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Is there a new face of Australian small business? If so, what does it look like?
Nearly half the small businesses in operation in Australia today started in the past six years and in the past decade they've provided four out of five of all the new jobs created. Small businesses employ around 40% of the workforce, and are responsible for generating around a quarter of our GDP.
'From S to M' explores doing business in the contemporary economy. New technology, complex legalisation, ongoing training, global markets and the rise of government as customer are all part of this modern marketplace.
Small to Medium Business: The SME Experience
Part 1 of 13
Small businesses employ nearly half the Australian workforce. Yet more than half of all small businesses employ no one. It’s only one of the paradoxes that have come to characterise this diverse sector of our economy.
In this first program we take a snapshot of modern small-to-medium enterprise, from the lounge-room micro-business to the traditional shop on the corner, as we try to come to terms with the challenges and opportunities the sector faces.
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Small to Medium Business: Starting a Business
Part 2 of 13
Starting from scratch can be daunting. You’ve got to find the right business model, the right location and staff, and an appropriate form of legal ownership. And your ambitions need to be tempered by the knowledge that start-ups have the highest risk of failure. But it’s not all bad news. This program looks at how business ambitions AND creative energy can be channelled into a workable plan.
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Small to Medium Business: Buying a Business
Part 3 of 13
There are two key elements to buying a business: viability and suitability. Operators often fall into the trap of paying too much. In this episode we look at the contract, the books, franchising and good will, so that you can buy a business using your head AND your heart. One of our guides is an enterprising hot dog-stand operator, calling the shots from a corner of one of our busiest metropolises.
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Small to Medium Business: The New Economy
Part 4 of 13
Three aspects of the so-called new economy have made a major impact on small-to-medium enterprises: globalisation, deregulation and new technology. Are they a threat or an opportunity for small business? The answer: undoubtedly both. Equally certain – it’s the most creative and innovative operator who’ll thrive. This episode takes a glimpse into the dynamic commercial world of the 21st Century, where distance and size need no longer be disadvantages. It’s a place where big business is playing the small business game and small business must learn to play in a bigger arena.
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Small to Medium Business: Money
Part 5 of 13
Money - it's a basic unit of doing business. Yet it's surprising how mishandled it can be. Many small enterprises get caught up in sales and marketing, hoping the cash will manage itself. Today we look at raising, making and monitoring money. Seasonal cash fluctuations are a brute fact of commercial life. It’s crucial that operators understand how to anticipate them successfully.
To add, we now have a type of taxation that requires a disciplined approach to cash management. Today we visit some small businesses who are keeping a close eye on the ebb and flow of their money.
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Small to Medium Business: Training
Part 6 of 13
Benjamin Franklin once said genius without education is like silver in a mine. This applies to small business too, because no matter how experienced and energetic you and your staff are, somewhere, there’ll be someone doing it better. In fact, training has become an indispensable part of operating successfully in the new economy. Whether it’s in-house, or external, accredited, expensive, or obligation free, the successful small business person recognises that training is ongoing, and should last as long as the business itself.
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Small to Medium Business: Project Management
Part 7 of 13
Project Management isn't the preserve of big business anymore. Nor is it limited to the hard disciplines of engineering, aeronautics, defence, and construction. Today, PM techniques are critical in many small businesses, not just in getting the job done on time, on budget, and to specification, but also in enabling a viable profit margin. In this episode we see how Project Management can be put to use, and meet some of the small business that can’t do without it.
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Small to Medium Business: The Law
Part 8 of 13
Deregulation might have taken government out of the day-to-day management and ownership of many areas of the economy. But that doesn’t mean that regulation and compliance has gone as well. The price of freer markets is greater risk, liability and responsibility. Small business is obliged to comply with complex and often contradictory laws and regulations affecting almost every aspect of their operations. Whether it’s federal, state or local, ignorance of the law is no excuse. We look specifically at workplace law, trade practices and the commercial lease.
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Small to Medium Business: Government as Customer
Part 9 of 13
Having government as a customer, be it local, state or federal, can certainly be lucrative for small business. But there is a price to pay, in terms of compliance, and cash flow. Governments can take longer to approve and pay for work, and you have to play by their rules. This episode looks at the best ways to do business with this rather big customer. We meet some small business people who deal with government on a regular basis. What practical measures do they take in securing and maintaining public sector custom?
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Small to Medium Business: Troubleshooting Tax
Part 10 of 13
Along with globalistion, deregulation and new technology, the tax system has made a major impact on small to medium businesses in Australia. Those operators who can't comply with the new rules have gone out of business. Those who have survived understand their business better than ever before. It is clear, whether you use a bookkeeper, accountant, or go it on your own, that careful tax planning is now essential. In this episode we look at the essentials of doing business with the taxman, and visit some small enterprises determined to make tax planning an integral part of their operations.
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Small to Medium Business: Relations
Part 11 of 13
In an increasingly complex world something simple remains at the heart of small business success – good relations. From close-knit staff relations, to familial bonds in family- run businesses, maintaining good associations is essential to the bottom line. And of course, there’s the core connection between business and customer, where marketing and personal service have a part to play. If all these relationships are managed skilfully and sensitively, small businesses can gain a comparative advantage that bigger competitors can only dream of.
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Small to Medium Business: A World of Business
Part 12 of 13
As we have seen from earlier programs, the modern economy invites small business to play in a global arena, alongside much bigger competitors. But it’s not an economic model unknown to us. Australians have been trading goods for thousands of years. From the bartering of pre-European Australia to today’s globalised free trade, importing and exporting have always been a big part of Australia’s economic story. However, trading remains a daunting prospect for small business. We attempt to demystify the process with the help of government agencies, old hands, and young players.
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Small to Medium Business: SME Culture
Part 13 of 13
Small business – especially family operated small business – tends to measure success by factors beyond the bottom line. It’s a valuable and unique part of the culture of small business. In this final program we look at the variety of ways in which small business proprietors measure their performance. We’ll also look at what happens when things go wrong. What are the main reasons for failure? We examine the importance of exit strategies, and the implications of bankruptcy.
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 The series From S to M: small to medium business in Australia is produced with the support of Open Learning Australia
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