study released today conducted through September reveals the surprising hidden
potential in mature SME businesses across the country, and what needs to be
done to help these businesses grow further.
The author of the study, Mike Boorn Plener, of Business Connector in Sydney says: “When we started the study we intended to get a pulse on what’s happening right now across this very important section of the economy, but I was surprised by some of the findings.”
Some of the key findings of the study include:
• The economic outlook is bright, with 53% of business owners expecting significant growth in the next two years
• 74% of significant SME businesses have un–developed or under–developed potential waiting to be realised and commercialised
• The majority of business owners cannot fully identify and quantify IP, thereby essentially ‘leaving money on the table’
• A whopping 61% of businesses sit on mostly undeveloped export potential (compared to less than 10% of all Australian businesses being exporters), revealing a major gap waiting to be closed
• Only 29% of business owners have the necessary contacts to take advantage of government assistance and funding
The brief study summary is available for download here: http://www.businessconnector.com.au/state-of-smes/
is Executive Producer of Grants Connector, which addresses these issues for
SMEs. While the focus is on grants and government assistance, it covers topics
from business planning to export development, and includes 10 expert speakers
from government and advisory firms. Details are here:
owners are seeing that traditional options for getting finance are dwindling
and often do not know that there are over 600 government funding options
available – and furthermore don’t know how to start the process,” said Mr
Plener. “Through Grants Connector we’re closing this gap by bringing the experts
to the SME community.”
So how important are grants in helping SMEs grow and take on the world?
Andrew Dowling, Founder of Tapestry, puts it this way: “Commercialisation Australia funding has allowed us to develop the platform for Tapestry and take the first steps into the US market. The assistance and guidance from Commercialisation Australia’s case manager has been invaluable, and the process has been great for our growth”
“While many people see a grant as a grant, the flow-on effect has been profound. CA worked as a strong sign of credibility as we were going to the US market. Especially if you have a corporate target market, getting any kind of competitive funding will be seen as a mark of approval,” concludes Andrew from Tapestry.
High resolution images and interviews are available on request.
Mike Boorn Plener
0413 313 314
About Business Connector
The purpose of Business Connector is to be the leading catalyst for better growth and development of the Australian SME sector.
In our view entrepreneurs most commonly need a combination of toolset + mindset + connections to bring them into a position where they can not only establish the viability of their business, but safely grow it from a fledgling to a significant and successful enterprise.
We provide tools and knowledge through a broad series of events where people get to come face–to–face with the real experts as well as business networking where people get to create new quality business relationships. A range of publications, ebooks and downloadable tools are being released with our inner–core partners to supplement these.
Tapestry is a tablet application and social platform that helps Australian seniors stay connected to the people who care for them, by allowing them to take advantage of today’s social media applications in an easy-to-use way without worrying about privacy and security.
Tapestry has been selected as a feature company for the Australian Federal Government funded, Advance Innovation Program. The program seeks to help Australian companies that have high potential to become global businesses, and has helped Tapestry travel to Silicon Valley to build networks with investors, partners and customers as Tapestry seeks to expand into the US market.
At Business Connector we believe that Australian SME businesses have a massive untapped potential. And only by bringing people together and connecting business owners with each other and with people from large enterprises and government can we together grow what is the most important sector in Australia's future.
Mike Boorn Plener, Managing Director
P: 0413 313 314