SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK INDEX [Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Completed By
Date Completed
ACTION LIST REPORT FINANCIAL REVIEW FINANCIAL ACCOUNTS REVIEW GROSS PROFIT ANALYSIS REVIEW WAGES TO TURNOVER ANALYSIS REVIEW NET PROFIT BEFORE TAX PERCENTAGE ANALYSIS REVIEW DEBTORS DAYS OUTSTANDING CALCULATOR DEBTORS REVIEW FIXED ASSETS REVIEW MARKET AND CUSTOMERS REVIEW MARKET REVIEW MARKETING REVIEW SALES REVIEW CUSTOMERS REVIEW SALES ANALYSIS AND REVIEW SALES TARGETS CASHFLOW REVIEW CASHFLOW FORECASTS & BUDGET REVIEW CASHFLOW FORECAST - SHORT TERM PERFORMANCE ANALYSIS BENCHMARKING REVIEW BUSINESS OPERATIONS REVIEW COST REVIEW STOCK (INVENTORY) REVIEW WORK IN PROGRESS REVIEW TEAM MEMBER REVIEW BANKS' / LENDERS' REVIEW LEADERSHIP ISSUES REVIEW BUSINESS STRATEGIES REVIEW INSURANCE REVIEW SUPPLIERS REVIEW EXPORTERS REVIEW IMPORTERS REVIEW FRANCHISING - FRANCHISEES' QUESTIONS REVIEW FRANCHISING - FRANCHISORS' QUESTIONS REVIEW PROPERTY INVESTMENTS REVIEW THEFT & PILFERAGE WASTAGE REVIEW RISK MANAGEMENT STRATEGIES REVIEW SUCCESSION PLANNING FOR THE BUSINESS CHECK LIST BUSINESS EXPANSION / ACQUISITION REVIEW SUCCESSION PLANNING PERSONAL SUCCESSION PLANNING PERSONAL CHECK LIST
20/07/2014 9:05 AM
© - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Index (1 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK ACTION LIST REPORT [Insert Business Name] [Insert File Number (Optional)] [Insert Report Month] Back to Index
Actioned By BANKS' / LENDERS' REVIEW What specific actions are required from the Banks'/Lenders' Review?
BENCHMARKING REVIEW What strategies do you propose to implement to improve the business performance against the benchmark review?
BUSINESS EXPANSION / ACQUISITION REVIEW What specific actions are required from the Business Expansion/Acquisition Review?
BUSINESS STRATEGIES REVIEW What specific actions are required from the Business Strategies Review?
CASHFLOW FORECASTS & BUDGET REVIEW What specific actions are required from the Cashflow Forecasts & Budgets Review?
COST REVIEW 1.1 Prime Cost (Cost of Sales Review)
1.2 Analysis Of Prime Costs
1.3 Foreign Exchange Rate affect on Prime Costs
1.4 Strategies To Be Taken On Prime Costs
2.1 Overhead Costs Review
2.2 Analysis Of Overhead Costs
2.3 Strategies To Be Taken On Overhead Costs
2.4 Advertising Cost Evaluation (if required)
2.5 Marketing Cost Evaluation (if required)
2.6 Travelling & Accommodation Cost Evaluation (if required)
2.7
2.8
2.9
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Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Report (3 of 65)
Date Actioned
CUSTOMERS REVIEW Are there any changes that you plan to make to your management of customers?
DEBTORS DAYS OUTSTANDING CALCULATOR
DEBTORS REVIEW Are there any changes that the business wishes to make to its Debtors' Management?
EXPORTERS REVIEW What specific actions are required from the Exporters Review?
FINANCIAL ACCOUNTS REVIEW What specific actions are required from the Financial Accounts Review?
FIXED ASSETS REVIEW What specific actions are required from the Fixed Assets Review?
FRANCHISING - FRANCHISEES' QUESTIONS REVIEW Does your business have any queries in relation to becoming a franchisee?
FRANCHISING - FRANCHISORS' QUESTIONS REVIEW What specific actions are required from the "Franchising - Franchisors Questions" review?
GROSS PROFIT ANALYSIS REVIEW Strategies To Be Taken On Gross Profit % Department/Section or Product Strategies:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Report (4 of 65)
Action:
IMPORTERS REVIEW What specific actions are required from the Importers Review?
INSURANCE REVIEW What specific actions are required from the Insurance Review?
LEADERSHIP ISSUES REVIEW What specific actions are required from the Leadership Issues Review?
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Report (5 of 65)
MARKET REVIEW What specific actions are required from the Market Review?
MARKETING REVIEW What specific actions are required from the Marketing Review?
SALES TARGETS Business Building Matrix (Example)
A worksheet for determining Sales Targets is as follows:
NET PROFIT BEFORE TAX PERCENTAGE ANALYSIS REVIEW What specific actions are required from the Net Profit Before Tax Percentage Review?
PROPERTY INVESTMENTS REVIEW What specific actions are required from the Property Investments Review?
RISK MANAGEMENT STRATEGIES REVIEW What specific actions are required from the Risk Management Strategies Review?
SALES REVIEW What specific actions are required from the Sales Review?
SALES ANALYSIS AND REVIEW Review of Major Customers
STOCK (INVENTORY) REVIEW What specific actions are required from the Stock (Inventory) Review?
SUCCESSION PLANNING FOR THE BUSINESS CHECK LIST What specific actions are required from the Succession Planning for the Business Checklist?
SUCCESSION PLANNING PERSONAL CHECK LIST What specific actions are required from the Succession Planning Personal Checklist?
SUPPLIERS REVIEW What specific actions are required from the Suppliers Review?
TEAM MEMBER REVIEW What specific actions are required from the Team Member Review?
THEFT & PILFERAGE What specific actions are required from the Theft & Pilferage Review?
WAGES TO TURNOVER ANALYSIS REVIEW Strategies To Be Taken On Wages % to Department/Section Turnover
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Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Report (6 of 65)
What specific actions are required from the Wages to Turnover Review?
WASTAGE REVIEW What specific actions are required from the Wastage Review?
WORK IN PROGRESS REVIEW What specific actions are required from the Work in Progress Review?
Back to Index
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Report (8 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK BANKS' / LENDERS' REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Bankers / Lenders
1.
2.
Is your business able to provide prompt, accurate information to your banker/lender including: Trading and Profit & Loss Accounts? Profit & Loss Ratio Analysis? Balance Sheet? Balance Sheet Ratio Analysis? Key Performance Indicators? Debtors' Aged Analysis Creditors' Aged Analysis? 3-Months Cashflow Forecast? Updated Budgets? Comments:
Does your business need to make changes to its systems so that information required by your banker/lender can be promptly supplied? Details:
Yes Yes Yes Yes
No No No No
Yes Yes Yes
No No No
Yes Yes
No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Comments:
3.
Does your business need to make changes/improvements to ensure targeted deadline dates for reporting to banks/lenders are met? Details: Comments:
4.
Has there been a review of loans from bankers/lenders? Comments:
5.
Has your business considered locking in interest rates in the first half of 2015 before the expected increase in interest rates towards the middle of 2015? Comments:
6.
Has your business reviewed its loan covenants to ensure compliance with the bank's/lender's requirements? Comments:
7.
Has your business identified any loan covenants not performing to the bank's/lender's requirements? Comments:
8.
Can your business prepare a list of these covenants and determine strategies to ensure compliance with the bank's/lender's requirements? Comments:
9.
