Welcome to Accountants Minute.
Surveys conducted by major companies over the last 15 years have all indicated that 75% to 80% of SMEs are looking for a wider range of commercial services to be provided by their accountants/business advisors.
Have you had a discussion with your "A Class" clients to ask them what type of services they are looking for?
Many of these clients are probably going to ask you – What type of services can you provide me? They will be looking for you to tell them the type of services that your accountancy business can provide.
I would like to give you a suggestion on a range of services that you might care to gear up to so that your firm could provide a range of commercial services to your clients including:
All of this will contribute to improving the business’ cashflow position.
A due diligence review on the business’ understanding of the Personal Property Securities Act. A regular check to ensure that the system is functioning satisfactorily.
This is an ongoing issue for businesses, both large and small, but not just for the CEO but for every position within the business.
This is an exciting time for small/medium enterprises!
This new opportunity will enable small/medium enterprises to raise capital as a Crowd-Sourced Funding Company or an Early Stage Innovation Company.
This will enable some companies, which have developed a new product, process or technology, to be able to raise finance so they can successfully commercialise their invention and, for other companies, it will enable them to raise capital to pay out loans and credit card debts or to meet the challenges of expanding their businesses.
Each company that tries to raise capital will need assistance from their accountant to prepare the documentation that is necessary in the capital raising process and then to supply the ongoing financial management system to assist the company to trade successfully.
Early Stage Innovation Companies are attractive to many investors because of the potential tax rebate and no capital gains tax, if they hold the shares in the company for more than 12 months and less than 10 years – but to get these investors on board they need to be able to indicate that they have strong accounting skills available to assist them with their business journey.
It’s a buyer's market at present because of the large number of “baby boomers' businesses” that are on the market or are expected to come onto the market over the next few years.
What type of services are you offering to assist your clients to get the best opportunities in the market?
It’s a hard job to sell a business. Have you thought about the strategies that your firm could introduce to assist your clients to sell their businesses?
In this new commercial world, whereby accountants are offering a wider range of business advisory services to SMEs, there will be a requirement for more and more members of an accounting team to have a direct involvement with your clients and the clients’ teams on a wider range of commercial matters than most of them have had in the past. This highlights the necessity for all members of the team to be trained in leadership matters so that they can communicate with clients on a wider range of subjects then just annual accounts and tax.
ESS BIZTOOLS has recently launched our new website which we invite you to visit to see these products and more that have been designed to assist accountants and business advisors to deliver an outstanding range of commercial services for your clients.
I invite you to go to our website www.essbiztools.com.au to view our product offering and I would invite you to apply for a free Guest logon for 30 days so that you can have a good look at the system.
I would like to invite you to attend a free webinar “What Type of Services do your Clients Want?” on Monday, 19th March 2018 at 11.00am AEST (12.00pm AEDT). To register for the webinar please (Click here).
This webinar will give you an overview of the ESS BIZTOOLS website and will show you where you can find the various product packages.
I believe this is what small/medium enterprises want to assist them on their business journeys.
Are you going to provide the type of services that SMEs want?
You are also invited to participate in another of our free webinars:
Wednesday 14th March 2018 at 11.30am AEST - "Business Advisory Services Helping SMEs Add Value" – (Click here) to register.
If you would like to receive any further information on the services, provided by ESS BIZTOOLS, please do not hesitate to contact us.
Watch out for the next episode of "Accountant's Minute" or subscribe to the podcast on iTunes for more news, ideas and tips on providing outstanding non-compliance services to SME clients.
Episode 143 - What Type of Services do your Clients Want?
Latest business advisory news for Accountants in under a minute.
As their trusted advisor, can you assist your SME clients with business advisory services?