As we step into a new year, I’ve been reflecting on the challenges that have defined the past twelve months—and what lies ahead for us as leaders, business owners, and professionals. In this spirit, sharing a report that truly stopped me in my tracks: the recent IBIS report - Business on the Brink: Tackling Australia’s Rising Tide of Failures and B2B Defaults, published in December 2024.
The insights in this report are both sobering and necessary. With business failures in Australia surging by 17.3% in 2024 and over 4,700 insolvencies reported by October, the sheer scale of economic instability is hard to ignore. Behind these figures are real stories of resilience, struggle, and often, heartbreak—stories of businesses navigating unprecedented pressures and the ripple effects that impact entire supply chains and communities.
Reading this report, I couldn’t help but think about the weight many of us are carrying. Whether you’re a business owner trying to adapt to shifting conditions, a team leader working to sustain morale, or a professional navigating uncertainty in your industry, these challenges are deeply personal.
One solution our clients keep coming back to is the importance of increasing our level of discernment in decision-making and cultivating greater awareness of the interrelated systems we operate within. When we approach decisions with a more thoughtful and systemic lens, we open the door to better choices—not only for our businesses but for the wider networks we influence. This is where fostering a culture of curiosity, reflection, and collaboration can have a transformative impact, producing productivity increases.
The IBIS report highlights strategies for greater success—financial planning, risk management, and fostering strong relationships. However it’s the focus on discernment and awareness that I believe will truly set resilient businesses apart.
As we face the year ahead, I find myself left with one key question: What else can we do now to create businesses that are more resilient, adaptable, and supportive of the people behind them?
I’d love to hear your thoughts. How are you preparing for 2025? What steps are you taking to navigate these uncertain times? Let’s start the conversation.
