There is a pattern I have seen repeatedly when working with SME owners across Australia.
The owner knows something is not quite right. Growth has slowed. Profit margins are under pressure. Cash flow is tighter than expected. The team relies too heavily on the owner, who is working longer hours but not seeing better results.
The owner may have already considered getting outside help. They may have searched for business advisory services, spoken to other business owners or received a referral.
But they keep putting it off.
Unfortunately, the longer an owner waits, the fewer options they may have—and the more expensive the problems can become.
Research from CPA Australia found that 22% of stagnant or declining Australian small businesses sought no advice at all in 2024, compared with only 6% of high-growth businesses.
That difference is significant. Successful business owners do not necessarily have fewer problems. They are often simply more willing to seek the right advice early and act on it.
Source: CPA Australia Small Business Survey 2024 — cpaaustralia.com.au
Why do SME owners delay getting advice?
“I’ll get to it when things settle down”
This is one of the most common reasons.
There are always customers to look after, staff issues to resolve, suppliers to manage and urgent problems demanding attention. Getting advisory support can feel like something to consider once the business becomes less busy.
But in most businesses, that quiet period never arrives.
Weeks become months, and months become years. Meanwhile, the same problems continue to drain profit, cash flow, time and energy.
The busiest and most challenging periods are often when an outside perspective can add the most value. When you are deeply involved in day-to-day operations, it can be difficult to step back and see what is really happening.
An experienced SME business advisor can help you identify the underlying issues, establish priorities and focus your resources on the actions that will make the greatest difference.
“I’m not sure it’s worth the cost”
This is a reasonable concern. Business owners should expect a clear return from any professional advice they pay for.
However, the real question is not simply, “What will the advisor cost?”
It is also:
- What is the current problem costing the business?
- How much profit or cash flow is being lost?
- What opportunities are being missed?
- What could happen if nothing changes?
- How much value could be created by addressing the problem now?
Business advisory services should be viewed as an investment in improving the performance and value of the business.
An advisor engaged before a cash flow crisis, an unsuccessful growth strategy or a poorly planned business exit has time to create meaningful change. Once the situation becomes urgent, the choices are usually more limited and the risks are much greater.
ASIC data showed that more than 13,400 companies entered external administration during the financial year to May 2025, an increase of 34.2% from the previous year.
Businesses that successfully manage difficult periods are often those that understand their financial position, recognise risks early and have a clear plan before the pressure becomes overwhelming.
Source: ASIC External Administration Data, FY2025 — asic.gov.au
“I’m not ready yet”
Some owners believe they need to fully understand their problems before speaking with an advisor.
In reality, that is one of the main reasons to seek advice.
You do not need to arrive with all the answers. You simply need to be open and honest about where the business is now, where you want it to go and what is concerning you.
A good advisor will help you diagnose the problems, separate the symptoms from the real causes and develop a practical way forward.
“I tried an advisor before, and it didn’t help”
This concern should be taken seriously.
Not all business advisory services are the same. Some advisors provide a report but little implementation support. Others may focus on only one area without understanding the whole business. A poor experience can understandably make an owner cautious.
Rather than closing the door on all outside advice, consider what was missing from the previous engagement.
Did the advisor:
- Understand the realities of running an SME?
- Have practical business and leadership experience?
- Take time to understand your goals?
- Provide clear and achievable recommendations?
- Help your team implement the agreed actions?
- Measure progress and hold people accountable?
Understanding why the previous experience failed will help you choose the right advisor next time.
What does waiting actually cost?
The cost of delaying advice is not always immediately visible.
It can appear gradually through:
- Declining profit margins;
- Continuing cash flow pressure;
- Poorly managed growth;
- Repeated operational problems;
- Underperforming employees;
- Overdependence on the owner;
- Important decisions being made without enough information; and
- Opportunities being missed or pursued without proper planning.
For owners considering an eventual exit—and every owner will leave their business at some point—the cost of waiting can be particularly significant.
