Issue 0037 2016 – The Year of Opportunities
Global Business Camp – on in 1 Month’s Time
Opportunities are all around us. Some people see them, others don’t. Life is all about taking advantage of our opportunities when they’re presented.
Once a year, there’s an opportunity to go away on a 100%, fully tax deductible trip for 3 days of workshop activities with like-minded business operators, with mentoring from experienced accountants, business people and other advisors from all over Australia.
You’ve all heard of the concept “working ON your business”.
A Global Business Camp is a great opportunity to “work ON your business”, with a group of like-minded people.
One of the real benefits of a Global Business Camp is that you can communicate with other people who have already experienced the same or similar problems and issues you’re finding in your business. You will be able to have discussions, get some ideas and develop strategies.
The Global Business Camp, to be held at the Gold Coast on 14th – 16th March 2016.
The “camp” offers the opportunity to really work ON your business for 3 days.
A special VIP rate of $2,200 (including GST) per person, normally $2,970 (including GST) per person, has been negotiated for business operators and accountants.
If you require further information on Global Business Camp and to take advantage of the special VIP rate, click here.
ESS Small Business has presented a webinar with John Tsoulos, Managing Director of Global Business Camps, featuring Global Business Camp. Click here to view the recording.
The Government’s Innovation Package might assist you in your business
The Prime Minister, Malcolm Turnbull, has announced that the Australian government will spend $1.1B over the next 4 years, to promote business-based research, development and innovation. Mr Turnbull called the initiative an “ideas boom”. He indicated that the key focus revolves around strengthening ties between the business community, universities and scientific institutions.
The government has decried the “fear of failure” and has declared that the government is keen to encourage a “culture of risk taking”.
These are words rarely ever spoken by an Australian Prime Minister. It’s very heartening to see that the government is, at last, going to embrace innovation.
How will this affect you in your business?
To help you understand this, the following is a brief overview of the key issues for small/medium enterprises, start-up businesses, entrepreneurs and inventors included in the innovation package.
Raising Capital – tax incentives for investors
The government has indicated that, last year, over 4,500 start-ups were unable to raise equity capital. The government is hopeful that the initiative they’re introducing will encourage investors to be more proactive to investing in start-up businesses.
The government will approve a new type of company whereby the investors will be eligible to claim a 20% non-refundable tax offset on investment capped at $200,000 per investment per year, together with a 10-year Capital Gains Tax exemption for investment held for 3 years. This incentive will be available for investment in companies that:
- undertake an eligible business (scope to be determined).
- were incorporated during the last 3 years.
- are not registered on any Stock Exchange.
- have expenditure of less than $1M and income of less than $200,000 in the previous income year.
Crowd funding is a popular way of raising investment capital in other countries and the government is finally going to take the required steps to enable this exciting type of capital raising to be undertaken by Australian businesses.
The government is proposing that companies must meet the following criteria to be eligible for crowd funding:
- must be a public company
- must have assets of less than $5M
- turnover of less than $5M
- the company will be allowed to raise up to $5M per annum from investors
- investors will be able to invest up to $10,000 per company per annum
The government is hopeful that the legislative amendments for both types of companies will be finalised so that companies can commence raising capital from July 2016.
Predominantly Similar Business Test
The Innovation Statement also indicates that the government is going to change the law relative to company losses by the introduction of a new test “predominantly similar business test”. This test will enable companies to access their losses where the business “while not the same” use similar assets and generates income from similar sources. This means that, if a company has lost money in one business venture, it would be able to utilise those losses against income earned in a new venture, as long as it’s predominantly similar.
The government will be announcing the new rules shortly.
If you’re interested in raising capital for your business, you will need to be “investment ready” so that you’re able to supply the necessary information to potential investors.
Over the next few months, we will be preparing articles on steps to be taken as part of the “investment ready” process.
How does Business Development Manager Services add value?
Have you ever wondered what a Business Development Manager (BDM) does?
BDMs are continually looking for new businesses to keep feeding the customer pipeline into a business. BDMs identify organisations in the marketplace and then seek to make contact with them for the benefit of their employer's business or their client. This is a very important role for businesses to think about, having someone who is concentrating on developing new customers.
- identify business opportunities
- facilitate deals
- supply marketplace feedback
- attend networking events
- are involved in social networks and community events
- prepare editorials for magazines
- provide information for Facebook business pages
The prime role of a BDM is to approach individual organisations and governments to encourage them to do business with their employer's business.
There is some crossover into marketing. Larger organisations work with their marketing manager and the CEO, to understand where new businesses might be able to be found. They then go out and try to find new prospects so that the organisation has new prospects, new clients and new business coming in to an organisation.
It’s very important that businesses have the right sales culture. This relates to a realistic, timely and achievable sales strategy and that the business has the right kind of people on your sales team. A BDM is very important in this process.
Moira Verheijen, BDM of Corporate Connectors and Gallop Solutions, presented a webinar, featuring “How does a BDM add value to a Business”. Click here to view the presentation.
Gallop Solutions is making a special offer to business operators.
You can apply for 2 complimentary tickets to a Gallop Solutions Discovery Seminar, available to the first 10 callers, normally $438.90 (including GST). Contact Gallop Solutions on 0488 335 300.
Business Networks are good for Businesses
There’s a variety of networking models available for businesses.
Firstly, business networking is incredibly powerful.
A network is a group of businesses that join forces to maximise their presence in the marketplace. Networking helps generate a spirit of corporation to “tame the business jungle”.
Operating a business can be a very lonely affair. It can also be dangerous – sometimes you wonder who you could talk to. If you’re a member of a network, you should normally be able to communicate with other members of the network.
Networking increases competitiveness because you become aware of other deals and possibilities. Networking also helps you solve problems and that your unique problem is probably also a problem that someone else within the network already had, therefore they could give you some guidance.
Networking helps you gain access to new markets and create opportunity.
Corporate Connectors is Australia’s first managed business networking service. Corporate Connectors was formed to make networking really work for a business. It relies on a number of businesses, which are a collective of like-minded businesses across very diversified range of industries and who have an appetite for working collectively.
Corporate Connectors operates through a centralised management team. Members are happy to cross-promote, utilising their databases, to promote other members of the network’s products and services. Their products and services are also being promoted by the other members of the network.
Rick Nash, Chair of Corporate Connectors, presented a webinar with ESS Small Business, featuring “Business Networks are Good for Businesses”. Click here to view the recording.
If you have any interested in finding out more about Corporate Connectors, please visit www.corporateconnectors.com.au, leave a message and a business development manager will contact you.
Small Business Webinars
We’re regularly conducting webinars, focusing on various small business matters, together with providing tips and resources to assist you with building value to your business. We’ve also recorded past webinars, to allow you to watch the presentations whenever you wish.
Click here to view our upcoming webinars, to register to attend and also to watch our past webinars.
If you wish to receive future editions in the Survival Hints for Small Business series, you can visit our iTunes – Podcasts - Survival Hints for Small Business page and subscribe to our podcasts. If you have any questions or suggestions on future items to be covered in Survival Hints for Small Business, please don’t hesitate to contact us.
News, ideas and tips helping small business with strategies to survive and thrive in today's economy.
Episode 0037 2016 – The Year of Opportunities
COMPLIMENTARY MATERIAL Click on the button below to access the following FREE material:
- Copy of this transcript
- Complimentary copy of articles
To download the free material click the link below:-
Watch out for the next episode of "Survival Hints for Small Business" or subscribe to the podcast on iTunes for more news, ideas and tips helping small business survive in today's economy.