• Home
  • Accountant's Minute Blogs

Accountant's Minute

Hello, I’m Peter Towers, Managing Director of ESS BIZTOOLS and ESS BASIP.  Welcome to Accountants Minute. Accountants, there are plenty of challenges in 2017/18 and you probably don’t need me to tell you that. Firstly however, happy new financial year!  I trust that 2017/18 will be a great year for your accountancy business, everyone who works in your firm and all your clients.  ...
Welcome to Accountants Minute.  I'm Peter Towers, Managing Director of ESS BIZTOOLS, ESS BASIP and ESS BIZGRANTS. Accountants, business plans are "real accountants' work", and that's what I want to talk to you about today.  "Real accountants' work". The majority of small/medium enterprises want more information, more commercial information, and more business information from their principal...
Late payments are the “silent killer of small business” Kate Carnell the Australian Government’s Small Business Ombudsman said in her reaction to the UK based “Market Invoice” report in late 2016. Australia has the dubious title of the “Longest Debtors Days Outstanding in the World”.  The report identified that Australian small/medium enterprises were being paid 26.4 days later...
Good for your small/medium enterprise clients who want to access grants so as to improve their business activities with a subsidy from the government. Good for accountants to show your SME clients that you are proactive and acting as the SMEs' “trusted advisor” to assist them to get a grant to improve their businesses by adding value. If it’s good for small/medium enterprises and good...
The Early-Stage Innovation Company legislation has been available since July 2016 but unfortunately there has been little publicity about the significant benefits this legislation offers small/medium enterprises and investors. An accountant rang me last week and asked me whether a “two-year old company that had undertaken a significant amount of research and development to develop a new...
Whilst there was some superannuation available in Australia prior to 1983 it was basically organised by employers with advice from accountants. In 1983 the Federal Government introduced compulsory superannuation with contributions originally at 3% of salary now 9.5% of salary. This event heralded the commencement of “independent businesses” advising individuals and superannuation funds on...
This was the reaction from an experienced principal of an accountancy business when we discussed the opportunities available from “Crowd-Sourced Funding Equity Raising”. My colleague said “with this legislation virtually any type of client will be able to embark on a capital raising journey, in so doing avoiding the need to borrow from friends and families and taking out second and third...
There are a number of opportunities for accountants arising out of the Crowd-Sourced Funding legislation with the first listings on intermediaries' platforms (website) scheduled from 29th September 2017.  Now is the time to get prepared to assist your clients and prospects to be able to avail themselves of this unique opportunity to be able to raise capital from the “crowd”. At this...

Accountancy Firms Wanted!

This could easily be an advertisement in small/medium enterprise magazines as small/medium enterprises contemplate trying to raise capital as Crowd-Sourced Funding Companies.  Each of these applicants is going to require assistance from accountancy businesses for the directors to achieve their aims. In fact, based on an expectation that around 10,000 companies might try to raise capital as...
The Crowd-Sourced Funding Legislation is brand new and therefore presents a fantastic opportunity for accountancy businesses to get involved with this new service. No accountancy business in Australia has a "historical advantage" with Crowd-Sourced Funding because this is new legislation. Now is your opportunity to get involved with a product which will offer a great service that will enable...
Crowd Source Funding is a “new revenue stream” for the Australian accounting industry. One of the benefits is that you do not require a “special license” to act as an advisor to a company which is interested in seeking capital by utilising Crowd Sourced Funding. Crowd Sourced Funding presents accountancy businesses with a great opportunity to differentiate your accountancy business in...
Crowd Funding Offers Significant Benefits to SMEs and Accountants A new opportunity for small/medium enterprises, inventors and entrepreneurs has emerged with the passing by the Australian Senate of the Australian government’s Crowd Sourced Funding Amendments to the Corporations Act. SMEs and others now have three distinct opportunities where they can raise capital from the public without...
CCH iFirm presented a very interesting webinar earlier this week which raised a number of questions relating to how you might go about building a “Future Fit Accountancy Business”. What do you need to create an outstanding accountancy business? Curiosity Focus on building value for your clients How do you view challenges: Threats? or Opportunities? Many of these...
At long last the Australian parliament has passed the legislation that will enable companies to raise capital from the public.  This is a great decision for small medium enterprises, entrepreneurs and members of the public who wish to invest into a new type of company! The legislation indicates that the only entities which can raise money using the crowd sourced funding equity method will be...
Have you contacted your clients to ascertain their debtors' days outstanding?  How many of your clients have debtors' days outstanding similar to the average figure determined in a worldwide review that identified Australia as having the “longest debtors' days outstanding in the World”? The review, covering 80 countries, determined that Australia had an average debtors' days outstanding...
“90% of small business failures are due to poor cashflow” Ms Kate Carnell the Australian Government’s Small Business Ombudsman said recently. “Australia has the longest debtors days outstanding in the world”.  A survey of over 80 countries found that Debtors Days Outstanding in Australia was 26.4 days higher than the normal payment term of 30 days meaning that debtors' days...

Affiliates Wanted

Become an affiliate and earn additional income.
ESS BIZTOOLS’ AFFILIATE CAMPAIGNS
ESS BIZTOOLS is conducting a series of product campaigns for sales of products/services to accountancy businesses, business consultants, advisers and bookkeeping businesses.
AFFILIATE PARTICIPATION ON ESS BIZTOOLS
We are happy to extend an invitation to an affiliate to participate as a supplier of services in promotions to our subscribers. If you are interested in this, could you please contact us?
SMALL/MEDIUM ENTERPRISE MARKET
We have launched the ESS Small Business website which is primarily targeted at small/medium companies and enterprises as well as not-for-profits, charities, sporting and social organisations.

Contact Details

12 Eclipse Street, ROWES BAY, QLD 4810
(07) 4724 1118
Toll Free: 1800 232 088
sales@essbiztools.com.au

Latest Accountant's Minute

  • This Is A Defining Moment!
  • Survival in Difficult Times
  • Coronavirus Stimulus Package for SMEs
  • “Whatever You Thought 2020 Was Going to Be About, Think Again!” Scott Morrison, Prime Minister