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Andrew Spring

Partner at

Member Since December 2017

Sydney, NSW, 2000

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Andrew Spring has more than 17 years’ experience in corporate recovery and insolvency, gained through work in the UK, Europe and Australia. He has a wealth of experience in all facets of domestic and international business restructuring and insolvency. His specialist skills include independent business reviews, reconstruction and turnaround consulting, business sales and asset divestment, profitability reviews, cross-border insolvency, and all forms of corporate insolvency appointments.

Insolvency

How to Avoid Bad Debts and Insolvency by Managing Customer Risks

It’s risky to depend most of your revenue from one customer source. Do a background credit check, create clear business terms or reconsider when necessary. Sync payment systems with your customer and check payment contacts are up to date.   Tighter lending regulations, technological disruption and changing consumer habits are creating a challenging landscape for small-to-medium enterprises ...

Andrew Spring answered this question

Is e-commerce a dying industry?

Considering e-commerce as an industry in itself is an interesting thought. E-commerce is an alternative sales generation tool for a business; however, a lot of smart businesses understand that it is a lot more than that and are also exploring the side benefit of e-commerce, being the ability to gather and analyse personal data. But can we define e-commerce as an industry? Perhaps we could say that this “industry” is constructed of those businesses that solely rely upon their e-commerce capabilities as their sales platform – or that exist solely in the digital world. And do solely digital businesses have a higher failure rate than more traditional businesses? If this is the case, perhaps it is because the digital space typically has a lower cost to entry than traditional bricks-and-mortar businesses. Ease of entry may also mean that the business venture is entered into more quickly, potentially delaying the consideration of external advice and or implementing established business protocols such as plans and budgets. My belief is that far too often a business starting with an idea and a laptop may be undercapitalised and therefore not adequately equipped to deal with all the requirements of its operations, such as statutory costs and legislative compliance. Does this mean that e-commerce (as an industry or tool) is not relevant or useful? The answer is yes and no, depending on the business. Certainly, e-commerce like any other tool has both its advantages and disadvantages as a sales strategy. Businesses need to consider their product, target market, logistics and set up costs as well as their marketing strategy. Businesses need to consider the scalability of their e-commerce platform, the ability to meet demand, the banking and payment platform relationships and their online terms and conditions, as well as whether or not to collect and retain data. In short, business leaders need to consider e-commerce as part of the overall business strategy and make a considered decision on whether resources are best committed to e-commerce as opposed to another sales option, such as international trade. If in doubt, potential options should be discussed with a trusted independent business advisor. And if you don’t have one, the question is - why not? 

Business Management

10 Resolutions for Business Success in 2018

2018 is supposed to be a very promising year for all businesses. But in order for success to come your way, there are a few things you, as a business owner, should consider changing up. If you want your business to succeed in the new 2018, you need to re-organise and re-plan a few aspects of your business, such as finances, cashflow management, your staff, working process, etc. Here are top 10 p...

Insolvency

How to Avoid Bad Debts and Insolvency by Managing Customer Risks

It’s risky to depend most of your revenue from one customer source. Do a background credit check, create clear business terms or reconsider when necessary. Sync payment systems with your customer and check payment contacts are up to date.   Tighter lending regulations, technological disruption and changing consumer habits are creating a challenging landscape for small-to-medium enterprises ...

Risk Management

Data Breach Running: Avoid Possible Business Risks

Taking about the mandatory breach notification scheme and understanding the new law.  Targeted cyber attacks are getting popular day by day. What's the reason behind it? Here are some key tips to help you out before it's too late. The new mandatory breach notification scheme came into effect earlier this year in a move to protect the data of Australians and improve transparency. The new law mea...

Sales and Marketing

A Gloomy Outlook for Aussie Retailers ? This Is How to Avoid

In the realm of the Internet, in-stores have to compete with online stores and very often than not e-commerce wins.  If you don't want to be the next retailer to close your business then. it's time for you to consider opening an online store and marketing it with your current one.  There is a difference between "shopping" and "buying." In order to be a successful retailer, you need to distingu...

Business Management

10 Resolutions for Business Success in 2018

2018 is supposed to be a very promising year for all businesses. But in order for success to come your way, there are a few things you, as a business owner, should consider changing up. If you want your business to succeed in the new 2018, you need to re-organise and re-plan a few aspects of your business, such as finances, cashflow management, your staff, working process, etc. Here are top 10 p...

Andrew Spring answered this question

Is e-commerce a dying industry?

Considering e-commerce as an industry in itself is an interesting thought. E-commerce is an alternative sales generation tool for a business; however, a lot of smart businesses understand that it is a lot more than that and are also exploring the side benefit of e-commerce, being the ability to gather and analyse personal data. But can we define e-commerce as an industry? Perhaps we could say that this “industry” is constructed of those businesses that solely rely upon their e-commerce capabilities as their sales platform – or that exist solely in the digital world. And do solely digital businesses have a higher failure rate than more traditional businesses? If this is the case, perhaps it is because the digital space typically has a lower cost to entry than traditional bricks-and-mortar businesses. Ease of entry may also mean that the business venture is entered into more quickly, potentially delaying the consideration of external advice and or implementing established business protocols such as plans and budgets. My belief is that far too often a business starting with an idea and a laptop may be undercapitalised and therefore not adequately equipped to deal with all the requirements of its operations, such as statutory costs and legislative compliance. Does this mean that e-commerce (as an industry or tool) is not relevant or useful? The answer is yes and no, depending on the business. Certainly, e-commerce like any other tool has both its advantages and disadvantages as a sales strategy. Businesses need to consider their product, target market, logistics and set up costs as well as their marketing strategy. Businesses need to consider the scalability of their e-commerce platform, the ability to meet demand, the banking and payment platform relationships and their online terms and conditions, as well as whether or not to collect and retain data. In short, business leaders need to consider e-commerce as part of the overall business strategy and make a considered decision on whether resources are best committed to e-commerce as opposed to another sales option, such as international trade. If in doubt, potential options should be discussed with a trusted independent business advisor. And if you don’t have one, the question is - why not? 

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