Ready For A Change?
Accountant's Minute 312
Change is always difficult and there never is a really good time to implement it. Let’s look at the current situation in Australia. The Reserve Bank Governor’s forecast last week, that he expected unemployment to be about 3.7% later this year, highlighted that the Reserve Bank Directors believe that economic conditions are going to be better this year and, in fact, the forecast unemployment percentage is the lowest in 50 years.
What does this mean to your SME clients?
How many of them will be wanting to take advantage of the expanded business opportunities and, in so doing, will they be asking you to help them:
- with the preparation of Financial Forecasts, Budgets, Cashflow Forecasts and Projected Balance Sheets;
- with questions about how they fund their business – do they borrow money from banks? If so, do they have security that they can offer the banks?
Will they be talking to you about the new opportunities (that have been available for about 4 years, but many people think they’re still new) – Crowd Sourced Funding Equity Raising (over $100 million has now been raised by Australian SMEs) and Early Stage Innovation Company Capital Raising.
How many of your clients have been undertaking research and development activities during the COVID lockdown periods and do some of them now need your advice relative to being able to claim the research and development expenditure?
The first problem will be, are they operating as a company? That may have been forgotten because you didn’t have the time to understand what they were doing, or they didn’t tell you because they were worrying about the protection of their intellectual property.
These things happen, but they happen more often when you are trying to juggle various commitments relating to taxation issues which could have been delegated to other team members, so that you have for effective conversations with clients who are looking for advice on how to run their businesses more effectively and make up for the problems that many of them have suffered in the last two years.
Now is a great time to make the change!
IT SHOULD BE INSTIGATED AS YOUR 3 MONTH KEY OBJECTIVE FROM 1 MARCH TO 31 MAY 2022.
The social media posts that we prepared in the previous week were all centred on assisting accountants to grasp the opportunity to make changes now.
- Click on “Communication Is Important” or you can watch the video recording click here.
- Click on “Crowd Sourced Funding Equity Raising - Why SME Directors Love It” or you can watch the video recording click here.
- Click on “Business Advisory Services Update - Crowd Sourced Funding - Why Accountants Should Be Advocates” or you can watch the video recording - click here.
- Click on “Business Advisory Services Update - Ready for a Change” for you can watch the video recording click here.
- Click on “Business Advisory Services Update - Have You Done Compliance For Too Long?” Or you can watch the video recording click here.
- Click on “Business Advisory Services Update - Trusted Business Advisor Comes With An Obligation” or you can watch the video recording click here.
Want to know more about ESS BIZTOOLS?
Please visit our upgraded website – www.essbiztools.com.au and www.essbizgrants.com.au to review the product packages and we invite you if you are impressed to subscribe before close of business Monday, 28 February 2022 to obtain the outstanding 55% discount that we are offering to assist you to get ready to meet the challenges of 2022.
Free Strategy and Demonstration Session?
You are invited to “Book A Free Strategy and Demonstration Session” on ESS BIZTOOLS with Peter Towers, Managing Director, ESS BIZTOOLS to gain a better understanding of the services that are available within ESS BIZTOOLS and ESS BIZGRANTS?
You can book a demo at www.essbiztools.com.au or contact Peter Towers:
