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Gone are the days of social media when entrepreneurs largely focused on macro-influencers with incredibly large followings. Bassendean-primarily based Hofmann Engineering has credited elevated orders from the mining sector and a major contract within the defence sector as the most important drivers behind a surge in revenue to a record $149 million in its fiftieth 12 months in business.

The projections are made by combining forecasts from autoregressive built-in shifting average (ARIMA) and exponential smoothing with damped pattern (ESWDT) models, with some changes made to take account of analysis undertaken by the Department of Employment, Abilities, Small and Family Business and known future business developments.

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