ESS BIZTOOLS and ESS BIZGrants | Other
ESS BIZTOOLS and ESS BIZGrants
Reviews
to load big map
22.01.2022 Matt Vitale, Co-Founder of Birchal, Crowd Sourced Funding Intermediary, indicated this week that during 2020 his company had assisted more companies than it had in 2019. Birchal expects to assist even more companies to raise capital during 2021. To be eligible, a company needs consolidated turnover of less than $25 million, gross assets under $25 million and not listed on a stock exchange.... There is an expectation that SMEs will have difficulty in negotiating loans for, at least, the next 2 years. Accountants and SME operators could be interested in exploring the opportunity to be able to raise funding direct from the public without having to enter into a loan agreement which requires security, directors’ personal guarantees and monthly repayments. In the ESS BIZTOOLS’ Business Advisory Services Update Webinar/Conversation on Wednesday 2nd December at 12-noon AEDT (11.00am AEST) funding for small companies will be discussed. To register - https://essbiztools-au.zoom.us///WN_TvpsuTBGQNSX6JPb7E1Ezg or go to the ESS BIZTOOLS’ Home Page - www.essbiztools.com.au - and scroll down to Upcoming Webinars.
21.01.2022 If you haven’t already planned your strategies for 2021, now is a great time to be holding some think tank meetings to identify key strategies that your accountancy firm should be implementing during the next 12 months Following on from the Com Bank Accounting Market Pulse Report which identified that Business Advisory Services would be the most in demand service supplied by accountants in the next 6 to 12 months, the recent Accounting Business Expo enabled a significant ...number of presenters to make presentations relating to the subject headings Business Advisory Services and Chief Financial Officer Services. These presenters identified that there were a number of variations of accountancy firms now emerging in Australia: - Firms which want to be 100% compliance. - Firms which are aiming for a split between compliance and business advisory services say 50/50. - Firms which will be committed to 100% delivery of business advisory services. What is your firm’s strategy?
20.01.2022 The Australian government, via the Entrepreneurs’ Program, operates the Business Growth Grant Program which is targeted at companies which operate in the following targeted segments: - Advanced Manufacturing - Food and Agribusiness - Medical Technologies and Pharmaceuticals - Mining Equipment, Technology and Services... - Oil, Gas and Energy Resources Companies are eligible if their turnover exceeds $1.5 million (in Northern Australia $750,000) up to $100 million and have been in operation for at least 3 years. Grants of up to $20,000, on a 50% funding basis, are available to enable the company to undertake virtually any activity which will contribute to an improvement in the company’s performance. Eligible activities could include: - Business Plans - Budgets and Cashflow Forecasts - Corporate Governance - Business Review Meetings - Workplace Health and Safety Advice - Reduction in Waste This is a great opportunity for accountants to introduce practical Business Advisory Services strategies to assist SMEs.
19.01.2022 In my discussions with accountants it is obvious that, if an accountancy firm decides that it’s going to offer Business Advisory Services, there needs to be a marketing campaign to alert clients & prospects that the firm is offering a broader range of services. If there is no marketing campaign, how is the target audience going to know that the firm is now able to assist with the verification of charge out rates, assist in a Crowd Sourced Funding Equity Raising campaign, offe...r a Virtual Chief Financial Officer Service etc? Marketing for an accountancy firm can take different forms: - Website - Social media - Webinars The co-presenter in our next Business Advisory Services Update Webinar/Conversation on Wednesday, 25th November at 12-noon AEDT (11.00am AEST) is Trent Butler, Accountant/Marketing Consultant. Webinar Registration - https://essbiztools-au.zoom.us///WN_MZa7iwnMTgygKXH0b6JvjA Trent was a presenter at the Accounting Business Expo held recently. (Click here) to listen to a recording of Trent’s presentation at the Expo How To Install A Cost-Effective And Strategy-Driven Marketing System. #accountingandaccountants
15.01.2022 Section 708 of the Corporations Act enables a private company to raise up to $2M in a 12 month period from a maximum of 20 retail investors. Retail Investors are defined as people who are not Sophisticated Investors. Sophisticated Investors are people certified by an accountant as having a net wealth of $2.5M or, for the last 2 years, had a gross income for in excess of $250,000.... There is a probation on advertising that the company is seeking to raise capital. Companies, that aspire to raise capital, will need assistance from their accountant in the preparation of a set of documents to identify the company’s current financial position and its vision for the future. The documentation should include: - Financial accounts signed by the company’s directors. - A list of the company’s directors and leadership team. - Business Plan which articulates the company’s vision. - Budget for the next 3 years. - Cashflow Forecast the next 3 years.