$
What is the business' bank overdraft limit? Comments:
Yes
No
Yes
No
10. Has the overdraft gone into credit in the last month? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Banks & Lenders (9 of 65)
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes Yes
No No No
Yes Yes Yes
No No
Yes
No
Yes
No
Yes
No
11. Should you be approaching the bank to convert part of the bank overdraft into a term loan? Comments:
12. Is your business using credit cards for the payment of expenses? (Go to Q15)
Comments:
13. Are the business' credit cards being paid before the due date each month? Comments:
14. Has your business developed strategies for the reduction of outstanding debts or additional borrowings? eg‌ Debtors' Factoring/Financing? Improvement in Debtors' Management System so as to reduce "debtors days outstanding"? Use of "Debtors' Days Outstanding Calculator" do monitor Debtors' Days Outstanding? Sale of unused or under-utilised fixed assets? Reduction in stock on hand? Reduction in work-in-progress? Cost reductions? Other? Comments:
No
15. Has your busines conducted a financial stress test to identify best and worst case scenarios for your business performance? Comments:
16. Has your business considered having discussions with other banks/lenders in relation to facilities for your business? Comments:
17. Are changes necessary for your business to adopt relative to maintaining a strong relationship with your bank/lender? Comments:
18. What specific actions are required from the Banks'/Lenders' Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Banks & Lenders (10 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK BENCHMARKING REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Business Monitoring
1.
Have you benchmarked your business against other businesses?
Yes
No
(Go to Q3) Yes
2.
No
If "No", do you plan to undertake benchmarking? (Go to Q7)
Comments:
3.
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes Yes Yes Yes Yes
No No No No No No
Did the Benchmarking Report indicate that the business was performing better than the benchmark review in some areas? Comments:
4.
Can you implement any further strategies to maximise performance in these areas? Comments:
5.
Did the Benchmarking Report indicate that the business was below the benchmark review in some areas? Comments:
6.
Which benchmarking items are used: Financial Figures? Non-financial Factors? Key Performance Indicators (KPIs): Income per Team Member? Cost per Team Member? Labour Productivity Sales per square metre of space? Gross Profit Percentage? Wages to Turnover Percentage? Reject Percentage? Debtors Days Outstanding? Creditors Days Outstanding? Comments:
7.
What strategies do you propose to implement to improve the business performance against the benchmark review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Benchmarking (11 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK BUSINESS EXPANSION / ACQUISITION REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Buying A Business
1.
Has your business developed strategies to expand the business?
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Comments:
2.
Will the expanded business compliment the business' "core competencies"? Comments:-
3.
Does your business have proposals to acquire another business? Comments:
4.
Will the acquired business be within the "core competencies" of the business' management team? Comments:
5.
What additional management skills have been identified as being necessary to successfully manage the expanded or new businesses? Comments:
6.
Has there been a detailed evaluation of the vendor business' customer base relating to: Will the customer survive in the difficult trading conditions? Has there been a realistic calculation on the probable level of sales to individual customers for the next two years? Comments:
7.
After evaluation of individual customer's potential purchases over the next couple of years, is management satisfied that the required level of sales can be achieved by the targeted business? Comments:
8.
What specific actions are required from the Business Expansion/Acquisition Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Business Expansion (12 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK BUSINESS STRATEGIES REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Steps To Ensure Peak Business Fitness Culture is Important Avoiding Problems
1.
Yes
No
Yes
No
Has your business identified your business' "unique selling proposition"? Comments:
2.
Does your business deliver outstanding service to customers at all times? Comments:
3.
Does management conduct "brainstorming" sessions with team members? (Go to Q5)
Comments:
4.
Yes Yes
How often are "brainstorming" sessions conducted:
Daily?Yes Weekly?Yes Monthly? Other?
No No No No
Comments:
5.
Yes
No
Yes
No
Is management allocating "quality time" to work "on the business"? Comments:
6.
Does your business demonstrate a "can do" attitude? (Go to Q8)
Comments:
7.
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes
No No
Yes Yes Yes
No No No
Yes
No
Do you need to develop new "can do" strategies? Comments:
8.
9.
Does your business have attributes to make it successful, including: management listening to team members? team members listening to customers? team members listening to suppliers? Comments:
Does your business encourage loyalty from team members, suppliers and customers by the use of: customer databases? customer surveys? website up-to-date? testing the market for new products? Comments:
10. Has your business created strategic alliances with? other people in your industry? suppliers? similar businesses in other locations? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Business Strategies (13 of 65)
Yes
No
Yes Yes
No No
Yes
No
Yes Yes
No No
Yes Yes Yes
No No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
11. Does your business encourage the development of "culture"? Comments:
12. Does your business embrace these "culture" concepts: Do people communicate openly and effectively? Is the telephone answered in a professional manner? Are telephone calls replied to promptly? Are emails responded to promptly? Are products/services delivered on time? Are products/services produced at the required workmanship level? Is quality an important item? Are your team members pleasant and presentable? Comments:
13. Are decisions by Federal Government, State Government and Local Government Councils on programmes likely to affect business conditions in your area of operation? Comments:
14. Has your business developed, or is it proposing to develop, strategies to react to the changes in Government and Local Government Council programmes in your area? Comments:
15
Does your business know the breakeven level of operations in each segment of your business? Comments:
16
If not - will you ask your accountant to calculate the breakeven level of operations? Comments:
17
Has your business developed a business network to obtain advice and feedback? Comments:
18
Has the business developed strategies for the current year? Comments:
19
If your business is a tenant and the lease is due for renewal - has your business considered trying to negotiate for rent incentives? Comments:
20
What specific actions are required from the Business Strategies Review? Action:
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Business Strategies (14 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK CASHFLOW FORECASTS & BUDGET REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Cashflow Forecats & Budgets Are Important Taxation
1.
Has the business prepared Budgets for the current financial year?
2.
Has the business evaluated actual performance against the Budgets?
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Comments:
3.
Have trends been identified? Details: Comments:
4.
Has the business calculated "What If" scenarios? Details: Comments:
5.
Has the business prepared an updated 12-monthly Cashflow Forecast? Comments:
6.
Does the Cashflow Forecast identify that the business will need to raise additional funds? Comments:
7.
How much needs to be raised? Comments:
8.
What are the strategies for raising additional funds: Bank/Finance Company Loan? (Go to Q9)
Bank Overdraft? (Go to Q9)
Private Loan? Sale of a property? (Go to Q10)
Own funds? Equity capital? Debtors' Factoring / Financing? Comments:
9.
If the strategy is to apply for an additional loan or extra bank overdraft facility: Amount of loan or overdraft facility? Period of loan? Security offered: Value of security offered? Debt to Security % Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Cashflow Forecasts Budgets (15 of 65)
10. If you are planning to sell a property(s): Property 1 Details: Estimated Sales Price? Less estimated agents commission and selling costs? Estimated Net Proceeds after agent's fees and selling costs? Less any mortgages on the property(s) Estimated Net Return from property sale? Property 2 Details: Estimated Sales Price? Less estimated agents commission and selling costs? Estimated Net Proceeds after agent's fees and selling costs? Less any mortgages on the property(s) Estimated Net Return from property sale? Property 3 Details: Estimated Sales Price? Less estimated agents commission and selling costs? Estimated Net Proceeds after agent's fees and selling costs? Less any mortgages on the property(s) Estimated Net Return from property sale? Property 4 Details: Estimated Sales Price? Less estimated agents commission and selling costs? Estimated Net Proceeds after agent's fees and selling costs? Less any mortgages on the property(s) Estimated Net Return from property sale? Comments:
11. The total estimated net return from property sales (after repayment of mortgages). Funds targeted to be raised? Surplus/(Shortfall)? Comments:
