Australia
A roadmap for mid-market business owners

 


A roadmap for mid-market business owners

The middle market, dominated by privately owned and family owned businesses, represents the engine room of our country's economy employing nearly a quarter of working Australians and contributes almost 40 percent of business revenue.

And yet traditionally, it doesn't have a voice. Those from the top end of town cannot be ignored because of their size and influence, while the sheer volume of small businesses makes the segment prominent. But the middle market often goes unnoticed.

For these business owners, the primary focus is the day-to-day running of the business which can make it difficult to focus on the longer term and the more strategic.

While many mid-sized businesses can grow to a certain point, they may well need assistance jumping up to the next level.

Peter Siebels
"While many mid-sized businesses can grow to a certain point, they may well need assistance jumping up to the next level."


Peter Siebels
National Managing Partner, Private Enterprise
There are other issues which concern this group's leaders – not all of them shared. Some mid-sized business owners have become directors by default and worry about their director liabilities. Others consider professional directorship as a future career. Then there are those who simply need more support to run their businesses.

To meet such needs, the Australian Institute of Company Directors (AICD) has created the Directing Growth Program. This aims to facilitate the development of good governance structures, to deliver a roadmap for growth and provide the tools business owners need to support their long-term viability. It provides in-depth information on the critical issues facing Australian mid-sized business, and a structured forum for like-minded owners and directors of mid-sized businesses to connect on key business challenges over the course of its one-year program.

The two main components to the program are:

1. a new business owner resource centre, plus regular email updates with practical and relevant information.
2. a targeted program for owner/directors of mid-sized businesses who want to take their business to the next growth stage. This includes:

• four seminars a year run in each state, the first of which will be in October, 2014 
• a member-only online portal featuring high-quality customised content, new business tools and Q&As, podcasts/videos, webinars and more
• interactive discussions via closed social media groups
• informal networking opportunities.

The program offers a blended learning approach. This means participants can benefit from online learning in their own time while also attending seminars. This gives them the additional benefit of face-to-face learning and networking with their peers.

While there are lots of networking groups for entrepreneurs and business owners, AICD’s program distinguishes itself by creating a community for like-minded directors underpinned by a robust and practical learning program which will join the dots between governance and sustainable growth.

It is clear to KPMG that this section of the market needs support. To this end it is collaborating with AICD on its program to provide the necessary road map for growth for this important section of our economy.

For further information about the Directing Growth Program visit the AICD website.

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