In the December 2015 edition of “Commonwealth Bank Accounting Market Pulse” it was stated:
“Top service lines to enter and grow in the next 12 to 18 months would be
- Large firms – management consulting services
- Mid sized firms – business advisory services, management consulting services
- Restructuring firms – business advisory services
- Other firms – business advisory services.”
This is really highlighting that 2016/2017 should be the year of business advisory services for accounting firms throughout Australia but especially small to medium size firms.
To take advantage of this opportunity, accounting firms will be able to deliver a range of services that small/medium enterprise operators have been indicating in survey after survey for the last fifteen years that they require assistance from someone, preferably accountants. These key services include:
- Management of costs
- Management monitoring
- Business Plans
- Assistance in raising capital or loan funds
- Expansion advice
Assistance with:
- undertaking their business activities;
- cash flow management
- wealth creation
- succession planning
- retirement planning
- Government grant applications
Products that accountants can utilise to assist SMEs that have been developed by ESS BIZTOOLS include:
- Debtors’ Management
- Succession Planning
- Chief Financial Officer Services
- Strategic Business
- Business Evaluation
- Business Planning
- Identifying grants and incentives for SMEs
- Personal Property Securities Register Due Diligence
- Buying a Business
- Selling a Business
- Business Health Checks for a number of different industries
The new product package to be released on the 20th June 2016 – Early Stage Innovation Companies to assist accountants to mentor clients contemplating forming a new Early Stage Innovation Company to take advantage of the new law which will assist companies in their equity raising activities and also will undoubtedly prove popular to investors who will be able to obtain a 20% tax rebate on their initial investment in a ESIC up to an investment of $1M and also obtain a potential Capital Gains Tax holiday if they hold the shares longer than one year and less than ten years.
For details on the Early Stage Innovation Company package, please visit our website: www.essbiztools.com.au after the 20th June 2016.
Peter Towers
Managing Director
ESS BIZTOOLS
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