12. If the business needs to raise equity capital, how much?
Yes
No
Yes Yes Yes
No No No
Yes
No
Yes Yes
No No
Yes
No
Yes Yes Yes
No No No
Yes Yes Yes
No No No
Yes
No
Yes
No
Comments:
13. Has the business thought about the number of shares to be issued? Details: Comments:
14. To raise equity capital, the business will need to prepare documents for submission to business angels/venture capitalists. Has the business prepared: Market Research? Export Market Research? Marketing Plan? Executive Job Descriptions? Organisational Chart? Intellectual Property Summary? Business Plan, incorporating: Budgets - 3 years? Cashflow Forecasts - 3 years? Business Valuation? Current Financial Accounts: Profit & Loss Account? Balance Sheet? Due Diligence Checklist? Comments:
15. Does the business track cashflow on a weekly basis, analysing the probable cash/overdraft balances for the next four to five weeks? Comments:
16. It is recommended that all businesses should track cashflow on a weekly basis.
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Cashflow Forecasts Budgets (16 of 65)
Comments:
17. Is too much money being taken out of the business in drawings, owner salaries or personal drawings? Comments: Yes
No
Yes
No
Yes
No
18. What is the business going to do to reduce excessive drawings? Comments:
19. Has the business discussed the business' Cashflow Forecasts with its banker? Comments:
20. Have you reviewed the Australian Taxation Office Benchmarks for your trade/industry (Go to Q21)
Do you need to discuss variations between your peers and the ATO Benchmarks with your accountant? Comments:
21. What specific actions are required from the Cashflow Forecasts & Budgets Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Cashflow Forecasts Budgets (17 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK CASHFLOW FORECAST - SHORT TERM Back to Index
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Week Ending
Week Ending
Week Ending
Week Ending
Week Ending
Balance b/f Forecast Receipts Cash Sales Debtors Others (Details)
Total Receipts Sub Total
$ $
-
$ $
-
$ $
-
$ $
-
$ $
-
Total Payments
$
-
$
-
$
-
$
-
$
-
Balance c/f
$
-
$
-
$
-
$
-
$
-
Less Forecast Payments Wages PAYG Tax Superanuation Creditors Credit Cards (Details)
Loan Payments (Details
Others(Details)
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Cash Flow Calc (18 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK COST REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Cost Review
1.1 Prime Cost (Cost of Sales Review) No of Months to date Previous Financial Monthly Year Average
Year To Date
Monthly Average
Raw Materials Purchases for resale Frieght In Other Prime Costs:-
Action:
1.2 Analysis Of Prime Costs Action:
1.3 Foreign Exchange Rate affect on Prime Costs Action:
1.4 Strategies To Be Taken On Prime Costs Action By Whom By When
Item/Strategies
Action:
2.1 Overhead Costs Review Can any overhead costs be reduced?
Cost Item
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Accountancy Advertising Costs Bank Charges Bookkeeping Expenses Borrowing Costs Cleaning Computer Expenses Data Processing Charges Depreciation Directors' Salaries Donations Electricity Entertainment Expenses
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Cost (19 of 65)
Fees & Permits Freight & Cartage Fuel & Oil Hire of Plant & Equipment Insurance Interest Internet Expenses Leasing Charges Licensing Fees Materials & Consumables Medical & Inductions Memberships - Trade Motor Vehicle Expenses Payroll Tax Permits, Licences & Fees Printing & Stationery Professional Fees Protective Clothing & Equipment Rates & Taxes Registration Fees Rent Repairs & Maintenance Safety Equipment Salaries Security Costs Staff Training & Welfare Staff Amenities Staff Recruitment Subcontractors Sundry Expenses Superannuation Contributions Telephone Tool Replacement Travelling Expenses Wages Waste Disposal Website Maintenance Workers' Compensation TOTAL: $
-
$
-
Action:
2.2 Analysis Of Overhead Costs Actions on Trends
Action:
2.3 Strategies To Be Taken On Overhead Costs Action By Whom By When
Item/Strategies
Action:
2.4 Advertising Cost Evaluation (if required)
Advertising Projects
20/07/2014 9:05 AM
Previous Financial Year
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Monthly Average
Year To Date
Monthly Average
Adjusted Cost Estimate
Cost (20 of 65)
Action:
2.5 Marketing Cost Evaluation (if required)
Marketing Projects
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Adjusted Cost Estimate
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Adjusted Cost Estimate
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Adjusted Cost Estimate
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Adjusted Cost Estimate
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Adjusted Cost Estimate
Action:
2.6 Travelling & Accommodation Cost Evaluation (if required)
Travelling & Accommodation Projects
Action:
2.7
Action:
2.8
Action:
2.9
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Cost (21 of 65)
Action:
Completed Date By Completed
20/07/2014 9:05 AM
© - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Cost (22 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK CUSTOMERS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Customers
1.
Is there a system for new customers? Terms of Trade confirmed in writing? Directors' Guarantees (if a company)? Debt level? Confirmation of Payment Dates? Comments:
2.
Do you check the credentials of new customers? (Make sure your new customer is not someone else's problem!) Comments:
3.
Credentials to check: standard credit check? trade references? bank references? credit agency checks? Comments:
4.
Are tax invoices being: prepared promptly? prepared to customer's requirements (so as to avoid delays in payment)? Comments:
5.
6.
7.
8.
9.
Yes Yes Yes
No No No
Yes Yes
No No
Yes
No
Yes
No
Yes Yes Yes
No No No
Yes Yes
No No
Yes
No
Yes Yes
No No
Yes Yes Yes Yes
No No No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
If you are selling plant, equipment, furniture etc., on credit through your Debtors Ledger, are you lodging details with the Personal Properties Security Register? Comments:
Has your business developed a policy to keep customers happy? Do your customers trust the business? Is your business creating a feeling of trust? Have you received testimonials/videos from customers endorsing products/services? Have you placed testimonials/videos on your website? Have you conducted customer surveys to see what they like and dislike about your business? Do you promote the businesses "unique selling proposition" to customers? Comments:
Have you analysed your customers to determine the customers who generate 80% of your gross profit? (Your VIP customers). Comments:
(Go to Q9)
Have you developed specific services targeted at those VIP customers? Comments:
Do you only have one major customer? Comments:
(Go to Q12)
10. Have you analysed the potential risk to your business if something should happen to that major customer? Comments:
11. Have you considered strategies to attract some other customers so that you are not as reliant on one major customer? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Customers (23 of 65)
Yes
No
Yes
No
12. Have you monitored your customers to determine the possible affect on your business from rising unemployment? Comments:
13. What changes could you make to your business' operations to counteract the affects of rising unemployment amongst your customers? Comments:
14. Are there any changes that you plan to make to your management of customers? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Customers (24 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK DEBTORS DAYS OUTSTANDING CALCULATOR Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month] If completed now complete the Debtors Review Worksheet.
Debtors Days Outstanding Calculation: Approximate Annual Credit Sales (inc GST)
[1]
Daily Credit Sales (inc GST)
[2]
$ ‐
([1] divided by 365)
Debtors Balance (inc GST)
[3]
Debtors Days Outstanding
[4]
days
Targeted Debtors Days Outstanding
[5]
days
Targeted Debtors Balance
[6]
([3] divided by [2])
$ ‐
(([1] divided by 365) multipled by [5])
Taregeted Cashflow Improvement:
$ ‐
([3] minus [6])
20/07/2014 9:05 AM
© - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Debtors Days Outstanding (25 of 65)
Examples of Annual Credit Sales over Payment Days: Annual Credit Sales (inc GST) Average Payment Days 15 30 45 60 75 90 105 120
$ 110,000 $ 275,000 $ 550,000 $ 825,000 $ 1,100,000 $ 1,375,000 $ 1,650,000 $ 2,200,000 $ 4,520 $ 9,041 $ 13,561 $ 18,082 $ 22,602 $ 27,123 $ 31,643 $ 36,164
$ 11,301 $ 22,602 $ 33,904 $ 45,205 $ 56,506 $ 67,808 $ 79,109 $ 90,410
$ 22,602 $ 45,205 $ 67,808 $ 90,410 $ 113,013 $ 135,616 $ 158,219 $ 180,821
$ 33,904 $ 67,808 $ 101,712 $ 135,616 $ 169,520 $ 203,424 $ 237,328 $ 271,232
Now complete the Debtors Review Worksheet.
