where performance is measured and used to make enhancements. No matter the application, the process is simple: production occurs, measurements are taken and the information is used to make improvements. The surprising thing is that despite […]

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ATO Small Business Benchmarks Explained

The Australian Tax Office (ATO) provides a high-level benchmark tool for business owners to compare their company’s performance to a wider range of similar businesses. There are essentially three purposes behind the ATO Small Business Benchmark Tool. These are: encourage business owners to perform annual health checks to see if their costs are above or […]

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Increasing Franchisor Transparency and Accountability in Australia

Franchises are often considered, and sold as, a win-win business-model by both franchisors and franchisees. However, the recent Fairness in Franchising Report by the Federal Parliamentary Joint Committee on Corporations and Financial Services, released in March 2019, highlighted that franchisors are currently winning at the expense of their own franchisees. The scathing report has recommended […]

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The Meaning of a Benchmark

A benchmark is often considered as the optimum performance to be strived for, or, the average performance which is either outperformed or fallen short of. The meaning of a benchmark, in a nutshell, is a reference point or a standard which something can be measured against. In the context of business, there are many benchmarks, […]

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The what and how of Benchmarking

The process for obtaining a measure – a benchmark: Simply stated, benchmarks are the “what,” and benchmarking is the “how,” of the process. Benchmarking without the right tools is not a simple process. Before undertaking a benchmarking opportunity, it is important to have a thorough understanding of the company’s guidelines around data and communications. You […]

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Before you buy a business

Benchmarking is an essential resource if you are thinking about buying a business. The best starting point is to obtain a copy of the Australian Benchmark Report for the industry or sector your looking at buying into. It can help you to measure the past performance of a business to see how it performed against […]

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