New systems and processes are in the plans ahead for the New Year as a way to boost business, according to the latest MYOB survey.
MYOB surveyed close to 200 to SME in December 2012 and found for 51 per cent of them, improving their systems and processes will be the top priority for 2013.
This is followed by 35 per cent of businesses who will spend time working on their business rather than in it and 32 per cent who plan to increase their customer acquisition activities.
“Hopefully this year we’ll see a move away from the record-breaking small business insolvencies experienced in 2012. It’s encouraging to find SME operators prioritising activities that focus on increasing their productivity, their service offering and the stickiness of their clients,” MYOB CEO Tim Reed said.
Interestingly, the survey also showed 6 per cent plan to sell their business in 2013, which was almost offset by the 5 per cent who plan to start another.
“There are several strategies to help transform your business so it’s in top shape for the year ahead. These include revisiting your business plan with a trusted business advisor, investing in new and improved equipment and exploring ways to re-energise your team.”