Business must move with times

There will always be disruptions and regulatory changes in business, but it is how you respond to those changes which determine the success of your business, according to lawyer and business woman Amanda Kailis.

Ms Kailis spoke at a lunch in Bunbury on Friday, hosted by the Australian Institute of Company Directors, to explain how her family business, MG Kailis Group, had been successful.

The business was founded by the late Michael Kailis and his wife Patricia in 1962, when they started out in the rock lobster trade in Dongara and ended up harvesting pearls in the Kimberley.

Today, the Kailis name is prominently identified as a leading producer in jewellery and seafood.

She said as the company grew in size, the structure changed to meet the regulatory formal tax requirements.

“When contemplating the next step it is important to think beyond tax and regulations, because tax will keep changing,” she said.

“Small business is the powerhouse of the economy and is constantly evolving, for example digital media has changed the way our customers receive their products.

“Digital media has to be interactive and you have to get it because the pace of it has changed rapidly over the years.”

She said the foundation to any business was to implement a strong structure and have a passion for the work you do.

The Australian Institute of Company Directors is a national organisation with about 4000 members in Western Australia and they aim to organise two to three events per year in Bunbury.

Event coordinator Courtney Blechynden said they asked Ms Kailis to speak at the event because the region was largely made up of small businesses which her speech was targeted at.