SMEs love grants. Why? It gives them access to services at 50% of the normal cost.
Over $3 billion per annum is made available by the Australian, State and Territory governments for small/medium enterprises and businesses with turnovers up to $50 million through a range of grants.
Accountants and business advisers also win from grants. Why? Small/medium enterprises love accountants being proactive and advising them of grants for which they could probably apply.
The other real benefit for accountants and business advisers is that many of the grants can be spent with accountants for a range of business advisory services. Services such as:
- Preparation of Business Plans.
- Preparation of Strategic Plans.
- Preparation of Budgets & Cashflow Forecasts.
- Business modelling to improve business performance.
- Human Resources Reviews – making sure the business is complying with the Fair Work Australia legislation.
- Management Mentoring – making sure the management team can read the financial reports, understand the key performance indicators and understand the break-even figure for their particular operations.
- Corporate Governance Mentoring.
- Lean Management.
The popular Federal government grants include:
- Export Market Development Grant – a grant of up to $150,000 for any type of business with a turnover up to $50 million which is exporting, or proposing to export.
- Accelerating Commercialisation – a grant that is available for any type of business person initially, with turnovers from $0 through to $20 million. The grant is $1 million on a 50% basis. If an individual or a partnership elects to apply for that grant and they are invited to the final discussions, they will then need to incorporate a company.
- Apprenticeship Grants – there are six different types of Apprenticeship Grants available in Australia.
- Research & Development for companies with turnovers up to $20 million per annum – a tax rebate of 43.5% – and more important, for young companies which are just starting out, if they are trading at a loss, they can receive the cash component of the Research & Development Rebate within 30-days of lodging the company’s income tax return, as long as all the necessary paperwork has been submitted to AusIndustry. This should be part of your role with your clients. To make sure they’re doing that.
- Business Growth Grant – a grant of up to $20,000 on a 50% basis for a wide range of companies with turnovers over $1.5 million operating for at least 3 years. Companies need to show that they can utilise that money to improve business’ performance. Some of that money can be spent with accountants. (In northern Australia the minimum turnover is $750,000).
ESS BIZGRANTS has been developed to assist accountants and business advisers to be proactive in this space. The system will help you to identify the grants that suit individual clients. The system will produce a grant report. You will also have forms which will assist you to prepare the grant application. You will then be able to contract to provide services to your clients.
We are presenting a webinar on “Value Adding Accountants’ Services” with an emphasis on government grants on Monday 23rd April 2018 at 12.30pm AEST. (Click here) to register for this webinar.
I would like to extend an invitation to you to participate in this webinar.
You can trial one or two of your businesses to see how the system works for you and how it can add value to your relationship with your clients because you’ll be showing them you’re very proactive.
At the same time, you could logon to ESS BIZTOOLS to have a look at the wide range of services that are available, one of which is ESS BIZGRANTS, a subscription to which is included in the Gold Package.
We have a special 20% discount available on all of our products. This discount runs through to the 18th May 2018. Please enter FA20 when subscribing to a package to receive the 20% discount.
Special FREE webinars are to be held on:
- Monday 23rd April 2018 – “Value Adding Accountants’ Services” at 12.30pm AEST – (Click here) to register
- Monday 30th April 2018 – “Value Adding Accountants’ Services” at 12.30pm AEST – (Click here) to register
- Tuesday 8th May 2018 – “Grants Help Generate Business Advisory Services” at 12.30pm AEST – (Click here) to register
David Smith, Managing Director of Smithink, Past President – Institute of Chartered Accountants – Australia, Founder – ATSA (Australian Technology Showcase for Accountants), made the following comment:
“This is a tool that should reside in every accountant’s office. Few accountants are aware of the grants available to their clients. It’s a minefield of federal, state, local, special purpose grants that seem to change almost daily. ESS BIZGrants has done the hard work in bringing together all this information in an easy to use application. If an accountant wants to make a client happy – get them some government money! ESS BIZGrants is the tool that can quickly help accountants quickly assess whether a client might be able to access a grant”.
If you have any questions of any of the ESS BIZGRANTS and ESS BIZTOOLS’ products designed to assist you to deliver a range of outstanding services to your clients, please do not hesitate to contact us.
You can send me an email – firstname.lastname@example.org or phone 1800 232 088.
MANAGING DIRECTOR – ESS BIZTOOLS PTY LTD
+61 7 4724 1118 | 1800 232 088