 This edition of the PricewaterhouseCoopers Private Business Barometer is published amid indications of improving domestic economic performance and returning global growth. As the Reserve Bank of Australia (RBA) highlighted in a statement issued by Governor Glenn Stevens on 1 September 2009, the performance of the Australian economy has been stronger than expected. Consumer spending, exports and business investment have been “notable for their resilience” and some measures of confidence are returning. The recent decision by the RBA to lift interest rates, the first major central bank to do so, suggests the economic recovery will continue apace. This increased optimism paves the way for private businesses to address the challenge of reaching the next level in their development. At PricewaterhouseCoopers, we believe that the time is right to ask whether you are using change as an opportunity to grow. Successful private businesses are dynamic, responsive and open to new possibilities. Challenging the status quo is embedded in the culture of this market. We believe that growth is forged in an environment where owners, directors, managers and staff ask themselves and each other one question: What would you like to change? Change, of course, should not be driven for its own sake. Successful businesses set realistic short and medium-term targets and develop strategic and operational plans to achieve them. Some companies have already taken advantage of the downturn to modify their business plans and prepare to make the most of the next phase of economic growth. Many owners and senior executives have identified areas of weakness and deployed the staff and processes to address these. At other businesses, management teams have opened up new vistas of opportunity by clarifying their true core competencies and value propositions. As a result, progressive businesses are emerging stronger and ready to take on their next challenge. Are you one of them? We hope you find the Private Business Barometer a valuable resource in charting the direction of your organisation. PricewaterhouseCoopers Private Client Services is a national team of more than 500 experienced partners and staff who are dedicated to helping private businesses in Australia. We are committed to working with small to medium enterprises, including private and family businesses, entrepreneurs and high net worth individuals, and we are proud to support the community represented in this Private Business Barometer. If you would like to talk about your business or the findings of this Barometer, I would love to hear from you. Doug McCluskey Managing Partner PricewaterhouseCoopers Private Client Services www.pwc.com.au/private-clients (61 2) 8266 0000 | | |