12.01.2022 Debtors’ management is often not given a high priority in a business and this can lead to high levels of debt owed to the business. Accountants can assist their clients to improve their debtor’s management systems by encouraging a monthly calculation of Debtors’ Days Outstanding. Debtors efficiency will be enhanced by the utilisation of a written debtors’ management system which will assist the team member, assigned to this task, to perform his/her duties.... Debtors’ management commences with: - The initial agreement with the customer relative to terms of trade and retention of title agreements. - Decision register this customer on the Personal Property Securities Register or not. - Implementation of any requests that the customer has made in relation to the information to be shown on the invoice and the monthly cut of dates for tax invoices to be received by the customer. - Due date for payment shown on the invoice. - Emailing of debtors’ statements within 48 hours of the end of a month.
10.01.2022 Businesses that provide enabling or supporting technologies, imports or services to drive business growth or improve business competitiveness in one or more of the government’s targeted sectors can also access the grants of up to $20,000, on a 50% funding basis, to undertake virtually any activity which will contribute to an improvement in the company’s performance. The types of businesses which meet the eligibility requirements include: - Freight and Logistics - Infrastru...cture Related Construction and Services - Information and Communications Technologies - Digital Technologies - Professional Services Primarily Scientific Activities The targeted sectors include: - Advanced Manufacturing - Food and Agribusiness - Medical Technologies and Pharmaceuticals - Mining Equipment, Technology and Services - Oil, Gas and Energy Resources Accountants, why not identify the clients that you have in these 10 categories of businesses and have a conversation with them?
10.01.2022 Business Advisory Services High Rating at Expo! At the Accounting Business Expo held on 16/17 November the number of presentations relating to Business Advisory Services was very high probably the highest ever for this type of forum. A wide variety of speakers spoke on numerous components of the services that accountants could deliver under the banner Business Advisory Services and Chief Financial Officer Services.... This response adds significant support to the research undertaken by the Commonwealth Bank Accounting Market Pulse Report for the accountancy industry which identified that the supply of Business Advisory Services had been forecast by accountants to be the practice area expected to be most in demand in the next 6 to 12 months. Accountants now have the opportunity of gearing up to supply a wider range of commercial services to SMEs. The presentation that I made relating to the services developed by ESS BIZTOOLS was titled Delivering Business Advisory Services to Add Value. You can access a link to this report - https://youtu.be/Rowzc1h5ZLU.
08.01.2022 There are 3 distinct capital raising opportunities for SMEs, as an alternative to borrowing money from a bank. The capital raising requires companies to issue shares to new shareholders and, in so doing, the company and its directors avoid having to offer security, sign personal guarantee documents and make monthly repayments. The capital raising opportunities are:... 1. Crowd Sourced Funding Equity Raising up to $5 million in 12 months. 2. Early Stage Innovation Company must be a young company that has developed a new product, process or service. 3. Section 708 of the Corporations Act up to $2 million from a maximum of 20 investors in 12 months. ESS BIZTOOLS is presenting a 30-minute discussion on these opportunities on Wednesday 2nd December at 12-noon AEDT (11.00am AEST) featuring Priscilla Bea Smith, Director, Cloud Nine Associates and Peter Towers, Managing Director, ESS BIZTOOLS. To register please go to www.essbiztools.com.au and scroll down to Upcoming Webinars.
02.01.2022 The consequences of not registering on the Personal Property Securities Register can be very expensive. Risk management is very important for every business and one of the major risk categories that accountants can assist clients on is an awareness of the Personal Property Securities Register. Every business should develop a policy of registering customers on the Register so that the business has some protection in the unfortunate event that a customer has an insolvency probl...em. Businesses, which are undertaking contracts with other organisations that relate to services being provided over an extended period of time with progress payments being made, can have a significant problem if their customer has a liquidator appointed and the liquidator issues a claim relating to alleged preferential payments. If the business has registered that customer, there is very little opportunity for the liquidator to be able to make a successful claim against the business.
02.01.2022 Young companies can qualify for the Early Stage Innovation Company status by passing the Principles Test. Five questions need to be answered: 1. Is the company genuinely focused on developing for commercialisation one or more new, or significantly improved products, processes, services, marketing or organisational methods?... 2. Is there high growth potential? 3. Potential to successfully scale the business? 4. Potential to be able to address a broader than local market? 5. Demonstrate competitive advantages? We will be discussing the benefits for young companies, that can successfully answer these questions, achieving the status of an Early Stage Innovation Company which will make the company attractive to potential investors because of the special benefits that investors receive in our Business Advisory Services Update Webinar on Wednesday 2nd December at 12-noon AEDT (11.00am AEST). To register - https://essbiztools-au.zoom.us///WN_TvpsuTBGQNSX6JPb7E1Ezg or go to the ESS BIZTOOLS’ Home Page (www.essbiztools.com.au) and scroll down to Upcoming Webinars.
