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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...

Crowd Sourced Funding Equity Raising - Who Might Be Interested?

Accountant's Minute 196

Crowd Sourced Funding Equity Raising represents the biggest improvement in business financing for small businesses and medium sized enterprises in the last 35 years! Australia is playing catch up – Crowd Sourced Funding Equity Raising is already proven in overseas countries United Kingdom United States of America Canada New Zealand have had Crowd Sourced Funding Equity...

Crowd Sourced Funding Equity Raising In the Beginning

Accountant's Minute 195

In the Beginning………. The original amendments to the Corporations Act required a Crowd Sourced Funding Equity Raising Company to be an unlisted public company. The legislation was changed from 19 October 2018 to enable “propriety limited companies” as well as “unlisted public companies” that meet the eligibility requirements to be able to raise capital direct from the public as...

Crowd Sourced Funding Equity Raising Report Card June 2019

Accountant's Minute 194

Happy New Financial Year! 36 companies have raised $31.6 million as Crowd Sourced Funding Equity Raising Companies. This augers well for a great capital raising performance during 2019/ 20.  The momentum certainly increased after 19 October 2018 when proprietary limited companies were able to raise Crowd Sourced Funding Equity Raising Capital direct from the public without having to...

SME Capital Raising: Advisors Need To Know The Details

Accountant's Minute 193

Former Greencross Limited Chairman, Andrew Geddes, believes the new capital-raising process, Crowd Sourced Funding Equity Raising, could be a real wake-up call for small and medium sized companies to expand. “Raising capital places as lot of pressure on businesses to justify that they’re worth lending to” said Mr Geddes, a highly experienced public company director. “To raise capital,...

Crowd Sourced Funding – Knowledge is the Key

Accountant's Minute 192

Prepared from an interview with Andrew Geddes, Public Company Director, Consultant to Accountants and businesses wishing to “Scale Up” included within the webinar “All Female Business Very Popular”.  Click here to view the webinar. Crowd Sourced Funding: Knowledge is the Key: The former Chairman of Greencross Limited and Accountancy Industry Consultant, Andrew Geddes, believes...

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Latest Accountant's Minute

  • Helping Clients Create a Strategy - A Value Adding Service!
  • Do Financial Accounts Add Value
  •  Supply “Value Adding” Services!
  • It Is Time To Spell It Out ..... Help Me Run a Better Business!
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