SMBs would do it all again but improve work life balance

Media Release, 05 August 2013


A survey of some of Australia’s best small and medium businesses has found a third would improve their work life balance or their initial marketing plan if they started again.

The poll of 126 state and territory winners and finalists of the 2013 Telstra Australian Business Awards also found 21 per cent would seek greater financial backing or spend more time on their business plan before their launch.

Determination was rated as the most important characteristic for business success followed by vision, integrity, leadership and resilience.

The businesses participated in the poll ahead of the national finals of the 21st Telstra Australian Business Awards in Sydney on 22 August.

The snapshot of insights from Australia’s best small and medium businesses in the Awards also found:

  • Half the business owners started their companies aged 26 to 35 with the youngest 19 and the oldest to take the plunge aged 57.
  • For 29 per cent, the driver to starting their own business was a desire to break away from existing employers and use their skills for themselves while another 19 per cent turned a hobby or passion into a business venture;
  • Seven out of ten business owners or managers have engaged a business mentor;
  • Forty per cent felt business conditions would be better in the 2014 financial year than in 2013 while 32 per cent per cent said they’d stay the same and 16 per cent believed they would be worse;
  • They were more upbeat about their own business growth with 43 per cent very confident and another 50 per cent confident about their business growth in the coming six months;
  • Asked about their biggest current challenge, 26 per cent nominated higher costs and their impact on margins, a quarter chose managing cash flow and 13 per cent said a shortage of skilled labor;
  • Nine out of ten said their productivity increased with new technology – 74 per cent are using tablets 69 per cent cloud computing and seven out of 10 businesses allow their staff to access their business server remotely;
  • Ninety-two per cent of the businesses say they have a social media presence.

Telstra Business Executive Director Managed Customer Sales and Service, David Coventry, said the 2013 Awards finalists were a diverse group of businesses whose passion had driven them to deserved success.

“The poll of finalists in the 21st year of the Awards shows that successful businesses are embracing all forms of technology and using it to give their staff flexibility to work outside the office and on the road. Almost a third are using videoconferencing and nearly half use collaboration software.

“The results also show the importance that successful small and medium businesses place on connecting with their customers via social media.”

The national finalists will compete in categories for Start-Up Businesses (operating for one to three years), Micro Businesses (up to five employees), Small Businesses (up to 20 employees), Medium Businesses (up to 200 employees), Regional Businesses and the title of Telstra Australian Business of the Year. They are:
 

Start-Up Award

 

Micro-Business Award

Bli Bli House

QLD

 

Canberra Furnished Accommodation

ACT

Health.com.au

VIC

 

ENIQUEST

QLD

NPB Security Australia

WA

 

Great Ocean Road Surf Tours

VIC

Off-Grid Energy Australia

SA

 

italklibrary

NT

Shop Handmade Canberra

ACT

 

Jump Tours

TAS

Tasmanian Air Adventures

TAS

 

StepBeyond Business Advisors

WA

WiTH Collective

NSW

 

Synotronics Pty Ltd

SA

 

 

 

Wicked Berries Pty Ltd

NSW

Small Business Award

 

Medium Business Award

braaap

VIC

 

ADAMS Group

WA

Bruny Island Cheese Co.

TAS

 

Becker Helicopter Services Pty Ltd

QLD

BRS

SA

 

Cairns Industries Pty Ltd

NT

Burleigh Brewing Company

QLD

 

Collins SBA Complete Wealth Specialist

TAS

Marketing Mechanics

NSW

 

Connective

VIC

MUWAY CONSTRUCTIONS

WA

 

Fifth Quadrant

NSW

Residential Reports

ACT

 

Rudds Consulting Engineers

ACT

Top End Pest Control

NT

 

Suntrix Pty Ltd

SA

Telstra Regional Award

 

Telstra Australian Business of the Year

 

Boundary Bend Olives Pty Ltd

VIC

 

ADAMS Group

WA

Bruny Island Cheese Co.

TAS

 

Braaap

VIC

Cairns Industries Pty Ltd

NT

 

Bruny Island Cheese Co.

TAS

General Trade Industries

QLD

 

Burleigh Brewing Company

QLD

iKOU

NSW

 

Fifth Quadrant

NSW

MUWAY CONSTRUCTIONS

WA

 

Rudds Consulting Engineers

ACT

Richard Gunner’s Fine Meats

SA

 

Suntrix Pty Ltd

SA

 

 

 

Top End Pest Control

NT


Winners of the 2013 Awards will share in more than $500,000 in cash and business products, which is split among state, territory and national winners. For more information about the Awards winners, or to nominate for the 2014 Telstra Australian Business Awards, visit the Telstra Business Awards Website.

Note for Editors: the poll of TBA finalists was conducted between 28 June and 10 July.