SMES need assistance now!

Small accounting firms were within the group that the Thomson Reuters’ White Paper “Leading Australian SMEs In 2023’s Changing Economy” was talking to when they said:

“A number of ominous words were used in our interviews to describe what the majority of SMEs have faced over the last couple of years – CHALLENGING, DIFFICULT, UNPRECEDENTED, DEMANDING. However, looking forward the new mantra for SMEs should be “THE PAST HAS NO FUTURE.”

Does this inspire you to introduce Advisory Service, as part of your service offering to your SME clients? I hope so, because the marketplace is changing.

“Diminished returns flowing into practices relying solely on tax compliance work are going to impact sooner rather than later.” Andrew Geddes, Australian Accounting Guru, said a few weeks ago.

What services could you offer to your SME clients?

• Setting Tradie Charge out Calculator – a very popular calculator that our members use with their tradie clients.

• Setting Retail Price Calculator – helping solve the problem of the product mix and variable mark-ups to achieve the targeted profit.

• Debtors Management – is an enormous problem for the majority of SMEs – helps your clients reduce “debtors days outstanding”.

• Buying a Business – gives you a range of checklists that you can use to undertake due diligence reviews, to help the client buy a business.

• Setting Professional Firms’ Charge out Calculator – make sure all of the costs are included and realistic productivity figures utilised.

These are some of the documents contained within the ESS BIZTOOLS Starter Package which, with the SME Needs Analysis, will assist in the identification of work that your client requires to improve their business performance.

There is still time to register to our complimentary webinar, to be held today at 12pm AEST, where you can find out more about how small accounting firms can diversify services by offering an improved range of advisory services to SMEs. Click here to register.