With the year ramping up after the summer break, FEI asked leading chief financial officers about their expectations for the year ahead.
Navigating a shifting regulatory landscape and managing rapid technological change were the two standout issues.
Blackmores’ CFO Aaron Canning predicted that regulatory change and evolution, both domestically and offshore would be one of the challenges for the year, as well as charting an optimal path through the raft of Free Trade Agreements (FTA) which Australia has negotiated.
According to Australia’s International Business Survey 2017, analysis of over 1,000 Australian businesses by UTS Business School reveals 93 per cent are exporting, 48 per cent importing. While the vast majority of exporters are engaged with business partners based in countries where an FTA has been negotiated, the analysis reveals that companies are not yet taking full advantage of all that the FTAs have to offer.
Domestically Canning added that there were a range of fiscal policy changes impacting taxation – both corporate and personal – which needed attention.
Canning also said that many CFOs would need to tackle the changing retail landscape in Australia and quantify “the real Amazon effect.”