Despite Australia’s next generation of family business leaders remaining more confident and better prepared for senior roles, they are facing more challenges than ever, according to a new report from PwC. PwC’s global Next Generation Survey showed almost one third of the next generation think family businesses are slower than other types of businesses to keep up with new technology, and 40 per cent said they had experienced frustration trying to get new ideas accepted by family members. “It’s understandable the current generation is cautious about making big investments in digita..
As detailed in the recently released Australian Small Business White Paper, produced by the IPA Deakin University SME Research Partnership, securing finance and funding is one of the most critical issues for small businesses in Australia. In particular, the Small Business White Paper highlighted funding problems faced by young firms in uncertain technological or new knowledge environments – because of their unattractiveness to bank lenders. While still a very young sector in Australia, crowdfunding has already proven to be an effective funding platform for new business in other markets..