With the resources boom slowly coming to an end in the last 12 months, and jobs being retrenched and hiring almost completely ceasing, the two speed economy which gripped Perth for so long may come under control with a shift away from resources. As a result an area which is set to really recover and prosper in the long term is the Small-Medium Business market!
The banks have also relaxed their lending criteria for businesses which has given the market a significant boost and is creating many business opportunities. Traditionally most banks have been wary in assisting investment in this sector, however with certain economic factors, such as interest rates hitting record lows, this has allowed their investment in the sector to increase.
A large proportion of baby boomers with owner/operator businesses are currently seeking to act on exit strategies to sell out and retire, some have been waiting for quite some time as a result of external factors making other options more attractive for the younger market. Due to the market stagnating, there are numerous attractive business options in sectors such as Service, Hospitality and Retail. There are numerous opportunities for a fresh outlook to take some businesses to new and extraordinary heights.
For those looking to invest there are many options for businesses under management which have the capacity to provide a handsome income to their owners if the right personnel are involved with the day to day running.
So if you are looking for a sea change from a salary/wage and are keen to be your own boss and don’t mind a challenge or two, running your own business may be what you are looking for.
Snr Accountant – OPTIMA PARTNERS