TWO of the region's most respected business advisory and accountancy firms will put their heads together to deliver a free, four-part presentation series covering the fundamentals of business growth and management in Queanbeyan.
Commencing on Monday evening at The Q and supported by Capital Region BEC, representatives from Canberra's Nexis Accountants and Business Advisors and Queanbeyan's own business and legal advisory firm Elringtons will kick off the series with a number of strategies and techniques for increasing the value of your business.
Nexus partner Domenic Stramandinoli will run business owners through a range of best practice procedures and systems, and said the capacity for business growth was marked.
"The potential benefits on offer include highlighting the need to seek advice about how to grow the business in a way that's sustainable," Mr Stramandinoli said.
"We'll also highlight ideas and concepts of growing the business, so when it does come time to sell they can maximise the sale price by having more options available to them.
"Our information is applicable to all small and medium business, especially those businesses where systems can be created so there's less owner reliance," he said.
Some key concepts included performance benchmarking and profit optimisation techniques, to help owners make informed decisions before money is outlaid.
"We also take them through an employee incentive program so they can motivate and retain their key employees," Mr Stramandinoli said. "Retaining key staff is fundamental to business success, and when employees have some sort of buy into the business then they can really help the business to grow, which ultimately increases the value of the business."
Elringtons partner Craig Painter will also share some of his broad experience on Monday, with a focus on occupational health and safety (OH&S) compliance.
"It's important to be across this, because if a business doesn't comply with the regulation there's potentially jail time and up to $3 million in fines. So I think that's a pretty good incentive," Mr Painter said.
"And it's not just for larger businesses; the obligation is on all businesses, small and large, to comply," he said.
The first presentation of the four-part Business Fundamentals series will run on Monday evening from 6pm to 8pm at the Q Theatre, 253 Crawford Street, Queanbeyan.Admission is free, but to register your attendance visit www.nexis.net.au/bfs or www.crbec.com.au.
The series will run over consecutive Monday nights, and the 'How to increase the value of your business' presentation will be followed by 'Are staff adding value to your business?' on Monday September 3, 'Planning for the Future' on Monday September 10, and 'Preparing your business for sale' on Monday September 17.