20/07/2014 9:05 AM
© - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
$ 45,205 $ 90,410 $ 135,616 $ 180,821 $ 226,027 $ 271,232 $ 316,438 $ 361,643
$ 56,506 $ 113,013 $ 169,520 $ 226,027 $ 282,534 $ 339,041 $ 395,547 $ 452,054
$ 67,808 $ 135,616 $ 203,425 $ 271,233 $ 339,041 $ 406,849 $ 474,658 $ 542,466
$ 90,410 $ 180,821 $ 271,232 $ 361,643 $ 452,054 $ 542,465 $ 632,876 $ 723,287
Completed By
Date Completed
Debtors Days Outstanding (26 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK DEBTORS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Debtors Management Debtor Finance (Factoring) Can Help
Yes
1.
No
Do you obtain Director's Guarantees from directors of companies, before opening a Debtor's Account for a company? (Go to Q3)
Yes
2.
Are the Director's Guarantees filed in a secure long-term file? Comments:
3.
Should you be obtaining Director's Guarantees? Comments:
4.
Who is/will be responsible for the maintenance of the Directors' Guarantees system? Details: Comments:
5.
Are payment arrangements, made with a debtor, confirmed in writing? Comments:
6.
7.
8.
9.
No
(Go to Q4)
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Does the business have a system for the monitoring of Debtors? Comments:
Is there prompt follow-up of Debtors with amounts owing outside stipulated terms of trade? Comments:
Do you prepare a Debtor's Aged Analysis? How often: Weekly? Monthly? Other? Comments:
Do you monitor Debtors' Accounts and the average "Debtors' Days Outstanding" weekly? Comments: (Complete Debtors Day Outstanding Calculation)
10. Do you use the "Debtors' Days Outstanding Calculator" to identify "Targeted Cashflow Improvement? Comments:
11. Do you use a Debtors Reduction Checklist to reduce the amount owing by Debtors? Comments:
12. Review of Debtors Reduction Checklist Comments:
13. Do you instigate follow up action to customers if there is a delay in payment? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Debtors (27 of 65)
14. Do you refer problem Debtors promptly to a Debt Collection Agency? Comments:
Yes
No
15. Does the business have some large customers from whom it has difficulty receiving prompt payment? Comments:
Yes
No
16. Has the business considered using a Debtors' Financing Facility (Factoring)? Comments:
Yes
No
17. Does the business offer discounts for early payment? Comments:
Yes
No
Yes
No
Yes
No
Yes Yes Yes
No No No
Yes Yes
No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes Yes
No No No
Yes Yes
No No
18. Is the business being treated as the "financier" by some of its customers? Comments:
19. Have suggestions been made to customers that they: talk to their bank in relation to extra facilities so that they can pay your account? pay your business by credit card? Comments:
20. Has the business conducted a review of its order/delivery/invoicing system in an attempt to improve recovery of money from debtors, including: On receipt of a customer's order, checking the debtors aged analysis on the status of the debtor before any more goods or services are supplied? Does the accounting department use a 'warning' flag for any customers who are behind in payments? Are details of customers who have been allocated a 'warning' flag conveyed to salespersons? Is prompt notification given to salespersons of any bad payer, who is to be treated as 'in-active'? Are credit limits established and enforced, and are the salespeople informed of them? When quotations are being given, are gross profit calculations prepared on that particular order and compared to the Department's targeted gross profit percentage? If the calculated margin is under the targeted margin, is the file referred to management before the sale is finalised? Does the business have an automatic sales confirmation system, whereby an email is sent to customers confirming their order and advising them of the price for that order and the due date for payment? Is there a procedure for new customers to be on a 'cash basis' or strictly within 30 days? Are these procedures monitored? Comments:
21. Do you perform a checklist on invoicing to improve payments, including:Does the tax invoice layout readily identify the price for that supply item and the due date for payment? Yes Does the tax invoice contain details of your bank account and Bpay details? Is the due date for payment shown on delivery dockets? Yes Are invoices processed promptly and forwarded daily to customers? Are invoices faxed or emailed to customers as well as being mailed? Are invoices being addressed to departments within the customers' business rather than an individual? (The individual may be on holidays and the envelope may remain on his/her desk for some weeks). Yes If the invoices are sent with the goods, is a copy of the tax invoice sent to the customer's accounts department? Yes Comments: Yes
22. Do you issue statements to customers? Are you faxing or emailing statements to customers? Are statements being prepared within a few days of the end of the month? Are the statements being promptly dispatched to customers? Comments:
23. Are account queries followed up as a matter of urgency? Comments:
No No
No No No
Yes
No
Yes
No
Yes
No
24. Are you using the "Debtors' Days Outstanding Calculator" to identify the Cashflow improvement that could be achieved if debtors abided by your stated payment terms? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Debtors (28 of 65)
25. Are there any changes that the business wishes to make to its Debtors' Management? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Debtors (29 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK EXPORTERS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Exporters
1.
Yes
Is the business currently exporting products/services? Comments:
(Go to Q3)
2.
Does the business insure export sales through EFIC (Export Finance Insurance Corporation), or a commercial export sales insurer? Comments:
3.
Has the business considered Export Finance Loans and Guarantees from EFIC? Comments:
4.
Is the business lodging an Export Market Development Grant Application? Comments:
5.
Does the business receive advice from its bank on export sales negotiations and payments? Comments:
6.
7.
8.
9.
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes Yes
No No No
Yes Yes Yes
No No No
Is the business purchasing forward exchange contracts to "lock-in" the currency rate at the date of sale? Comments:
Are you considering making export sales? Comments:
Has the business developed an export plan? Comments:
Has the business had discussions with Austrade? Comments:
10. Has consideration been given to appointing consultants with specific expertise in the targeted international market to assist in the development of a Market Entry Business Plan, that identifies:channel development (Distributors/Wholesalers/Representatives etc)? sales marketing in the targeted markets? potential customers? international banking systems applicable to the targeted country? terms of payment required by customers? cost of market entry? cost of export promotion? cost of market representation? Comments:
10. What specific actions are required from the Exporters Review? Action:
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Exporters (30 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK FINANCIAL ACCOUNTS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Steps To Ensure Business Survival
1.
Are your financial records updated on a regular basis, so as to enable prompt and accurate financial accounts to be prepared? Comments:
2.
Do you prepare Weekly Performance Reports? Comments:
3.
How often do you prepare Management Financial Reports comprising Departmentalised Profit & Loss Accounts and Balance Sheet? Monthly? Quarterly? Half Yearly? Annually? Other?
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes
No No
Yes
No
Comments:
4.
Do you prepare Key Performance Indicators (KPIs) in your business? (Go To Q6)
Comments:
5.
How often are Key Performance Indicators (KPIs) prepared: Daily? Weekly? Monthly? Quarterly? Half Yearly? Annually? Other?
Yes Yes
No No
Yes Yes Yes
No No No
Yes Yes
No No
Comments:
6.
What specific actions are required from the Financial Accounts Review? Action: Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Financial Accounts (31 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK FIXED ASSETS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Steps To Ensure Business Survival
1.
Does your business have any fixed assets that are not used or under-utilised? If so, please list the assets.
Yes
No (Go to Q5)
Comments:
Yes
2.
No
Should your business consider selling those unused or under-utilised assets? (Go to Q5)
Comments:
3.
What consideration do you estimate you would obtain from the sale of these assets? Estimated Net Sales Proceeds
Asset
Total
$
-
Total
$
-
Comments:
4.
