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ESS BIZTOOLS Blogs

21st Aug, 2024
Challenges are mounting for SMEs: how can you help?
Challenges are mounting for SMEs: how can you help?
Business Advisory Services Update
Our recent webinar – ‘Fiscal Management – a Starting Point’ – covered a range of very important topics for accountants and bookkeepers relative to providing services to SMEs who are currently facing…
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12th Aug, 2024
Becoming the Brilliant and Trusted Advisors SMEs need today
Becoming the Brilliant and Trusted Advisors SMEs need today
Business Advisory Services Update
The former ATO Commissioner Chris Jordan warned in 2022 that many Accountants needed to adopt a “new business model”, if they were going to remain viable in the next few years. He commented that Acc…
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11th Aug, 2024
Current challenges for SMEs and their impact on Accountants
Current challenges for SMEs and their impact on Accountants
Business Advisory Services Update
The current challenges confronting SMEs include: high interest rates high inflation business failures Paul Robson, CEO of MYOB commented recently: “Fiscal management skills not evident in…
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31st Jul, 2024
Guiding retailers to achieve their profit goals
Guiding retailers to achieve their profit goals
Business Advisory Services Update
Operating a retail business is very tough, and some people embark on a ‘retail journey’ without fully understanding the various issues they will face. Accountants and bookkeepers are not typically tr…
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24th Jul, 2024
Small Business Equity Financing Course: early bird discount promotion ending soon
Small Business Equity Financing Course: early bird discount promotion ending soon
Business Advisory Services Update
Time is running out to perfect your business advisory skills! Register now for the ‘Small Business Equity Financing’ for Advisors and Virtual CFOs eLearning course. Specifically designed for account…
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23rd Jul, 2024
Master Equity Financing for SMEs with our comprehensive eLearning course
Master Equity Financing for SMEs with our comprehensive eLearning course
Business Advisory Services Update
In today’s fluctuating economic climate, businesses must navigate complex financial landscapes to ensure sustainability and growth. Our new eLearning course, Small Business Equity Financing, is desi…
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22nd Jul, 2024
The importance of an effective charge out rate calculators for tradies
The importance of an effective charge out rate calculators for tradies
Business Advisory Services Update
There are thousands of tradie businesses in Australia, and virtually every small/medium sized accounting and bookkeeping firm has one or more business clients under this category. Calculating charge…
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17th Jul, 2024
Master Equity Financing: boost your advisory skills
Master Equity Financing: boost your advisory skills
Business Advisory Services Update
Prepared and presented by Peter Towers, Accountant, Company Director, Consultant, Founder, and Managing Director of ESS BIZTOOLS – email: – website: www.essbiztools.com.au I…
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9th Jul, 2024
Empowering Bookkeepers to DELIVER Advisory Services
Empowering Bookkeepers to DELIVER Advisory Services
Business Advisory Services Update
The recent article in the Financial Review, featuring the CEO of MYOB, Paul Robson, clearly identified FISCAL MANAGEMENT as a significant issue for SMEs. Mr Robson indicated that many SMEs start off…
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8th Jul, 2024
Enhancing profitability for tradies
Enhancing profitability for tradies
Business Advisory Services Update
There are thousands of ‘tradie’ businesses in Australia, and virtually every small/medium sized accounting and bookkeeping firm has one or more ‘tradie’ business clients. Unfortunately, many tradies…
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4th Jul, 2024
Do you know that SMEs are spending BILLIONS on R&D?
Do you know that SMEs are spending BILLIONS on R&D?
