Big 6

Welcome to Accountants Minute.

This week I want to talk to you about the “Big 6” – the “Big 6” products that we have on offer for you. Products about which we believe your small/medium enterprise clients will want to learn more.

Crowd Sourced Funding Equity Raising

This is a new opportunity because this legislation is brand new. All you need to do is look out for clients who have companies with turnovers under $25 million and gross asset values under $25 million.

Obviously, the companies will need a “vision” for where they are wanting to go in the future. It could be worthwhile having a discussion with these companies.

Why not invite these companies to a special seminar to acquaint them with the opportunities that Crowd Sourced Funding Equity Raising is making available to SMEs.

Debtors' Days Outstanding

A significant problem area for small/medium enterprises. Helping your clients to reduce debtors' days outstanding is an important function for an accountancy/advisory business.

Australia has the dubious record of having the “longest debtors' days outstanding in the world". By helping your clients you can improve their cashflow.

We have tools to assist you – Debtors' Management Review and SME Debtors' System Manual which you can customise to suit a client’s business systems.

Early Stage Innovation Company Capital Raising

These companies are available for people who have developed new products, processes or services. Turnover in the previous financial year is to be under $200,000 and expenditure under $1 million.

If a company achieves the status of Early Stage Innovation Company, this means that investors in the company obtain a 20% tax rebate based on their investment and are potentially eligible for exemption from capital gains tax when they sell those shares, if they retain the shares for longer than 12 months and less than 10 years.

The “M” Organisations

“M” means “medium sized businesses”. The “M” in SME.

Medium sized businesses are normally considered to be businesses with turnover over $2.5 million. What you could offer these companies is the Chief Financial Officer Service Package because these organisations will be wanting to improve their accountability on all matters financial. Other candidates for Chief Financial Officer Services include Early Stage Innovation Companies and Crowd Sourced Funding Companies.