What do you propose to do with the net sales proceeds? Payout mortgage? Reduce Overdraft? Increase Working Bank Account? Place on deposit? Buy another asset? Other?
Comments:
5.
What specific actions are required from the Fixed Assets Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Fixed Assets (32 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK FRANCHISING - FRANCHISEES' QUESTIONS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Franchising
1.
Yes
Is the business contemplating purchasing a franchise?
No (Go to End)
Comments:
2.
3.
Has the business: talked to other franchisees? had the legal documents checked by a solicitor? reviewed the franchise system, business documentation and franchisor's management practices? talked to your bank in relation to finance? reviewed the Franchising Council of Australia's website for information on franchising? spent a considerable amount of time in the franchise business before committing to purchase a franchise? Comments:
Yes
No
Yes Yes Yes
No No No
Yes Yes
No No
Yes
No
Does your business have any queries in relation to becoming a franchisee? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Franchising Franchisee Qs (33 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK FRANCHISING - FRANCHISORS' QUESTIONS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Franchising
1.
Has your business contemplated franchising the business?
Yes
No (Go to End)
Comments:
2.
Has your business successfully operated for the last three years? Comments:
3.
Has your business developed a complete operational, accounting and management system for the business? Comments:
4.
Have there been discussions with a Franchising Consultant in relation to the development of the Franchise System? Comments:
5.
Have there been discussions with a solicitor experienced in franchising in relation to the establishment of a Franchise System for the business? Comments:
6.
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
What specific actions are required from the "Franchising - Franchisors Questions" review? Action:
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Franchising Franchisors Qs (34 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK GROSS PROFIT ANALYSIS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Business Monitoring
1.
Department/Product/Overall Analysis Gross Profit % Previous Year To Financial Date Year Dept 1 Dept 2 Dept 3 Dept 4 Dept 5 Dept 6 Dept 7 Dept 8 Dept 9 Dept 10 Dept 11 Dept 12 Dept 13 Dept 14 Dept 15 Dept 16 Dept 17 Dept 18 Dept 19 Dept 20 Dept 21 Dept 22 Dept 23 Dept 24 Dept 25 Dept 26 Dept 27 Dept 28 Dept 29 Dept 30 Comments:
2.
Strategies To Be Taken On Gross Profit % Action
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Gross Profit Analysis (35 of 65)
Department/Section or Product Strategies: Dept 1 Strategy:
By Whom
By When
Dept 2 Strategy: Dept 3 Strategy: Dept 4 Strategy: Dept 5 Strategy: Dept 6 Strategy: Dept 7 Strategy: Dept 8 Strategy: Dept 9 Strategy: Dept 10 Strategy: Dept 11 Strategy: Dept 12 Strategy: Dept 13 Strategy: Dept 14 Strategy: Dept 15 Strategy: Dept 16 Strategy: Dept 17 Strategy: Dept 18 Strategy: Dept 19 Strategy: Dept 20 Strategy: Dept 21 Strategy: Dept 22 Strategy: Dept 23 Strategy: Dept 24 Strategy: Dept 25 Strategy: Dept 26 Strategy: Dept 27 Strategy: Dept 28 Strategy:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Gross Profit Analysis (36 of 65)
Dept 29 Strategy: Dept 30 Strategy: Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Gross Profit Analysis (37 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK IMPORTERS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Importers
1.
Is your business purchasing forward exchange contracts at the date of purchase to lock in the currency rate? Comments:
Yes
(Go to Q3)
Yes
No
If yes,have you factored in the cost of the currency hedge to the landed product cost? Comments:
Yes
No
Is your business importing products that the business intends to export or incorporate into other goods which will be exported within twelve months?
Yes
No
2.
If not, have you calculated the losses you are incurring when the Australian Dollar devalues against other countries? Comments:
3.
4.
(Go to Q6)
Comments:
5.
No
Yes
No
Yes
No
Yes
No
Yes
No
Has your business registered with AusIndustry for the Tradex Scheme? Comments:
6.
Is your business monitoring the movements in the Australian currency against major currencies? Comments:
7.
If there is devaluation of the Australian currency, will the business still be able to sell the more expensive products that are imported at the same Gross Profit Margin? Comments:
8.
Should consideration be given to buying alternative products, which can still be sold at comparable prices to those prevailing, prior to any currency devaluation? Comments:
9.
What specific actions are required from the Importers Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Importers (38 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK INSURANCE REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Insurance Credit/Debtor Insurance
Yes
1.
No
Is the business selling a large proportion of sales by credit? (Go to Q3)
Comments:
2.
Has the business considered applying for a "Credit/Debtors Insurance Policy"? Comments:
3.
Have you reviewed your on-going business expenses to ensure that adequate insurance cover has been negotiated? Comments:
4.
Have you considered increasing the excess on various policies to decrease the premiums? Comments:
5.
Has your business reviewed the adequacy of insurance covers, based on current replacement values and salaries including: Credit Insurance Fire Insurance on Building Fire Insurance on Contents Storm, Tempest, Cyclone Cover Consequential Loss of Profits Insurance (Business Interruption) Key Person Insurance Sickness & Accident Insurance (Disability and Trauma) Public Liability Insurance Professional Indemnity Insurance Builders - Owner's Warranty Insurance Directors' and Officers' Insurance Burglary Cover Motor Vehicle Insurance Industrial Special Risks Insurance Machinery Breakdown Insurance Transit Insurance Builders' Insurance Product Liability Insurance Engineering and Boiler Explosion Insurance Tax Audit Insurance Travel Insurance Income Protection for Business Overheard Insurance Partnership Buy/Sell Insurance Export Insurance Other
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes Yes Yes
No No No No
Yes Yes Yes
No No No
Yes Yes Yes
No No No
Yes Yes
No No
Yes Yes Yes
No No No
Yes Yes Yes Yes
No No No No
Yes Yes Yes
No No No
Yes
No
Comments:
6.
What specific actions are required from the Insurance Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Insurance (39 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK LEADERSHIP ISSUES REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Leadership Is Vital For Success
1.
Does your business concentrate on leadership issues within the business? Comments:
2.
Does your business tell people: What needs to be done to achieve results? Comments:
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Where the business is going? Comments:
What the business is? Comments:
What the business is trying to achieve? Comments:
What is happening in the market place? Comments:
What is the identity of the business: What it means to customers? Comments:
What it means to team members? Comments:
What it means to the wider community? Comments:
What is unique about the business? Comments:
4.
5.
6.
Has the business leaders identified talent within the business? Comments:
Has the business instigated a first-class training scheme to assist the team members to improve their performance? Comments:
Has effective delegation been introduced in the business? Comments:
7.
Has a management succession plan been introduced to the business? Comments:
8.
What specific actions are required from the Leadership Issues Review? Action:
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Leadership Issues (40 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK MARKET REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Steps To Ensure Business Survival
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No No No No
1.
Is your business closely monitoring trends within your industry? Comments:
2.
Has your business identified the emerging demands/requirements from the market? Comments:
3.
Has your business analysed what the business' competitors are doing? Comments:
4.
Has the business developed any strategies for the business after analysing the competitors' strategies? Comments:
5.
Has the business identified emerging market opportunities? Comments:
6.
Has the business developed a updated Marketing Plan incorporating:Yes Product Analysis? Yes Product Pricing? Yes Competitor Analysis? Yes Branding? Yes Results of focus group meetings on the product? Targeted market defined? Yes Marketing mix for successful marketing of the business' products including product, place, promotion, price?
No No No
Comments:
7.
What specific actions are required from the Market Review? Action:
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Market (42 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK MARKETING REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Marketing If completed now complete the Sales Review Worksheet.
1.
Has the business considered growth options? Comments:
2.
Would these options help generate additional market share? Comments:
3.
Has the business identified groups of potential customers who look like your present customers? Comments:
4.
