May 2013 be a healthy and happy year for all who engage with this blog.
I believe that in business we make our own success or failure. We have to own our situation.
2013 will be a year of more change for newsagents and in the midst of change we can pursue opportunity. It’s hard work. It requires us to look at our businesses with fresh eyes and outside what we and others expect of us.
We all ought to make 2013 a year of pursuing change on our own terms and for our own benefit rather than waiting for it to walk through our front door and do its thing.
Newsagencies are good businesses to own, 2013 will give us plenty of opportunities to prove that.
Just done the quick total up for the calendar year trading. Mark is correct . It’s a good business model. Cashflow is positive, and the liability side of the balance sheet is healthier now than 12 months ago. As an industry we have to be worried about our asset value, in the face of structural changes to the distribution business. At some stage the banks will be looking for a writeback on the goodwill ! But will the ATO live with the reality, Interesting conundrum.
Ricky – newsagents need to pay off debt urgently before the banks knock on the door.
The ATO will chase tax owed. They will negotiate on interest and penalties but not tax.