SMEs delay exit from business in downturn
A new study into Australia’s small-to-medium enterprises (SMEs) by national accounting firm RSM Bird Cameron has found that many business owners are delaying their exit date due to the effects of the economic crisis.
The ‘ThinkBIG’ study revealed that nearly one in five are delaying the exit process, as they become increasingly concerned about cash flow management.
Less than half of SME owners have plans to invest retirement funds in superannuation, and 53 percent are dependant on the disposal of their business as their main source of retirement funds.
Interestingly more than half of SMEs admitted to going into business to be their own boss and get work/life balance, with building wealth low on the priority list.
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