Is Your Client Having Problems Borrowing from Banks
Accountant's Minute 219
Bank problems?
Are your clients having difficulties borrowing from banks?
Peter Towers, Managing Director, ESS BIZTOOLS, will be making a presentation to the Crowdfunding Institute of Australia next Friday and would love your input as to what is currently happening in your location.
We would like to invite you to answer two questions:
Question Number 1
“How many of your clients are experiencing difficulties in borrowing money from banks at present?”
Question Number 2
“Where is your accountancy firm located – capital city, regional area, country area?”
CROWD SOURCED FUNDING EQUITY RAISING SCORECARD
68 companies have raised $45.1 million over the last two years.
We do not think that this is a good enough result! Not enough small and medium-sized enterprises know enough about Crowd Sourced funding Equity Raising, especially at this time when it's very difficult to deal with banks.
At the Crowdfunding Institute of Australia Roundtable Meeting in Sydney next week ESS BIZTOOLS is making a submission requesting the Crowd Sourced Funding Intermediaries to support the concept of an “Accountants' Accreditation Process” for Crowd Sourced Funding Equity Raising.
The proposal would be that the Crowd Sourced Funding Intermediaries would be prepared to distribute a list of the people who have completed the “Accountants' Accreditation Course” to any companies that have approached a Crowd Sourced Funding Equity Raising Intermediary who the Intermediary considers is not “investment ready”.
In the Intermediaries' Survey, there was strong support from Intermediaries for the concept of an “Accountants' Accreditation Process”.
CROWD SOURCED FUNDING INTERMEDIARIES' SURVEY
The Crowd Sourced Funding Intermediaries have issued businesses a “poor” result from the recent survey.
What percentage of businesses were rejected because they had no understanding of Crowd Sourced Funding Equity Raising?
Response: 50% to 95%
I think this result really highlights a great opportunity for accountants to offer a broader range of professional services to assist these companies to become investment ready!
You can access a summary of the survey report for “Want To Know More?”
I invite you to listen to the Accountants Minute video which will give you more details on some of these key items, some of which you may be able to use as strategies with your clients throughout 2020.
If you have a friend or colleague who you think might find this article interesting, please forward it to them.
Have a Great Day!
