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ARTICLE · 11 SEPTEMBER 2023

The factors to compare and assess business performance

Worrells
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To get a clear picture of a client's business and performance issues, go beyond the standard financial information.

AustraliaAccounting and Audit
Graeme Still
Graeme Still
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Supporting your clients with financial and non-financial reports/data

It's fairly reasonable to say the last normal financial year ended on 30 June 2019. It's certainly been anything but normal since, given COVID-19's impact, supply chain issues, staff shortages, high inflation, and rising interest rates. While some businesses performed well in the uncertain times, many others have struggled and some have failed.

When we review business performance as part of business improvement, these themes regularly come up:

  • The business is unable to get enough staff to run properly. This applies to all industries including the professions.
  • Products and services are provided without generating profit.

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