Were They Warned?
Advisory Services News - Issue 17
Welcome to this update on ESS BIZTOOLS ADVISORY SERVICES NEWS.
WERE THEY WARNED?
In this week’s ESS BIZTOOLS PODCAST Peter Towers, Managing Director, ESS BIZTOOLS discusses issues with Trevor Marchant, Managing Director, Marchant Dallas relating to strategies that could be implemented to reduce small business failures and what can Accountants and Bookkeepers do to work less, earn more and make a real difference to your client’s lives?
You can download the PODCAST recording by clicking here.
Key items discussed:
Small business failures have jumped 34% this financial year.
Report by Paul Robson CEO MYOB in the “Financial Review” identified SMEs that failed within six months had “Poor Fiscal Management Skills”.
Bookkeepers and Accountants can undertake important services in mentoring potential business operators of the traps that they will probably encounter as a business operator.
There is a need to prepare a Business Plan, Budgets and Cash Flow Forecast.
Need realistic assumptions on Supplier Payments – do not just assume that the supplier will grant 30 day payment terms.
If key customers are businesses, credit will have to be given. The management of debtors is then very important.
ESS BIZTOOLS includes complete sections relating to the “Challenges Of Commencing A Business.”
We would welcome your feedback relative to the theme of this Podcast – Were They Warned? Please send us an email – or email
You can find out more information by clicking on www.essbiztools.com.au or sending us an email or Telephone (07) 4724 1118