Has the business considered special marketing/promotional activities targeted at these potential customers? Comments:
5.
Has the business identified it's "inside advantage"? Comments:
6.
Have details of the business' "inside advantage" been included on: Emails? Letterheads? Business Cards? Website? Other?
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes
No No
Yes
No
Yes
No
Yes Yes
No No
Yes
No
Yes Yes
No No
Yes
No
Yes Yes Yes
No No No
Yes Yes
No No
Yes Yes
No No
Yes
No
Yes
No
Comments:
7.
8.
9.
10
Has the business contacted core customers and advised them on new products/services? Comments:
Has the business examined strategies to grow in difficult trading times? Generate leads from core customers? Generate leads from people who look like core customers? Increase the average value of each sale by: special promotions? demonstrations? supply of literature? Are you giving customers a reason to: increase the frequency of transactions? visit your premises? contact your business? visit your website? Can you adjust your margins? Are your sales team actively generating leads each day? Are your sales team: up-selling? cross-selling? Comments:
Does the business' web site enable the sale of products/services to customers/potential customers? Comments:
Does your business need to make any changes to its treatment of marketing? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Marketing (43 of 65)
11
What specific actions are required from the Marketing Review? Action:
Now complete the Sales Review Worksheet.
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Completed By
Date Completed
Marketing (44 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK NET PROFIT BEFORE TAX PERCENTAGE ANALYSIS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Business Monitoring
1.
Analysis of financial performance.
Previous Financial Year
Year To Date
Completed By
Date Completed
Sales Gross Profit Gross Profit % Overhead Expenses Expenses % Net Profit Before Tax Net Profit Before Tax % Comments:
2.
What specific actions are required from the Net Profit Before Tax Percentage Review? Action:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Net Profit Before Tax % (45 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK PROPERTY INVESTMENTS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Property Investments
1.
Has the business retained a Quantity Surveyor to prepare a report on the allowable deductions - particularly depreciable property, both in the business' property and share of common property? Comments:
Yes
No
2.
Has the business checked to ensure that it is maximising the legal tax deductions for: Interest on funds borrowed for the property investment? Agents' Fees Bank Charges Repairs & Maintenance Gardening Cleaning Depreciation - Plant & Equipment Depreciation - Buildings Body Corporate Fees Rates Land Tax Advertising for Tenants Owner's Inspection Expenses Valuation Fees Insurance Accountancy Fees Electricity Pest Control Comments:
Yes
No
Yes Yes
No No
Yes
No
Yes Yes Yes
No No No
Yes Yes Yes
No No No
Yes
No
Yes Yes Yes Yes Yes
No No No No No
Yes Yes
No No
3.
What specific actions are required from the Property Investments Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Property Investment (46 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK RISK MANAGEMENT STRATEGIES REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Steps To Ensure Business Survival
1.
2.
Has your business established risk management strategies for: reserves for "rainy days"? development of team member skills? retention of skilled team members? intellectual property protection? supplier contracts? contracts with other key people in your industry? swine flue pandemic? competitive analysis? management skills? licencing of product? legal issues? export market risks: political risks? legal risk in foreign countries? graft and corruption? credit/financing risks? quarantine risks? cashflow risk? skilled labour? corporate governance? quality assurance? occupational health and safety? compliance with laws relating to: income tax? workplace health and safety? money laundering? workcare? privacy? fair trading? advertising? environment? financial management? clients/debtors? creditors' records? insurance? asset management? superannation contributions? human resources system? research and development? contractor management? emergency planning? fire planning? serious accidents? business planning? board of directors? shareholders? Comments:
Yes Yes
No No
Yes
No
Yes Yes
No No
Yes
No
Yes Yes Yes Yes
No No No No
Yes
No
Yes Yes Yes
No No No
Yes Yes Yes
No No No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes
No No
Yes Yes Yes
No No No
Yes Yes
No No
Yes Yes Yes Yes
No No No No
Yes
No
Yes Yes
No No
Yes Yes Yes
No No No
Yes Yes Yes
No No No
Yes Yes
No No
Yes
No
What specific actions are required from the Risk Management Strategies Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Risk Management Strategies (47 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK SALES REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Business Monitoring If completed now complete the Sales Analysis Worksheet.
1.
Yes
Is your business growing in sales terms?
No (Go to Q5)
Comments:
Yes
2.
No
Is this a general trend applicable to most businesses in your area, including your competitors? (Go to Q5)
Comments:
3.
What specific activities have you undertaken to grow your business that others in your area do not appear to be doing? Comments:
4.
Can you further develop these activities to gain market share? Comments:
5.
Should your business be developing additional marketing/customer development strategies to gain a greater share of the market? Comments:
6.
Has your business developed specific development ideas? Comments:
7.
Has your business developed priorities for marketing ideas? Priority: (1) (2) (3) (4) (5) (6) Comments:
8.
Is the business creating value appreciated by customers? If "No", what do you plan to do? Comments:
9.
What specific actions are required from the Sales Review? Action:
Now complete the Sales Analysis Worksheet.
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Completed By
Date Completed
Sales (48 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK SALES ANALYSIS AND REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month] Complete Sales Worksheet first. If completed now complete the Sales Targets Worksheet.
1.
Sales Analysis
Department/Section Sales
Sales
TOTAL $
2.
Previous Financial Year Mthly # of Average Customers
Average Sale
-
Number of Months to date Year To Date Mthly # of Sales Average Customers
$
Average Sale
-
Review of Major Customers
Customer Name
Previous Financial Year
Monthly Average
Year To Date
Monthly Average
Action:
Now complete the Sales Targets Worksheet. Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Sales Analysis (49 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK SALES TARGETS Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month] Complete Marketing Worksheet first. Complete Sales Analysis and Review first.
1.
Business Building Matrix (Example) Insert your own figures to customise the calcuation:Present Customers/Sales Statistics: Number of customers per annum Average Sale (ex GST) Frequency of visits per annum Gross Profit Percentage on Sales Present Sales Calculated (No. Customers x Avg Sale x Frequency of transaction): $ Gross Profit Calculated (Present Sales x Gross Profit %): $
If through marketing activities: Number of Customers increased by 5% to Average Sale (ex GST) increased by 4% to Frequency of visits per annum increased by 10% to Gross Profit Percentage on Sales remained at Sales would be Gross Profit would be Improvement In Gross Profit would be: Marketing costs and any extra employee costs would have to be deducted.
-
$
-
$ $
-
$
-
Action:
2.
A worksheet for determining Sales Targets is as follows: Target This Year Last Year's Statistics
Insert your own figures to customise the calcuation:Number of customers per annum Average sale (ex GST) Frequency of transactions per annum Projected Gross Profit % Proof - Annual Sales $ No. Customers x No. of Transactions x Avg Sale = Annual Sales $
$
-
$
-
Increase % Targeted Figures
Projected Gross Profit this Year Annual Sales Target x Projected GP% = Targeted Annual Gross Profit
$
-
$
-
$
-
Less Specific extra marketing costs: Marketing Promotions Extra Labour
Total = Projected "Stickable" Gross Profit Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Sales Targets (50 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK STOCK (INVENTORY) REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Stock (Inventory)
1.
How often does the business monitor its investment in stock? Daily Weekly Monthly Quarterly Annually Other Comments:
2.
It is recommended that the level of investment in stock should be monitored weekly. Comments:
3.
Does the business monitor stock turns regularly?
Yes
No (Go to Q5)
Comments:
4.
How often? Weekly Monthly Annually Comments:
5.
It is recommended that stock turns should be reviewed weekly/monthly. Comments: Yes
6.
No
Does the business regularly identify slow-moving or obsolete stock? (Go to Q8)
Comments:
7.
How often? Weekly Monthly Annually Comments:
8.
