Lead Story
Issue No. 38 - December/January 07/08
Optimistic Fast Movers pick up pace
by Pamela Brombal
This is the third year we have questioned business owners. We detected many similarities to prior years, but also gleaned some new insights about the businesses themselves.
The Fast Mover companies represent a range of industries, with 28% in information technology, 17% in property and business services, 10% in construction, and 45% in a variety of fields. The businesses are generally small, but turnover ranges to more than $500 million annually.
On average, more than 50% of sales come from SA, 33% interstate and 13% overseas.
Some 86% of respondents said they had founded the business, up from 72% last year. Two-thirds have a formal board, or advisory board, to assist them in running the company.
The people behind the businesses
Our respondents ranged in age from their late 20s to mid-60s, with the great majority having been born in the 1960s and 70s. They were a bit younger than last year’s group.
Figure 3: Decade born
What do they enjoy most about running a business? The word “challenge” was one of the most frequently used terms.
While the Fast Movers thrive on a challenge, they want to tackle it from the driver’s seat rather than as a support staff.
Freedom, lifestyle, and control of their own destiny were also mentioned frequently.
Money is important, but many are foregoing riches today to reinforce the future – 42% claim they are underpaid by 50% or more based on the market value of their position!
This is consistent with the responses received in the past two years. This allows them to keep cash in the business for that future when they can achieve a much bigger payday. However, only 24% clai...