Business Advisory Services Update
The Government estimates that Research and Development (R&D) expenditure by SMEs will be approximately $5.83B in 2022/23! The cost to the Government is the Research and Development Tax Offset, w…
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2nd Jul, 2024
Certified Predictive Accounting Program
Certified Predictive Accounting Program
Business Advisory Services Update
PREDICTIVE ACCOUNTING has become the latest buzzword of the Accounting industry, yet not enough people know what it is and how it can be used. The detailed reports that flow from Predictive Accounti…
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26th Jun, 2024
Financial Forecasting Package: Research and Development
Financial Forecasting Package: Research and Development
Business Advisory Services Update
A recent report by the Department of Industry, Science and Resources indicated that the estimated ‘refundable offset’ for “companies with an annual turnover of less than $20M in 2022/23” would be $2…
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26th Jun, 2024
Setting retail prices to achieve targeted profit
Setting retail prices to achieve targeted profit
Business Advisory Services Update
Retailers face ongoing challenges from competition, as well as calculating the price mix correctly. Miscalculations will have a significant effect on fiscal issues for SMEs. Such as overinvestment in…
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26th Jun, 2024
Advisory Intro Package: Tradie Charge Out Rate Calculator
Advisory Intro Package: Tradie Charge Out Rate Calculator
Business Advisory Services Update
There are thousands of ‘tradie’ businesses in Australia and virtually every accounting and bookkeeping firm would have one or more ‘tradie’ business clients. The calculation of charge out rate for t…
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25th Jun, 2024
Fiscal Management: a Starting Point
Fiscal Management: a Starting Point
Business Advisory Services Update
ESS BIZTOOLS will present a webinar, together with Amanda Gascoigne of Amanda Gascoigne Consulting, to discuss strategies that accountants can implement to improve their SME clients’ understanding of…
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25th Jun, 2024
Advanced Package: Early Stage Innovation Company
Advanced Package: Early Stage Innovation Company
Business Advisory Services Update
ESS BIZTOOLS will present a webinar, looking into one of the components of the Advanced Package – Early Stage Innovation Company. The Early Stage Innovation Company (ESIC) capital raising was introd…
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18th Jun, 2024
Are you ready to deliver advisory services?
Are you ready to deliver advisory services?
Business Advisory Services Update
Is your firm prepared and ready to be able to deliver BUSINESS ADVISORY SERVICES to SMEs? ESS BIZTOOLS has developed product packages to assist Accountants and Bookkeepers to deliver a broader range…
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17th Jun, 2024
ESS BIZTOOLS Advanced Package
ESS BIZTOOLS Advanced Package
Business Advisory Services Update
The ESS BIZTOOLS’ Advanced Package is packed with tools and insights to help you and your clients succeed. This package includes: Client Seminars ESS Papers SME Needs Analysis Tradies Charge Ou…
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4th Jun, 2024
Advisory Intro Package - what's included?
Advisory Intro Package - what's included?
Business Advisory Services Update
The ESS BIZTOOLS’ ADVISORY INTRO PACKAGE has been developed for Bookkeeping and Accounting Firms, to better equip them to offer advisory services to SMEs, Charities, Not-for-Profit Organisations and…
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3rd Jun, 2024
Advisory Intro Package
Advisory Intro Package
Business Advisory Services Update
Over the last few years, we have received multiple enquiries from bookkeepers who wanted to know about the resources that they could access by becoming a subscriber to ESS BIZTOOLS. As a result, a nu…
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29th May, 2024
The importance of follow-up
The importance of follow-up
Business Advisory Services Update
When it comes to communicating with clients and prospects through newsletters, follow-up is crucial and integral to the process. We recommend reaching out to specific clients or prospects. Discuss i…
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28th May, 2024
Newsletter is a great communication tool
Newsletter is a great communication tool
Business Advisory Services Update
Brad Smart, author of Selling the Message, affirms that a WRITTEN COMMUNICATION SYSTEM is very important for Accountants and Bookkeepers. 17 years ago, ESS BIZTOOLS launched Business Plus+ Newslette…
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27th May, 2024
Are you communicating to SMEs?
Are you communicating to SMEs?
Business Advisory Services Update
“In presentations, as in the rest of life, sticking with the same old presenting styles on the basis of “that’s how I have always done it” really means you are standing still while the rest of the wo…
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21st May, 2024
Do you aspire to be the financial expert?
Do you aspire to be the financial expert?
Business Advisory Services Update
The recent report by the ASIC indicates that small business failures have jumped to 34% this financial year. This highlights the significant problems that SMEs have. Not understanding FISCAL MANAGEM…
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15th May, 2024
Delivering advisory services for SME growth
Delivering advisory services for SME growth
Business Advisory Services Update
Whether you’re beginning your advisory services journey, or if this is not your ‘first rodeo’, the following are some of the types of services that will help SMEs to survive and ‘scale up’… Understa…
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14th May, 2024
Why provide advisory services?
Why provide advisory services?
