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First Anniversary - An Opportunity to Add Value

Accountant's Minute 212

Yes, 19 October 2019 was the first anniversary of the commencement of Crowd Sourced Funding Equity Raising when private companies were able to raise capital direct from the public. If you have clients who have a turnover of less than $25 million per annum and have gross assets valued at less than $25 million and are not listed on the Stock Exchange they are potentially eligible to raise...

“Cash” – A Vital Ingredient!

Accountant's Minute 211

Accountants can play a very important role in assisting clients to source one of the key components of the life-cycle of a business – “cash”! In “Scaling Up” Verne Harnish identified that “having plenty of cash to weather the storms” was one of the four lifecycles of a business. As businesses grow, they normally require more money. As your clients’ businesses grow it is...

Leadership Development - A Value Adding Contribution

Accountant's Minute 210

Attracting and keeping the right people is one of the four essential components of the “life cycle of a business”! (Verne Harnish – “Scaling Up”). Where-ever there is “people” there is also a requirement for “leadership.” The development of “leadership skills” for team members is vital if a business is going to be able to develop internal people to undertake leadership...

People Input Helps Clients Add Value

Accountant's Minute 209

Attracting and keeping the right people is one of the four essential components of the “Life cycle of a business”! (Verne Harnish – “Scaling up”) Most small business owners and management of medium sized enterprises need assistance in implementing strategies to employ great team members who can be developed as the leaders within the business. Does your client have the “right...

Flawless Execution Vital for Success!

Accountant's Minute 208

“Driving flawless execution is a vital ingredient of the life-cycle of most businesses” Verne Harnish wrote in “Scaling up”. How do accountants assist small businesses or medium sized enterprises to plan and deliver the execution of a business strategy especially for those clients who are asking “Can You Help Me Run a Better Business”? There are some key areas that proactive...

Helping Clients Create a Strategy - A Value Adding Service!

Accountant's Minute 207

This article is a continuation of our series on “Help Me Run a Better Business” (refer to Accountants Minute 204, 205 and 206) The development of a strategy that is different from their competitors is very important for small businesses and medium sized enterprises. In “Scaling up” Verne Harnish indicated that a “Differential Strategy” is one of the key “Lifecycles of a...

Do Financial Accounts Add Value

Accountant's Minute 206

Do Financial Accounts “Add Value”? Have you ever had a critical look at the Financial Accounts that your firm is preparing? Do your clients get value from the Financial Accounts that your firm is preparing? Does the Profit and Loss Account look something like the following: Income   $3,200,000 Less     Opening Stock $70,000  ...

Supply “Value Adding” Services!

Accountant's Minute 205

 There has been some debate about fee level of services for accountants recently – refer “Accountant’s Daily” article 26 July 2019 “Is $5,000 Reasonable to Pay Accountants Annually?” There is a resistance from some business operators to paying premium fees for “compliance work”. Most clients do not perceive that there is any “value add” to them from the supply of...

It Is Time To Spell It Out ..... Help Me Run a Better Business!

Accountant's Minute 204

“The truth is that while I’ve been patiently waiting for you to escape the compliance cubicle, I cannot hang around much longer. Business is getting more competitive by the day and I need your help! Over the years, I’ve sat through meeting after meeting with you about my tax returns.  To be honest, I do this under sufferance – tax does not light me up! Besides, I pretty much...

31,141 People Have Invested an Average of $1,207!

Accountant's Minute 203

The Crowd Sourced Funding Equity Raising Scorecard produced by ESS BIZTOOLS as at 31 July 2019 has identified that 31,141 investors have invested an average of $1,207 in the 44 companies that have raised $37,586,246.  (Click here to view the Scorecard) This uptake indicates that after a slow start Crowd Sourced Funding Equity Raising is starting to raise much needed capital for Small...
What is in it for a company? Ability to raise up to $5 million in a 12 month period direct from the public This is not a loan therefore: No loan application required No security required No personal guarantees required No monthly repayments of principal and interest required The company issues ordinary shares to the investors What does your client want to achieve...
Accountants can assist companies to prepare the documentation that they will require: Business Plan Budgets/Cash Flow Forecast Customer analysis Identification of unique competitive advantage Business valuation to determine the number of shares to be offered and pricing Company directors and managers will benefit from advice on how Crowd Sourced Funding Equity Raising operates...

Crowd Sourced Funding Equity Raising Scorecard

Accountant's Minute 200

Based on information contained within the Crowd Sourced Funding Intermediaries’ websites we have prepared the following scorecard as at 19 June 2019: Link to Crowd Sourced Funding Equity Raising Intermediary’s Scorecard Sample of business activities of companies which have raised capital include: 100% digital bank All-female rideshare company Craft beer manufacturers Craft...

Crowd Sourced Funding Equity Raising – “House In Order” Required!

Accountant's Minute 199

Companies need to have their “House in Order” - Andrew Geddes Chair of Greencross Ltd for 11 years (former ASX top 200 company) and a consultant to the Australian Accounting Industry for the last 30 years. “To raise capital SMEs have to go through all the disciplines of getting their “house in order” before investors will even consider supporting them, and in many ways that is a...

Is Crowd Sourced Funding Equity Raising the Same as Crowdfunding?

Accountant's Minute 198

Crowd Sourced Funding Equity Raising is not the same as “Crowdfunding”. Crowd Sourced Funding Equity Raising is governed by the Australian Government’s “Corporations Act” which specifies strict legal requirements for the company to abide by. The company has to appoint an Intermediary from the businesses which have been appointed Crowd Sourced Funding Intermediaries by...
When the then Australian Prime Minister, Malcolm Turnbull announced the Coalition Government’s Innovation Policy in December 2015 he indicated that two new types of corporate entities would be established. These entities were: Early Stage Innovation Company which required amendments to be made to the Income Tax Act Crowd Sourced Funding Equity Raising which required amendments to be made...

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Latest Accountant's Minute

  • First Anniversary - An Opportunity to Add Value
  • “Cash” – A Vital Ingredient!
  • Leadership Development - A Value Adding Contribution
  • People Input Helps Clients Add Value
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