William Buck’s Exit Smart Report found that nearly 60% of Australian SME owners did not have an exit strategy, while one in two had never sought advice about maximising the value of their business. Of those who had obtained a valuation, 64% had not done so within the previous three years.
Source: William Buck Exit Smart Report 2023 — williambuck.com
An advisor engaged three to five years before a planned exit has time to help the owner improve profitability, reduce risks, strengthen management, document systems and make the business less dependent on them.
An advisor engaged six months before a proposed sale has far fewer options. By then, there may not be enough time to address the issues that affect value or discourage potential buyers.
When is the right time to seek business advisory support?
There is no single perfect time to engage an advisor. However, there are clear warning signs that acting now may be better than waiting.
Consider whether any of the following apply to your business:
- Revenue is growing, but the business is becoming harder to manage.
- Sales are increasing, but profit and cash flow are not improving.
- Profit margins are flat or declining.
- Too many decisions still depend on the owner.
- The team is not performing at the level the business requires.
- Operational problems keep recurring.
- There is no clear financial roadmap for the next three to five years.
- The business would struggle to operate effectively without the owner.
- You are considering an acquisition, restructure, new market or major investment.
- You are planning to sell, retire or transition the business within the next two to five years.
If two or more of these points apply, advisory support should not be something you leave until “later”. It is worth addressing now.
What should you look for in an SME business advisor?
The right advisor should bring more than theories, templates or a written report.
Look for someone who:
- Understands what it is like to lead and manage a business;
- Takes time to understand your personal and business goals;
- Reviews the business as a whole, rather than focusing on one isolated issue;
- Connects strategy with financial performance and cash flow;
- Provides practical and achievable recommendations;
- Works with you and your team during implementation;
- Measures progress and maintains accountability; and
- Understands how today’s decisions will affect the future value and saleability of the business.
Sustainable business improvement rarely comes from changing only one area. Strategy, finance, sales, marketing, people, operations and systems all need to work together.
How Business Growth and Exit Specialist (BGES) helps SME owners
At Business Growth and Exit Specialists, we work with SME owners across Australia who want to:
- Grow their businesses sustainably and profitably;
- Improve revenue;
- Improve profit and cash flow;
- Build stronger management teams;
- Reduce the business’s dependence on the owner;
- Increase business value; and
- Prepare for a successful business exit.
Our team brings more than 180 years of combined leadership, management and business growth experience. We provide practical support across strategy, financial control, marketing, sales, legal, people, operations and systems.
Our approach is straightforward:
Grow the business. Increase its value. Prepare for a successful exit.
We do not simply provide recommendations and walk away. We help owners establish the right priorities, develop a practical roadmap and support implementation to achieve measurable results.
Many of our initial conversations begin in the same way. The owner has been thinking about seeking support for some time, but something has finally prompted them to act.
After we explore the real issues, one of the most common comments we hear is:
“I wish I had done this sooner.”
The right time to start is usually before you need to
You do not have to wait for a crisis, a failed growth plan or an approaching sale before seeking advice.
The best time to engage business advisory services is when there is still time to make considered decisions, address risks and create lasting improvements.
If your business is not delivering the profit, cash flow, freedom or value you expected, it may be time for a fresh perspective.
Book a free discovery session with BGES for an honest and practical conversation about where your business is today, what may be holding it back and what the right support could help you achieve.
No pressure and no obligation—just a useful business conversation.
Eric Tjoeng
CEO and Founder
Business Growth and Exit Specialists Pty Ltd
Ø Recognised by Digital Reference among Best Business Growth Services and Advisors in Australia for 2026
Ø Recognised among top SME Business Exit Specialist to Watch in 2025/2026 (The Enterprise World)
Ø Recognised by Digital Reference among Best Business Growth Services and Advisors in Australia for 2026
Ø Recognised among Top SME Business Advisors to Watch in 2024 (The Enterprise World)
Ø Recognised among the Top 10 Strategic Planning Services Company in Australia in 2023 (Business Management Review)
Ø Featured as Top 10 Australian Business Strategists & Experts to Watch in 2021 (Australian Business Journal)
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