Business Advisory Services Update
According to ASIC, small business failure has jumped 34% this financial year! “A large number of small businesses go out of business in their first six months not because their idea was a bad one bu…
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13th May, 2024
Be the first trusted advisor for SMEs
Be the first trusted advisor for SMEs
Business Advisory Services Update
The challenge for Bookkeepers, Accountants and Business Advisers is to have an awareness of the SME client’s business operations, significantly broader than the information required to complete the t…
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8th May, 2024
How can ESS BIZTOOLS help? Part 2
How can ESS BIZTOOLS help? Part 2
Business Advisory Services Update
Other products that ESS BIZTOOLS offer include: Introduction to R&D Tax Rebate: a great resource to allow you to provide R&D financial advisory service to your SME clients. Introduction to…
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7th May, 2024
How can ESS BIZTOOLS help? Part 1
How can ESS BIZTOOLS help? Part 1
Business Advisory Services Update
The ESS BIZTOOLS subscription packages contains a wide range of resources to help Bookkeepers and Accountants to deliver the type of services SMEs are seeking. Some of these resources are: SME Needs…
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3rd May, 2024
SMEs are on the lookout for proactive advice
SMEs are on the lookout for proactive advice
Business Advisory Services Update
SMEs are on the lookout for proactive advice ADVISORY SERVICE entails Bookkeepers and Accountants assisting SMEs beyond the past – with their present and future business issues. Being the ‘historian…
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1st May, 2024
Were they warned?
Were they warned?
Business Advisory Services Update
Peter Towers of ESS BIZTOOLS and Trevor Marchant of Marchant Dallas recently presented a podcast, discussing strategies that could be implemented to reduce small business failures, and what can Accou…
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24th Apr, 2024
Streamlined financial management: daily, weekly and monthly accountability
Streamlined financial management: daily, weekly and monthly accountability
Business Advisory Services Update
At the end of the month, monthly Financial Accounts should be prepared for each business operation, with a comparison to budge, with monthly KPIs and Business Metrics prepared. This is the process t…
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23rd Apr, 2024
Bridging the gap: weekly performance insights for SMEs
Bridging the gap: weekly performance insights for SMEs
Business Advisory Services Update
Compare the large business’ weekly operations to what happens in most SMEs… It would be a very rare occasion at present that an SME is receiving input from their accounting/bookkeeping firm on a pro…
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22nd Apr, 2024
Unlocking growth: applying large business management principles to SMEs
Unlocking growth: applying large business management principles to SMEs
Business Advisory Services Update
A significant difference in management/accounting approach by large businesses, as compared to SMEs, is that many large businesses operate as a ‘group of small businesses’, under the control of an ar…
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16th Apr, 2024
52-Week Business Enhancement System – what’s involved?
52-Week Business Enhancement System – what’s involved?
Business Advisory Services Update
The detail components of the system include business due diligence review by the bookkeeping/accounting firm, to achieve ‘an inch wide and a mile deep’ understanding of the client’s business operatio…
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16th Apr, 2024
SMEs want what large companies are having too!
SMEs want what large companies are having too!
Business Advisory Services Update
To be the EXPERT and deliver Advisory Services is to embrace the concept of the 52-Week Business Enhancement System. This system involves the following activities: Daily: KPIs and Business Metrics R…
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15th Apr, 2024
Be the expert: offer Advisory Services!
Be the expert: offer Advisory Services!
Business Advisory Services Update
Accountants and Bookkeepers can offer a virtual CFO service to their clients. This involves a lot more than just preparing financial accounts. With today’s technology, software and communication faci…
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11th Apr, 2024
Buying a Business Education Pack
Buying a Business Education Pack
Business Advisory Services Update
The ESS BIZTOOLS’ ‘Buying a Business Product Package’ includes ‘Buying a Business Education Pack’, which contains commentary on: Thinking about buying a business Business structures Budgets and ca…
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10th Apr, 2024
Purchasing a Business Checklist
Purchasing a Business Checklist
Business Advisory Services Update
The ‘Purchasing a Business Checklist’, which is included in the ESS BIZTOOLS’ ‘Buying a Business Package’, identifies many potential traps involved in purchasing a business which could include: Does…
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9th Apr, 2024
Are any of your SME clients plan on buying a business?
Are any of your SME clients plan on buying a business?
