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Innovation is Important for SMEs

Issue 0062

Today I want to talk to you about innovation. Innovation is important in Australia. The Australian government has recognised this by introducing an Innovation Statement and a range of legislation to support innovation. The first new law to be introduced related to Early Stage Innovation Companies. That will apply to: entrepreneurs inventers companies; and business people who are...

6 Steps to Boost Your Productivity and Profits

Issue 0061

Hello, I'm Peter Towers for ESS Small Business. We have a special webinar coming up on the 19th October 2016 for small/medium enterprise operators who are looking for a boost to their businesses. This webinar is particularly aimed at people aged over 50 who are operating businesses. But don't worry, those of you who are younger it also equally applies for you; because one day, you'll also be...

Tax Incentives For Early Stage Investors

Issue 0059

The Early Stage Innovation Company legislation which commenced operation on the 1st July 2016 gives small/medium enterprise operators, inventors and young companies that have been involved in research and development, have been a participant in Accelerating Commercialisation Grant Program, have already received capital investment from arms-length investors of $50,000 or more; or if you've...

ESIC Targets SMEs, Inventors, Young Companies

Issue 0058

The Early Stage Innovation Company legislation which commenced operation on the 1st July 2016 gives small/medium enterprise operators, inventors and young companies that have been involved in research and development, have been a participant in Accelerating Commercialisation Grant Program, have already received capital investment from arms-length investors of $50,000 or more; or if you've...

Early Stage Innovation Company Investor Opportunities

Issue 0057

Hello, I'm Peter Towers, Managing Director of ESS Small Business. Welcome to Survival Hints for Small Business. There are tremendous opportunities for investors under the Early Stage Innovation Company legislation. What is an Early Stage Innovation Company? This is a new corporate structure that the Australian government legislated for in May 2016 and commenced operations from 1st July 2016....

Will You Have an ESIC Story?

Issue 0056

Will you have an ESIC story? Do you know what ESIC is? Well, please join me for the next couple of minutes and I'll give you an overview of an ESIC story. Have you developed a new product, process, service or developed an organisational or marketing methodology? Have you been undertaking research and development? Have you already participated in the Accelerating Commercialisation Grant...

Are you Receiving a CFO Service from your Accountants?

Issue 0055

Do you know that there are accountants/advisors around Australia who are committed to supplying a Virtual Chief Financial Officer (CFO) service to their small/medium enterprise clients? ESS Small Business and ESS BIZTOOLS have developed material for those accounting/advisory businesses to utilise, to give you a more effective service and to give you the products that you’ve asked for as an...

Succession Planning

Issue 0054

How diligent are you about your succession planning? Do you know that, in various surveys that have been conducted by MYOB, CCH, Smithink and other companies over the last 15 years, succession planning has been identified as a very important process from a small/medium enterprise operator's point of view? Are you getting the assistance you require for your succession or exit planning as it...

Business Plans

Issue 0053

Have you got a business plan? Do you know what purpose it will serve your business? Have you talked to your accountant/advisor about helping you to prepare a business plan? This is the facilitation role that accountants/advisors could perform. The main group of people involved in a business planning process are you and your team and your accountant/advisor is there to facilitate, ask the...

The Year for Business Advisory Services!

Issue 0052

I'm Peter Towers, Managing Director of ESS Small Business. Welcome to Survival Hints for Small Business. According to the “Accounting Market Pulse”, a publication produced by the Commonwealth Bank targeted at accountants, this is the year of “business advisory services”. What are you going to do to be able to make sure that you receive more commercial services from your...

Are you Aware of the PPSR?

Issue 0051

As a small business operator, are you aware of the Personal Property Securities Register (PPSR)? Has your accountant/advisor talked to you on how you can minimise the risks under this register? Do you know that, in Australia, over $120M has been lost by small and large businesses in court cases involving the Personal Property Securities Act (PPSA)? Virtually in every one of those cases, the...
Do you know that, in survey after survey over the last 15 years, you and your peers have identified that small/medium enterprises want to receive additional commercial services? One of the services that would benefit most small/medium enterprises is assistance with debtors’ management. Accountants/advisors who are offering business advisory services, other than taxation, can assist you to...

Happy New Financial Year

Issue 0049

Welcome to 2016/17! A new financial year – what are you going to try to achieve this year? Are you happy with your financial performance?  Are you happy with the support that you’re receiving from your accounting/advisory firm?  Are you getting feedback? I’m going to ask you six questions to undertake a review of your preparation to be an outstanding business during...
The Australian government has finalised the legislation for the Early Stage Innovation Companies (ESICs) prior to the Parliament being adjourned for the Federal election. Unfortunately, the legislation for Crowd Funding Equity Raising entities was still being debated in the Senate when the Senate adjourned. Hopefully, this legislation will be finalised after the election when the Senate...

A Business Evaluation Review Can Assist You

Issue 0047

Do you know that accountants/advisers have been identified by small/medium enterprises as being your “trusted adviser”? This is a recognition of accountants/advisers supplying a wider range of professional services other than taxation. Taxation doesn’t help you add value to your business, however some of the other non-compliance areas that accountants/advisers have been trained to offer...

June is a Great Time to Prepare a Business Plan

Issue 0046

usiness plans are very important for all types of businesses, large and small. Business plans for businesses are just like maps for tourists. It helps you determine where you’re going to go and to be able to measure along the way whether you’re on target. Some of the key things contained in developing a business planning strategy is to determine where you want to be in one year, two...

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