As we approach 2022, the full extent of the economic fallout of the pandemic is starting to reveal itself and repayment compliance is back on the agenda. Many businesses will thrive, but others won’t survive.
In this edition the team explore what 2022 holds for small business owners, the economic health of the nation and the ever-growing issue of staff attraction and retention. Plus, we caught up with commercial lawyer, Rod Barnett to talk about how relationships can make all the difference in insolvency matters.
We are here to support you and your clients with restructuring and recovery options and provide company or personal insolvency guidance.
We hope you find our final, monthly newsletter for 2021 insightful.
We hope you have enjoyed our monthly insights newsletter. If you have any feedback around topics you’d like us to cover in future editions, please get in touch.
Best regards, The Restructuring and Recovery team
A PERSONALISED OPTIONS REPORT
Our goal is to take the stress out of financial difficulties by equipping people with all the knowledge they need to take a confident next step.
Our new Options Report process includes four key steps:
Discuss and understand - A no-cost, confidential meeting.
Assess, review and recommend - Retained confidentially to undertake an assessment and review of the current financial position.
Implementation plan - Clients choose their preferred option, RSM can assist to plan for the implementation or appointment.
Commencement - RSM are appointed to commence the agreed appointment.
BLOG POST
What will 2022 look like for small business owners?
This month we spoke to Jonathon Colbran FCA, RSM Partner Restructuring and Recovery.
He shared his predictions for 2022 and why he believes small business owners and company directors should have a plan A and a plan B in place.
Frank Lo Pilato, RSM Partner Restructuring and Recovery, has established countless, trusted business partnerships during his 30 year career with RSM. Hear from him and one of his regular referrers, Rodney Barnett, who has practiced law in the Commercial Sector in the ACT continuously since 1975.
Case Study: Building solid professional relationships
SECTOR SPOTLIGHT
ATTRACTING AND RETAINING STAFF
“After 20 months of closed borders, professional firms are bracing for an exodus of young talent. Business leaders expect pent-up demand will make the already tight labour market even tighter.” Australian Financial Review
Attracting and retaining staff isn’t only a concern for professional service organisations, the challenge is wide-spread. The hospitality, agriculture and aged care sectors are just a few of the other sectors impacted by a labour or skills shortage. Worker shortages have inspired an incentive-based recruitment drive by a prominent aged care provider in Kalgoorlie-Boulder, WA.
ABC News has reported that the aged care provider is offering to pay for their employee’s study and work expenses. Australian Venue Co. which operates more than 170 hospitality venues across the country, has launched a recruitment drive to bring in 500 hospitality workers from the UK.
According to The Guardian, the group is trying to lure staff with the promise of a $1,000 drinking and dining voucher, and will pay for flights to Australia, hotel quarantine and two weeks of accommodation. The RSM team knows that staffing and skills shortages can have major financial implications. If you or your clients need to discuss your financial options, including potential tactics to increase your cash flow, get in touch - we are here to help.
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