Business Advisory Services Update
ESS BIZTOOLS has introduced the ADVISORY INTRO PRODUCT PACKAGE, developed to assist Bookkeepers and Accountants who are considering delivering a broader range of professional services to SMEs. Inclu…
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4th Apr, 2024
WEEKLY REFLECTIONS: Advisory services start with communication
WEEKLY REFLECTIONS: Advisory services start with communication
Business Advisory Services Update
Business Plus+ Newsletter, released on the second Friday of each month, is a communication tool for Bookkeepers and Accountants that can aid with informing your SME clients and prospects on the wide…
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3rd Apr, 2024
A conversation with a client
A conversation with a client
Business Advisory Services Update
SMEs welcome the opportunity to have a discussion with their bookkeeper/accountant on issues relating to their business activities and not always on taxation matters. The art of ‘Delivering Advisory…
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3rd Apr, 2024
Accountants and Bookkeepers – do you have a communication tool?
Accountants and Bookkeepers – do you have a communication tool?
Business Advisory Services Update
Newsletters are great communication tool which will help you convey to your clients and prospects that you are able to deliver ADVISORY SERVICES. ESS BIZTOOLS has developed Business Plus+ Newsletter…
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25th Mar, 2024
Research and Development lodgement time
Research and Development lodgement time
Business Advisory Services Update
Accountants who assist SMEs with advice on R&D know that the deadline for the lodgment of the R&D Tax Incentive application – Registration of R&D activities is 30 April 2024. A summary o…
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21st Mar, 2024
WEEKLY REFLECTIONS: “Corporate insolvencies spike to a decade high”
WEEKLY REFLECTIONS: “Corporate insolvencies spike to a decade high”
Business Advisory Services Update
“Corporate insolvencies spike to a decade high” – Australian Financial Review, 20 March 2024 This heading highlights the urgency of ADVISORY SERVICES being delivered by Accountants and Bookkeepers…
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20th Mar, 2024
Advisory services assist diversification
Advisory services assist diversification
Business Advisory Services Update
Offering advisory services to SMEs by Bookkeepers and Accountants assists in the diversification of the firm’s activities so as to give some protection from the challenges predicted by the Tax Commis…
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19th Mar, 2024
Assisting retailers to generate targeted profit
Assisting retailers to generate targeted profit
Business Advisory Services Update
Bookkeepers and Accountants who are offering Advisory Services can make some valuable input to retailers, who have to wrestle with a different situation from tradies when setting retail prices to ach…
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18th Mar, 2024
‘Advisory Intro’ launched for Bookkeepers and Accountants
‘Advisory Intro’ launched for Bookkeepers and Accountants
Business Advisory Services Update
The new ‘ADVISORY INTRO PRODUCT PACKAGE’ has been developed by ESS BIZTOOLS, to assist Bookkeeping/ Accounting firms to deliver Advisory Services to SMEs, charities, not-for-profit and sporting organ…
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14th Mar, 2024
WEEKLY REFLECTIONS: Trusted advisor delivery is changing!
WEEKLY REFLECTIONS: Trusted advisor delivery is changing!
Business Advisory Services Update
Delivery of COMPLIANCE and ADVISORY SERVICES is what SMEs deserve from their TRUSTED ADVISOR. “The role of a TRUSTED ADVISOR is crucial in helping people and businesses find ways to continue to thri…
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12th Mar, 2024
Predictive accounting creates storytellers
Predictive accounting creates storytellers
Business Advisory Services Update
Predictive Accounting enables the ‘Financial Interpretation’ of the Business Plan to be prepared by Accountants. This process has the significant benefit of ‘bringing the business plan to life’. Wi…
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11th Mar, 2024
Week-by-week accounting VITAL for success
Week-by-week accounting VITAL for success
Business Advisory Services Update
Accountants and bookkeepers are aware that the old concept of producing an annual set of accounts and income tax return is not enough data for a business to survive. The ‘52-WEEK BUSINESS ENHANCEMEN…
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29th Feb, 2024
WEEKLY REFLECTIONS: Heed the warning? Advisory services enhance viability!
WEEKLY REFLECTIONS: Heed the warning? Advisory services enhance viability!
Business Advisory Services Update
18 months ago, the Tax Commissioner delivered a message to Bookkeepers and Accountants: “You must understand that if your business model is high-volume, low margin, simple tax returns, your business…
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28th Feb, 2024
Setting SMEs up to succeed
Setting SMEs up to succeed
Business Advisory Services Update
This is a very important role for SME Advisers. After the ‘Due Diligence Review’ on the business operations, we now move into the serious business relating to the preparation of a Business Plan for…
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27th Feb, 2024
Keen to deliver advisory services to SMEs?
Keen to deliver advisory services to SMEs?
