Finding safe harbour when business is rough

Adrian Rasmussen • December 4, 2019

Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. In Dalby the drought has taken its toll on many small businesses, so it’s important to recognise the warning signs of potential insolvency as it is the key to trading through difficult times.

The ABC recently reported there are 2.1 million small businesses in Australia, with 54,992 of them going under in the 2017-18 year. Unfortunately it’s the retail sector which is the most vulnerable with retail companies folding at 1.5 times the rate of other small businesses.

The key is to address any problems before they get to this and there are a number of strategies you can introduce to get your company back on track. They include things as simple as making sure you have a good system to monitor your income and expenditure, seeking advice from your accountant and keeping in contact with your bank manager. In addition, you should keep a regular eye on your company’s performance so you can identify problem areas swiftly and nip them in the bud.

Preparing weekly cash flow forecasts can also help you monitor what has to be paid and when debts are due. It will stop debts getting the better of you. Think about paying bills weekly or fortnightly, instead of in bulk at the end of month.

You might want to also consider selling old or excess stock to help improve your cash flow and implement solid procedures to collect outstanding debts and stick with these strategies. Consider decreasing your payment terms (instead of 30 days from end of month, it might be 30 days from invoice date).

With Christmas and holidays just around the corner, we encourage you to support the ‘Buy from the Bush’ and ‘Stay in the Bush’ campaigns.  These are fantastic initiatives where you can support individuals, businesses and communities who are doing it tough in rural Australia with these unprecedented conditions. Simply by buying or staying in the bush, you can make a big difference keeping local jobs and goods and services in these communities. For more information visit their Facebook page>

Adrian Rasmussen retires after decades supporting Regional Queensland

By BMO • June 30, 2026
After an incredible career dedicated to supporting regional businesses, farming families and rural communities, BMO Business Centre Partner Adrian Rasmussen will officially retire from the partnership effective 30 June 2026. For many across the Western Downs and beyond, Adrian has been far more than an accountant or advisor. Over decades in business, he has built trusted relationships grounded in honesty, loyalty and a genuine understanding of regional life and the people who live it. Adrian’s connection to the country and agriculture has always been at the heart of who he is. He has worked alongside generations of farming families and business owners through seasons of growth, challenge and change, becoming a steady and respected presence for clients, colleagues and the wider community alike. Reflecting on his time at BMO, Adrian said the relationships formed throughout his career have been among the most rewarding parts of the journey. “It has been a privilege to work with so many wonderful people over the years; not only clients, but colleagues and communities who have become lifelong friends,” Adrian said. “Regional communities are built on relationships, trust and supporting one another, and I’m incredibly grateful to have been part of that throughout my career.” BMO Business Centre Managing Partners Kelvin Tyler and Michelle McVeigh said Adrian’s contribution to both the business and the region would leave a lasting legacy. “Adrian has played an incredibly important role in shaping BMO into the business it is today,” they said. “His care for clients, commitment to regional communities and calm, practical approach have earned enormous respect across our industry and the communities we serve. While we will certainly miss having him in the office, we are excited for Adrian and his family as they enter this next chapter.” While stepping away from the partnership, Adrian is looking forward to spending more time with family, on the farm and enjoying a well-earned change of pace after many years dedicated to supporting others. Everyone at BMO Business Centre extends their sincere thanks to Adrian for his years of service, friendship and leadership, and wishes Adrian and his family all the very best for the future.

Your 30 June superannuation checklist

By Nikki Ashurst • June 4, 2026
Five easy ways to get more into your super fund before the end of the financial year.