10 minutes with… BDO Partner Ryan Wilton
Ryan Wilton is a Partner at BDO, specialising in business advisory services for a range of sectors, including the wine industry. Business Insight asked Wilton about the firm’s partnership with the Royal Adelaide Wine Show and opportunities for the state’s vine industry.
Tell me about your career so far and what areas you specialise in at BDO.
I started my accounting career with BDO in 2002 through the Chartered Accountants Australia & New Zealand’s CA Achievers Program. This got my foot in the door and I was lucky enough to work with some great people and gain some valuable skills early on. I connected with BDO’s values and culture straight away, so when the opportunity came up to join the Business Services team part-time, I jumped at it.
In those early days, I worked closely with a Partner and Manager who specialised in tax and advisory services for the wine industry. When the Manager left for London, it allowed me to take on more responsibility with these clients and enhance my knowledge and skills in the sector. From there I have continuously worked my way through the ranks to Partner.
While the wine industry is a key part of my specialisation, I also focus more broadly on the agricultural sector and family businesses and the unique issues they can present. I also split my time between our Adelaide and McLaren Vale offices, staying closely connected with clients in the wine sector and the regions they operate in.
What main services do you offer your clients in Adelaide?
You might like
BDO Adelaide provides audit, tax and advisory services across a wide range of sectors but importantly tailoring solutions to the South Australian market. More specifically, I provide tax and advisory services to clients within many different industries including agriculture, professional services, retail and property. Ultimately, I enjoy working across many sectors with clients who are motivated and looking to grow their businesses.
While tax compliance is a key part of what we do, our role in Business Services is far broader than that. We also provide services such as management reporting, outsourced CFO services, estate planning, family business succession and due diligence to name a few. Our aim is to partner with our clients and become a trusted sounding board for all matters impacting their business and its success.
What do you think are the most pressing issues facing the South Australian wine industry right now?
The South Australian wine industry is facing a number of pressing issues, however many aren’t unique to our state. I think the impact is exaggerated here due to the high volume of Australian wine produced in SA.
Stay informed, daily
Oversupply is one of the key issues stemming from trade disruption and Chinese tariffs. While those tariffs have now lifted, many smaller producers are still feeling the effects. Significant capital remains tied up in unsold wine and rebuilding export markets takes time. This comes at a time where changing consumer preferences are seeing a move away from traditional varieties such as Shiraz and Cabernet and we are also seeing a drop in global alcohol consumption.
Furthermore, environmental factors such as water supply and climate are an increasingly important issues for South Australian producers. Across our client base, we’ve seen significant investment in water infrastructure, sustainable farming techniques and vineyards in cooler climate regions.
What about the opportunities for the sector?
It is no doubt a challenging period for the sector, but we do see opportunities as well. It may be a stereotypical thing for an accountant to say, but now more than ever, it’s important to know your numbers.
There is constant pressure on sales prices in a market where consumers are spending less and input costs are rising leading to the erosion of profit. That’s why it’s more important than ever to understand which products are selling well, what they cost to produce and which sales channels are most profitable. This will give you the knowledge to make smart decisions around production, where to invest time and ultimately build a stronger business and brand. Our most successful clients aren’t just passionate about making top quality wine, they also have a clear plan for how much to produce, for what cost and where they’ll sell it.
We also believe that there are still many opportunities in export markets. This not only includes growth in emerging markets, but Australian wine reestablishing itself in the traditional markets such as the UK and Europe as a quality versus volume product.
Tell me about BDO’s involvement with the Royal Adelaide Wine Show and why it’s an important partnership for the firm?
BDO has been a long-term supporter of the Royal Agricultural & Horticultural Society and in particular the Royal Adelaide Wine Show. It is a great way to connect with the industry and aligns with our sector specialisation and the work we do out of our Adelaide and McLaren Vale offices. We also use the event to showcase the industry to clients and contacts from other sectors to help raise the profile of quality Australian wine.