9.
It is recommended that slow-moving or obsolete stock is identified and dealt with on a monthly basis. Comments: Yes
No
Yes
No
If the business sells "top of the range" products, does the business closely monitor stock turn to ensure that these products are still being purchased by your customers at the same level? Comments:
10. If there is a slowdown in the sale of "top of the range" products, should the business be purchasing additional "middle of the road" products? Comments:
11. What specific actions are required from the Stock (Inventory) Review? Action:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Stock & Inventory (51 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK SUCCESSION PLANNING FOR THE BUSINESS CHECK LIST Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Succession In Difficult Times
1.
Insurance
Yes Yes
No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
5.
Supplier's Reaction Yes Would there be any adverse reaction from a supplier in the event of the death or serious illness/accident to a key person? If there is likely to be a reaction, what is the business' strategies to overcome this problem? Comments:
No
6.
Training For Family Members Has appropriate training been implemented for family members in: management? the operation of the business? corporate governance for family members? leadership? Comments:
Yes Yes Yes
No No No
Yes
No
Yes Yes
No No
Yes Yes
No No
Yes
No
Yes
No
Yes
No
Yes
No
Has appropriate key man insurance been affected on the key persons within the business? Has appropriate partnership/shareholder insurance been affected on the partners/shareholders? Comments:
2.
Buy/Sell Agreement Has a legally drawn Buy/Sell Agreement been effected in conjunction with partnership/shareholder insurance? Comments:
3.
Management Succession Do the members of the management team know the management succession plan for the key positions within the business? Comments:
4.
Banker's Reaction Has consideration been given as to the likely reaction from bankers in the event of the death or serious illness/accident of a key person? Would the bank call up debt if a key person was dead or seriously ill? Does the business have sufficient financial reserves or insurance policies to cover borrowings that the bank might not be comfortable with, if there was the unavailability of a key person? Comments:
7.
External Executives Have external executives been introduced to the management team? Should a strategy be developed for the introduction of external executives? Comments:
8.
External Directors Have external directors been invited onto the company's Board of Directors? Should consideration be given to inviting external persons onto the Board of Directors? Comments:
9.
Non-Family Employees Are non-family employees given the same benefits for promotion and training as that which is offered to family members? If "No", should a strategy be developed of offering non-family employees specific training? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Succession Planning Business (53 of 65)
10. Job Descriptions Have job descriptions been prepared for all staff? Including family members? Comments: Yes Yes
No No
Yes Yes
No No
Yes
No
Yes Yes
No No
11. Staff Appraisals Are regular staff appraisals conducted for: non-family members? family members? Comments:
12. Training Programmes Following staff appraisals, have training programmes been implemented for: non-family members? family members? Comments:
13. Business Plan Is there a business plan for the business?
(Go to Q17)
Has the business plan been regularly updated? Is there specific action needed on the business plan? Comments:
Yes Yes
No No
14. Family Charter/Constitution Does the family business have a Family Charter/Constitution? If "No", should consideration be given to the development of a Family Charter/Constitution? Comments:
Yes
No
15. Family Meetings Are regular family meetings held to brief family members on the activities of the business? Comments:
Yes
No
Yes
No
Yes Yes
No No
Yes
No
Yes
No
Yes
No
16. Minutes Of Meetings Are minutes of meetings prepared? Are the minutes distributed to all attendees of the meetings? Comments:
17. Appreciation Of What The Business Does Do family members have an appreciation of: what the business does? the role of non-family members engaged in the business? the role of family members engaged in the business? Comments:
18. Corporate Structure Have appropriate corporate structures been established for the business so that, if possible, the key assets are at "arms-length" from the day-to-day business operations? If it is thought that this matter should be reviewed further, please list details: Comments:
19. Personal Guarantees Has a detailed list of all personal guarantees, given by people associated with the business, been kept? Comments:
20. What specific actions are required from the Succession Planning for the Business Checklist? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Succession Planning Business (54 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK SUCCESSION PLANNING PERSONAL CHECK LIST Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Succession In Difficult Times
1.
2.
List Of Secrets Has the Founder or current Chief Executive Officer prepared a detailed list of: the business secrets? intellectual property? suppliers' agreements? customers' agreements? employees' agreement? recommendations for ongoing management of the business in the event of an unforeseen accident affecting the ability of the incumbent to perform his/her duties? Comments:
Will Has the Founder or current Chief Executive Officer prepared a Will? Is it current? If appropriate, does it make appointments to key positions such as: principal under discretionary trusts ownership of shares in companies which act as trustees of trusts establish testamentary trusts etc Bequests that you wish to make?
Yes
No
Yes Yes Yes
No No No
Yes
No
Yes
No
Yes Yes
No No
Yes Yes Yes
No No No
Yes
No
Yes Yes Yes
No No No
Yes
No
Yes
No
Yes
No
Yes
No
Comments:
3.
Executors Are the Executors listed in the Will of the Founder or current Chief Executive Officer still appropriate? Comments:
4.
Spouse Has consideration been given to the role in the business of the surviving spouse? Does the spouse understand that role? Has any training been undertaken by the spouse in that role? Do members of the family understand the proposed role of the spouse? Comments:
5.
Transfer Of Ownership During Lifetime Do you intend to assign some of the shares or ownership of the business during your lifetime? Comments:
6.
Superannuation Fund/Retirement Planning When do you intend to retire? Comments:
How much money do you need on which to retire? How much money will you have? What will be your ongoing role in the business, once you've retired? Comments:
What earnings/remuneration will you require from the business in your non-executive role? If you intend to sell the business to your family members, how will they raise the capital to purchase the business? Comments:
Will you directly retain ownership of assets utilised in the business for which you can receive rental income? Do the family members understand this? Comments: Yes
7.
No
Contingencies For A Short-Term Event
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Succession Planning Personal (55 of 65)
Is the management team fully aware of what would happen if you were "run over by a bus" tomorrow? Who would then assume control of the business? Comments:
Is that person effectively able to manage the business?
8.
9.
Yes
No
Yes
No
Yes
No
Yes
No
Other Business Relationships Would your untimely death or serious incapacitation affect any other business relationships? Comments:
Agreements That Terminate At Your Death? Does the business have any joint ventures, partnerships, agreements or other arrangements which would Yes Yes terminate in the event of your death? Yes Would the termination of these arrangements affect the day-to-day operations of the business? Do key members of the management team understand the ramifications of what would occur in the event of your death? Can anything be done to prevent these ramifications? Is it possible to renegotiate agreements now so there are no ramifications in the event of your death? Comments:
10. In-Laws
No No No
Yes
No
Yes Yes
No No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes Yes Yes
No No No No
Yes Yes
No No
Yes
No
Yes
No
Have you any concerns about son-in-laws or daughter-in-laws being involved in the business: at present? in the future, when you have retired? in the event of your untimely death? Comments:
11. Partnership Issues Have you clarified with your business partner what would happen in the event of either of your deaths or serious incapacitation? Do your respective families understand this? Are there sufficient funds available through life insurance policies to buy-out your business partner's surviving spouse and family or for your business partner to buy-out your spouse or family? Comments:
12. Capital Gains Tax Implications Have you asked your accountant to report on the capital gains tax implications that might emerge following your death? Comments:
13. "Special Treatment" Requirements Have you included in your Will details of any "special treatment" requirements for any family member? Comments:
14. "Death Audit" Have you prepared a "death audit" list which includes: details of all the property that you own? details of where the Title Deeds or other documents for those properties are located? details of any partnerships or joint ventures in which you're involved? location of bank accounts? location of shares and other negotiable securities? location of insurance policies? location of Will? people you require to be notified in the event of your death? Is there any other information which you believe should be communicated to your Executor and family following your death? Comments:
15. What specific actions are required from the Succession Planning Personal Checklist? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Succession Planning Personal (56 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK SUPPLIERS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Suppliers
1.