Business Advisory Services Update
Bookkeeping firms and bookkeeping sections within accountancy firms certainly have a lot of contact with their SME clients on a daily, weekly or monthly basis. This means it is very important that t…
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26th Feb, 2024
Systems foundations vital
Systems foundations vital
Business Advisory Services Update
Financial Records are prepared not just for the preparation of annual financial statements and tax returns. The basic financial records are the FOUNDATION on which the business is built – just like a…
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23rd Feb, 2024
WEEKLY REFLECTION: Model service delivery on larger businesses
WEEKLY REFLECTION: Model service delivery on larger businesses
Business Advisory Services Update
Annual accounts and tax returns are not enough data to successfully operate a business. SMEs need monthly financial accounts, as well as business KPIs and metrics, comparison to budgets – data simil…
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22nd Feb, 2024
Documenting the vision
Documenting the vision
Business Advisory Services Update
A key component of Accountants/Bookkeepers services to SMEs beyond the preparation of annual accounts and income tax return is to assist your SME client to ‘DOCUMENT THE VISION’. This is a very impo…
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21st Feb, 2024
Learn from larger businesses
Learn from larger businesses
Business Advisory Services Update
Accountants and bookkeepers: by encouraging your SME clients to think like a “larger business”, they will understand the benefit of receiving continuous information relating to their business. Where…
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19th Feb, 2024
Are the annual accounts and tax return enough?
Are the annual accounts and tax return enough?
Business Advisory Services Update
Absolutely not! One of the real problems confronting SMEs is that most professional accounting firms are only concentrating on the production of an annual set of accounts and taxation return for bus…
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16th Feb, 2024
WEEKLY REFLECTION: Most capital raising from SMEs start with Section 708
WEEKLY REFLECTION: Most capital raising from SMEs start with Section 708
Business Advisory Services Update
The 20/12 rule known as the ‘Small Scale Offerings’ has been a great source of capital for thousands of SME companies for about 40 years. Advertising and marketing this type of capital raising is no…
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16th Feb, 2024
Documentation for investors
Documentation for investors
Business Advisory Services Update
Companies seeking to raise funds from investors by utilising Section 708 of the Corporations Act need to ensure that only ‘personal offers’ are made, and that there is no marketing or advertising rel…
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16th Feb, 2024
Documentation for investors
Documentation for investors
Business Advisory Services Update
Companies seeking to raise funds from investors by utilising Section 708 of the Corporations Act need to ensure that only ‘personal offers’ are made, and that there is no marketing or advertising rel…
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13th Feb, 2024
Do small companies need a ‘disclosure document’ to raise capital?
Do small companies need a ‘disclosure document’ to raise capital?
Business Advisory Services Update
NO, this is a MYTH! Section 708 of the Corporations Act gives a special exemption from having to produce a ‘Disclosure Document” for companies undertaking ‘Small Scale Offerings’. This is commonly k…
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12th Feb, 2024
Taxation Benefits for Investors
Taxation Benefits for Investors
Business Advisory Services Update
Investors who contribute capital to a company that wishes to qualify as an Early Stage Innovation Company (ESIC) receive significant taxation benefits from the ATO for their investment in a company t…
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7th Feb, 2024
Eligibility tests for innovative companies
Eligibility tests for innovative companies
Business Advisory Services Update
A company aspiring to have ‘Early-Stage Innovation Company Status’ is required to pass one of two subsequent tests: Gateway test, or Principles test To qualify under the Gateway Test, the company…
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5th Feb, 2024
Early-Stage Innovation Company status only available for established companies?
Early-Stage Innovation Company status only available for established companies?
Business Advisory Services Update
This is a MYTH! The ‘Early-Stage Innovation Company Status’ was created by amendments to the Income Tax Act, to enable small, young companies that have been undertaking ‘innovative activities’, to b…
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2nd Feb, 2024
WEEKLY REFLECTIONS: Small companies can raise capital but they need assistance by Accountants!
WEEKLY REFLECTIONS: Small companies can raise capital but they need assistance by Accountants!
