If you feed off the resource sector, expect it to ease into 2013. It will still be active but not to the previous levels.
Don’t plan your business around 2011/12 levels in this sector.
We will have a federal election during this year.
Elections cause a dislocation to business. People put off decisions, especially buying decisions. Allow for the fact that this will occur.
Asset prices are about as low as they are likely to get. And a lot of businesses are looking to grow to achieve more scale.
A result of this is that there will be more mergers and acquisitions. If you are a seller, this could be your year.
Businesses that stay ahead of their market will do well. There is enough activity out there.
You just need to get the business ahead of your competitors. You need to understand what is happening in your industry, what is likely to happen over the coming year and then move quickly.
Greg Hayes is a director of Hayes Knight and specialises in taxation and business planning advice.
