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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...
Accounting Market Pulse (produced for the Commonwealth Bank) December 2015 edition identified that the main areas of expected growth for accountancy businesses over the period from 1st January 2016 to 30th June 2017 would be: Business Advisory Services Management Consulting A key component of Business Advisory Services and Management Consulting Services is supplying a Virtual Chief...
Whilst there is some debate as to the degree that individual accountancy businesses will be affected by changes in the marketplace relating to taxation returns, financial advice and superannuation fund audits, you would be a very brave accountancy business if you elected to reject these changes out of hand! At the very least why not have an each way bet! There are numerous examples all around...
There is no doubt that there are changes in the accounting market.  These changes are occurring at an ever faster pace!  How you respond to these changes will significantly affect what your accountancy business looks like in a few years' time. Potential “fee slippage” is a relatively new problem for accountants.  “Fee slippage” is caused by a number of things including:...
Accountants can assist small/medium enterprises to reduce their Debtors' Days Outstanding by producing a Debtors Systems' Manual. A written debtors' manual, together with targeted training of the small/medium enterprise's staff responsible for credit sales/debtors will assist an individual business to play its part in reducing Australian small/medium enterprise's debtors' days outstanding...
Australia is lagging the rest of the world in terms of late payments described as the “silent killer of modern business” by the Australian government’s Small Business Ombudsman, Kate Carnell late last year. (Australian Financial Review Article) An international study of 30,000 invoices from 80 countries undertaken by UK-based “Market Invoice” found that Australian businesses were...

Do You Have a Strategy for 2017?

Whilst compliance work is still important, it's no longer the only "game" for accountants/advisors! The key 2017 challenge for accountants and advisors is “responding to client requirements for accountants/advisors to provide 'additional commercial services' ". Accountants/advisors need to be adding value to clients by providing commercial services which assist the CEO/owner of a...

Resolutions for 2017

I'd like to take this opportunity of wishing you, your colleagues and your families a very Happy Christmas and I hope that 2017 will be very prosperous for you and your business. Over the last six months the team at ESS BIZTOOLS has brought you comments on a wide range of business issues that, we believe, are important for accountants to think about as you plan the services for your clients. ...
What would you learn from 8 hours with a group of company directors?  I had that privilege a couple of weeks ago in a programme sponsored by the Entrepreneurs Programme, part of AusIndustry.  The brief was to meet for 8 hours with a group of company directors and discuss with them the issues that they were confronting in their businesses and also to give them some briefing on corporate...

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

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