Business Advisory Services Update
BIRCHAL have reported that only “380 companies were successful in raising capital from Crowd Sourced Funding Equity Raising in 5 years.” EQUITISE have reported that they “take on fewer than 5% of th…
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1st Feb, 2024
Crowd Sourced Funding Implementation
Crowd Sourced Funding Implementation
Business Advisory Services Update
The vast majority of companies who are interested in raising capital require assistance from Accountants who can perform the ‘Chief Financial Officer’ role, to prepare the company’s documentation and…
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31st Jan, 2024
Crowd Sourced Funding is a ‘funding opportunity’ for SMEs
Crowd Sourced Funding is a ‘funding opportunity’ for SMEs
Business Advisory Services Update
Accountants and Bookkeepers servicing the SME market need to have an awareness of the ‘fund raising opportunities’ that Crowd Sourced Funding Equity Raising presents for SMEs. An ASIC appointed Crow…
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30th Jan, 2024
Small companies don’t have to borrow
Small companies don’t have to borrow
Business Advisory Services Update
The Crowd Sourced Funding Equity Raising amendments to the Corporations Act in 2018 enabled private companies to be able to offer the public shares as an alternative to borrowing money. Crowd Source…
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29th Jan, 2024
Crowd Sourced Funding Equity Raising only for public companies?
Crowd Sourced Funding Equity Raising only for public companies?
Business Advisory Services Update
This is a MYTH! Whilst eligible ‘Unlisted Public Companies’ are able to utilise Crowd Sourced Funding Equity Raising to raise capital, very importantly, so can ‘Private Companies’. When the legisla…
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25th Jan, 2024
WEEKLY REFLECTIONS: Accountants – SMEs need assistance on R&D
WEEKLY REFLECTIONS: Accountants – SMEs need assistance on R&D
Business Advisory Services Update
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25th Jan, 2024
R&D action!
R&D action!
Business Advisory Services Update
Companies with turnovers over $20M can also claim the R&D offset but on a different basis to that available for companies with turnovers under $20M. For large companies, the non-refundable R&…
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24th Jan, 2024
Research and Development – time for implementation!
Research and Development – time for implementation!
Business Advisory Services Update
We have identified that it is a myth that R&D is only for large businesses. We have also mentioned how being proactive in advising SME companies on R&D can be a ‘mainstream service’ for Accou…
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23rd Jan, 2024
Research and Development can be a mainstream service
Research and Development can be a mainstream service
Business Advisory Services Update
Accountants and bookkeepers who are offering Advisory Services to SME businesses find that there are significant numbers of SMEs who are undertaking Research and Development (R&D) projects. The…
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22nd Jan, 2024
Research and Development for large businesses only?
Research and Development for large businesses only?
Business Advisory Services Update
This is a myth! Companies with turnovers under $20M were expected to earn $2.54B in 2022/23 as being the value of the Refundable Tax Offset that is available for companies which have spent legitimat…
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19th Jan, 2024
Reflections: Are your SME clients SOPHISTICATED INVESTORS?
Reflections: Are your SME clients SOPHISTICATED INVESTORS?
Business Advisory Services Update
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17th Jan, 2024
The Giant Awaking
The Giant Awaking
Business Advisory Services Update
The ‘2024 NAB Accounting and Financial Planning Report’ stated that “85% of the accounting firms surveyed indicated they were “offering business strategy”. Whilst we believe the key indicator is the…
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16th Jan, 2024
Delivering advisory services?
Delivering advisory services?
Business Advisory Services Update
It looks like 2024 is going to be another challenging year for SMEs. Is your accounting/bookkeeping firm able to supply the support services that your clients need? Some of the key issues… Inflatio…
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6th Dec, 2023
Delivering not offering!
Delivering not offering!
Business Advisory Services Update
The NAB Professional Services Report, ‘The People Profession: New Opportunities for Growth’, has made some interesting observations on the state of the Australian Accounting Industry. Whilst it is p…
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4th Dec, 2023
Innovation enhancement
Innovation enhancement
Business Advisory Services Update
The ‘Early-Stage Commercialisation segment’ of the newly announced ‘Industry Growth Program’ is targeted at small companies that may be still in the R&D phase, who are now contemplating the journ…
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27th Nov, 2023
Enhancement for tradies!
Enhancement for tradies!
Business Advisory Services Update
The Tradie Charge out Rate Calculator gives accountants and bookkeepers a great opportunity to be able to discuss with Tradie clients the implementation of a “Business Improvement System”, to assist…
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21st Nov, 2023
R&D discussions?
R&D discussions?
Business Advisory Services Update
Accountants, a significant opportunity is available to assist SMEs to undertake the preliminary work that will enable them to make a lodgement to claim for R&D tax offset. Unfortunately, many SM…
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20th Nov, 2023
R&D costings are important!
R&D costings are important!
