Leading Australian SMEs in 2023’s Changing Economy

A new whitepaper from Thomson Reuters features candid insights from Australian small and medium sized business owners and executives on what the future holds and how they are navigating 2023.

The Australian economy is constantly evolving, which means that small and medium enterprises (SMEs) need to adapt in order to stay competitive. As an accountant, it’s important that you understand what this means for your clients – and how you can help them succeed.

Common themes emerged across a range of sectors – aged care, co-working office services, accounting, software development, manufacturing, and transport – including:

  • current market conditions;
  • pricing strategies to drive business growth;
  • skills shortage and talent retention stifling growth;
  • ESG for value creation and cost reduction; and
  • technology and automation.

“The key themes presented in this paper were echoed by all the business owners and executives we interviewed. What was clear is that the status quo is no longer enough to effectively operate and thrive in business. Adapting and trying new things is key to navigating through this changing economic environment.”

Leading Australian SMEs in 2023’s Changing Economy

Challenges associated with these topics mean SMEs will rely more heavily on accountants for advice so it is important for accountants to pivot from their traditional areas of compliance and adapt to meet their clients’ changing needs.

Leading Australian SMEs in 2023’s Changing Economy unpacks some of these challenges and offers valuable insights and practical ways accountants can be more than just number-crunchers by diversifying their skill set so they can better serve their clients.

Access your copy of Leading Australian SMEs in 2023’s Changing Economy via the form on this page. 

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