A couple of weeks ago Prime Minister Scott Morrison said: “Whatever you thought 2020 was going to be about, think again!”. Mr Morrison’s prediction that 2020 was going to be different to what most people including business operators had in mind for 2020 has certainly been proven with all of the changes that are taking place. The Australian state and territory governments have announced...

  A Chamber of Commerce Member, Towers Business Development Pty Ltd, has completed a very interesting assignment relative to the preparation of a Business Plan, Budgets, Cashflow Forecasts, Projected Balance Sheets and Mentoring on the operations of Section 708 of the Corporations Act Capital Raising and Crowd Sourced Funding Equity Raising for a new North Queensland company known as...

Check the list of government loans/grants that the business might be eligible to apply for. Create a COVID-19 coronavirus/natural disaster team which will meet daily (10 – 15 minutes) to review issues and to recommend new or amended strategies. If not already done so, implement strategies to enable team members to productively work from their homes. Issues to consider: computer...

Differentiated Strategy - Helps Create Value! Creating a truly differentiated strategy is considered to be one of the four key factors in creating a successful life-cycle for a business. (Verne Harnish – Scaling up) The key factors in the development of a business strategy are: Does what you are planning to do really matter to enough customers? Does the strategy that you are developing...

SINGLE TOUCH PAYROLL NOW APPLIES TO ALL EMPLOYERS! Single Touch Payroll is being enforced for every business that has payroll for employees.  It has been operating for nearly 2 years, with the 2019 financial year being the year it was compulsory for large employers and 2020 financial year being the year it was compulsory for everybody.  This system is basically connecting the...

The Australian government’s amendments to the Corporations Act have created a new financing opportunity for small businesses and medium-sized enterprises, many of whom can now utilise Crowd Sourced Funding Equity Raising to raise capital for their companies.  Organising appropriate finance for their businesses is an ongoing concern to directors and managers of small and medium-sized...

44 COMPANIES HAVE RAISED $37.2 MILLION! Nine of the Crowd Sourced Funding Intermediaries appointed by the Australian Security Investment Commission (ASIC) have guided companies through the capital raising process thus enabling 44 companies to have raised a total of $37.2 million from 31,138 individual investors from Crowd Sourced Funding Equity Raising as at 31 July 2019. The recent capital...

Welcome to a New Financial Year – We trust that 2019/2020 will be very successful for your business! NAVIGATING 2019/20 If you have not already done so, could we suggest that you find some “quality time” over the next few days and prepare some notes on the key issues that you will need to navigate your business through in 2019/2020. Some suggestions which we have for matters which you...

RESEARCH AND DEVELOPMENT – OVERSEAS WORK If you wish to claim overseas expenditure relative to a Research and Development Tax Incentive Claim you must submit an application for an “Advance/Overseas Finding” before the end of the income year in which the activity was conducted.  There is no provision under the legislation for accepting late Applications relative to overseas...

RESEARCH AND DEVELOPMENT – OVERSEAS WORK If you wish to claim overseas expenditure relative to a Research and Development Tax Incentive Claim you must submit an application for an “Advance/Overseas Finding” before the end of the income year in which the activity was conducted.  There is no provision under the legislation for accepting late Applications relative to overseas...

KNOWING YOUR BUSINESS' BREAK EVEN SALES HELPS Do you know what the break-even amount of sales for the various operations/activities being conducted in your business? “Break-Even Sales”: are the level of sales necessary to cover all fixed and variable expenses.  This shows you the level of sales that your business needs to make to generate neither a profit nor a loss.  The...

ALL WOMEN RIDESHARE SERVICE RAISES $3 MILLION! With $3 million raised from 2,125 investors, (average $1,411 per investor) Shebah, Australia’s first all women rideshare service, have closed their first ever capital raise through Crowd Sourced Funding Equity Raising. Shebah’s highlights: 8% growth per month since 2017 113,000 app downloads Since inception, Shebah has proudly kept women...

2019/20 FEDERAL BUDGET HIGHLIGHTS SPECIFICALLY RELATING TO SMALL/MEDIUM ENTERPRISES Please note, most of the items discussed in this newsletter have not yet been legislated by Federal Parliament.  The government must submit its budget to the House of Representatives and the Senate for debate and passing of the legislation before most of the items become law. BUDGET OVERVIEW The Federal...

 Single Touch Payroll Now Applies To All Businesses The legislation extending Single Touch Payroll to all businesses with less than 20 employees was passed by the Australian Parliament last week. The Australian Taxation Office has indicated that each of the 16 companies which have indicated they are developing suitable products have stated that their products will be priced at less than...

Best wishes to you, your family and colleagues for a very successful 2019! Crowd Sourced Funding Equity Raising Has Commenced! The Crowd Sourced Funding Equity Raising Scorecard indicates that $18.3 million has already been raised by 22 Australian companies.  The following is a summary identifying the companies with a brief description on their business activities and the amount of...

Merry Christmas and Best Wishes for 2019! The Australian Business Growth Fund Announced Being a small business means it is hard to get money from a bank, unless you take it on a secured basis, and usually against real estate and more commonly your own home.  This means that people are not able to get into running a small business without some sort of solid financial backing and the...