Business Advisory Services Update
SMEs with turnovers from nil to $20million can obtain a cash refund equivalent to the R&D rebate if the company is trading at a loss. The documentation that is required to be submitted to the go…
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14th Nov, 2023
Tradies need help!
Tradies need help!
Business Advisory Services Update
Where to start for small accounting firms and bookkeepers on the “Business Advisory Journey” - why not become an expert on services for tradies? Assistance can be provided for tradies in a number of…
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6th Nov, 2023
Advisory services - the new mantra for SMEs
Advisory services - the new mantra for SMEs
Business Advisory Services Update
Inflation too high, interest rates too high, unemployment about 2.7%, business failures are increasing, cost of living is rising very fast. Debtors days outstanding are increasing – causing cash flo…
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30th Oct, 2023
Start the conversation with the SME Needs Analysis
Start the conversation with the SME Needs Analysis
Business Advisory Services Update
Unsure where to start with having a conversation with some clients about implementing advisory services? Why not visit one or two clients with the SME Needs Analysis, developed by ESS BIZTOOLS? The…
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18th Oct, 2023
Real time management is important
Real time management is important
Business Advisory Services Update
The 52-Week Business Enhancement System enables Accountants/Bookkeepers to deliver “real time services” similar to what many larger businesses enjoy, which will be very beneficial to SME clients. Th…
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17th Oct, 2023
Enhanced system commences with bookkeeping
Enhanced system commences with bookkeeping
Business Advisory Services Update
The logical place to commence the 52-Week Business Enhancement System for SMEs is a full review of the bookkeeping system. Why? Most SMEs will benefit by receiving a regular “daily business report”…
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11th Oct, 2023
What is worrying your client?
What is worrying your client?
Business Advisory Services Update
There are a lot of issues confronting business operators at present. High interest rates, supply chain difficulties, high inflation, staffing difficulties, to name a few. Our suggestion is that you…
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10th Oct, 2023
You need to look at the trends!
You need to look at the trends!
Business Advisory Services Update
“Accountants and bookkeepers need to understand what is happening in the marketplace.” This was a statement from Andrew Geddes, joint Founder of FMRC and Chair of the ASX top 200 Company, Greencross…
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4th Oct, 2023
It starts with a plan!
It starts with a plan!
Business Advisory Services Update
The foundation for all successful businesses is that they have a plan. This is the “BUSINESS PLAN”. You may have got to this stage by having a “one-on-one meeting” with your client – reviewing what…
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3rd Oct, 2023
The evolution of accounting services – are you ready?
The evolution of accounting services – are you ready?
Business Advisory Services Update
This is the dilemma that many accountancy firms are facing. Choices need to be made to ensure that firms survive in a rapidly changing industry. Of particular concern is how quickly low-end tax com…
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27th Sep, 2023
The big question is…
The big question is…
Business Advisory Services Update
Can accountants diversify some of their services from a compliance dominance to being able to offer a virtual CFO service to their SME clients? There is an opinion that some accountants are very bus…
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25th Sep, 2023
SMEs need financial services now!
SMEs need financial services now!
Business Advisory Services Update
SMEs are looking for accountants/bookkeepers to provide them with key information that they can use daily/weekly/monthly to navigate the future. You might ask, “Can we move from compliance to extern…
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20th Sep, 2023
Starting the “scaling up” process
Starting the “scaling up” process
Business Advisory Services Update
“Scaling up” just doesn’t happen! There is no quick fix, the process requires planning, discipline and adherence to systems. Accountants who are embracing the concept of providing Business Advisory…
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18th Sep, 2023
More than straight accounting knowledge needed!
More than straight accounting knowledge needed!
Business Advisory Services Update
Accountants who are performing a virtual CFO service for SMEs normally realise that there is more involved in offering these types of services than just the preparation of financial accounts. In mos…
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13th Sep, 2023
SMEs need effective foundations
SMEs need effective foundations
Business Advisory Services Update
Every so often, most accountants experience a client that starts a business in a great flurry! Turnover climbs quite quickly and then unfortunately things go wrong. The challenge for accountants is…
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11th Sep, 2023
Trends analysis helps SMEs
Trends analysis helps SMEs
Business Advisory Services Update
Accountants can assist SME business operators to conduct a full review of their businesses by coordinating a TOWS Analysis. “T” is for Trends “O” is for Opportunities “W” is for Weaknesses “S” is…
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