Has your business contacted suppliers and requested support during the difficult trading conditions e.g.
Yes
No (Go to Q2)
extension of time for payment? promotional support? making specialist staff available? advertising contribution? marketing contribution? special prices for specific purchases? Comments:
2.
Has your business compared prices for products and services from alternative suppliers? Comments:
3.
Has the business identified alternative suppliers? Comments:
4.
Have you given Personal Guarantees to supplies? Comments:
5.
What specific actions are required from the Suppliers Review? Action:
Yes
No
Yes
No
Yes
No
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Suppliers (57 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK TEAM MEMBER REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Team Members
1.
Has the business reviewed salaries being paid, as compared to salary packages being offered by competitors?
Yes
No (Go to Q3)
Comments:
2.
What were the results of the review? Position: Your Package: Competitor's Package: Comments:
Position: Your Package: Competitor's Package: Comments:
Position: Your Package: Competitor's Package: Comments:
Position: Your Package: Competitor's Package: Comments:
Position: Your Package: Competitor's Package: Comments:
Position: Your Package: Competitor's Package: Comments:
Comments:
3.
Will the business conduct a review to compare salaries being paid, as compared to payments being made by competitors? Comments:
4.
If "Yes":
Yes
No
Yes
No
By Whom: By When: Comments:
5.
Is the business happy with productivity? (Go to Q7)
Comments:
6.
If "No", what productivity improvements are required? Comments:
20/07/2014 9:05 AM
Yes
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
No
Team Member (58 of 65)
7.
8.
9.
Does management intend to discuss productivity improvements with team members? Comments:
Have key decisions been empowered to team members to make, to meet and exceed customer expectations? Comments:
Yes
No
Yes
No
Yes
No
Does the business ask team members for suggestions on the business processes? (Go to Q11)
Comments:
10. Have some suggestions been made by Team Members? Comments:
(Go to Q12)No Yes
11. Will suggestions be sought from Team Members? Comments:
Yes
No
12. Are team members motivated and working well? Comments:
Yes
No
13. Do the team members have an "amazing attitude"? (Go to Q15)No Yes
Comments:
14. Is the business considering strategies to develop "amazing attitudes"? Comments:
15. Before rationalising team members, has consideration been given to staffing requirements if you gain market share or how will the business emerge at the end of the difficult trading conditions? Comments:
16. If the business has to downsize, has work been identified that could be undertaken by a contractor(s)? Has consideration been given to asking staff to use up all accrued holidays? or take unpaid leave? or to work less hours? Comments:
17. If the business has to downsize, has advice been sought from: Government Agencies? Chamber of Commerce? Industrial Advisory Organisation? Other? Comments:
18. If the business is downsizing, has consideration been given to: counselling for departing team members? counselling for continuing team members? redundancy payments? briefing on current work assignments? exit interviews? Comments:
19. Has management considered training programmes so that when the economy improves your team members will be adequately prepared? Comments:
20. Has specific training been given to marketing and sales team members so that they are ready to respond to the upturn when it occurs? Comments:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Yes
No
Yes Yes Yes Yes
No No No No
Yes Yes Yes Yes
No No No No
Yes
No
Yes Yes Yes
No No No
Yes
No
Yes
No
Yes
No
Yes
No
Team Member (59 of 65)
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes Yes
No No
21. Has management encouraged individual team members to write their own Career Development Plan and discuss their plan with their immediate superviser? Comments:
22. Has the business conducted Job Satisfaction interviews/surveys with team members? Comments:
23. Has the CEO / Owner told team members what the business' plan is for the downturn and the upturn when the economy improves? Comments:
24. Has management introduced new systems so as to comply with the requirements of Fair Work Australia? (Refer to Paper 017-098 Unfair Dismissal Laws) Comments:
25. Critical questions regarding new Workforce Procedures to consider: Has your business implemented legally compliant employment contracts? Workplace Rules and Policies? Written Disciplinary Procedures? Comments:
26. What specific actions are required from the Team Member Review? Action:
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Team Member (60 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK THEFT & PILFERAGE Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Theft & Pilferage
Yes
1.
No
Does your business record theft & pilferage in the business? (Go to Q4)
Comments:
2.
How does your business record details of the theft and pilferage? Comments:
3.
Has the business developed strategies to reduce theft & pilferage? Comments:
4.
Does your business intend to monitor theft & pilferage from now on? Comments:
5.
What specific actions are required from the Theft & Pilferage Review? Action:
Yes
No
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Theft Pilferage (61 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK WAGES TO TURNOVER ANALYSIS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Business Monitoring
1.
Department/Overall Analysis Previous Financial Year Turnover Wages % Wages
Department/Section:
Year To Date Turnover Wages %
Wages
Dept 1 Dept 2 Dept 3 Dept 4 Dept 5 Dept 6 Dept 7 Dept 8 Dept 9 Dept 10 Dept 20 Dept 21 Dept 22 Dept 23 Dept 24 Dept 25 Dept 26 Dept 27 Dept 28 Dept 29 Dept 30 TOTAL $
2.
-
$
Strategies To Be Taken On Wages % to Department/Section Turnover Department/Section: Dept 1 Strategy:
-
$
-
$
-
Action By Whom By When
Dept 2 Strategy: Dept 3 Strategy: Dept 4 Strategy: Dept 5 Strategy: Dept 6 Strategy: Dept 7 Strategy: Dept 8 Strategy: Dept 9 Strategy: Dept 10 Strategy: Dept 11 Strategy: Dept 12 Strategy: Dept 13 Strategy: Dept 14 Strategy:
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Wages Turnover Analysis (62 of 65)
Dept 15 Strategy: Dept 16 Strategy: Dept 17 Strategy: Dept 18 Strategy: Dept 19 Strategy: Dept 20 Strategy: Dept 21 Strategy: Dept 22 Strategy: Dept 23 Strategy: Dept 24 Strategy: Dept 25 Strategy: Dept 26 Strategy: Dept 27 Strategy: Dept 28 Strategy: Dept 29 Strategy: Dept 30 Strategy: 5.
What specific actions are required from the Wages to Turnover Review? Action:
Completed Date By Completed
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Wages Turnover Analysis (63 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK WASTAGE REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Wastage/Shrinkage
Yes
1.
No
Has your business identified areas to improve wastage loss within the business? (Go to Q3)
Comments:
2.
If "Yes" - list the identified wastage areas. Comments:
3.
What strategies has your business developed to reduce wastage? Comments:
4.
Will the business establish procedures to monitor wastage from now on? Comments:
5.
What specific actions are required from the Wastage Review? Action:
Yes
No
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Wastage (64 of 65)
SURVIVAL IN DIFFICULT TIMES FOR SMEs WORKBOOK WORK IN PROGRESS REVIEW Back to Index Review Report
[Insert Business Name] [Insert File Number (Optional)] [Insert Report Month]
Related Documents Work in Progress
1.
Yes
Does management review the Work in Progress Summaries on a regular basis?
No (Go to Q4)
Comments:
2.
How often? Weekly? Monthly? Annually? Other? Comments:
3.
It is recommended that Work in Progress Summaries be reviewed by independent management on a monthly basis: Have all jobs been invoiced, that could be invoiced? Can a progress claim be raised on jobs not completed? Is there a problem with a job? Comments:
4.
Are there any changes that you wish to make to your business' Work in Progress System? Comments:
5.
What specific actions are required from the Work in Progress Review? Action:
Yes
No
Yes
No
Yes
No
Yes
No
Completed By
20/07/2014 9:05 AM
Š - PHIRE POWER Pty Ltd - ACN: 88 302 387 297
Date Completed
Work In Progress (65 of 65)