Survival Hints for Small Business

There are still many challenges ahead for most small businesses and medium-sized enterprises.  Many of your clients will have gained an appreciation of the extra services that you can provide to them following their first-hand experience of assistance from their accountants during COVID-19. The big question now is are your clients ready for the post COVID-19 recovery? Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=303&Itemid=639

The final COVID-19 Survival Panel webinar for SMEs is being presented on Wednesday, 28th October 2020 at 12-noon AEST (1.00pm AEDT). The keynote presenters are Ashley Evans, Managing Director, AAA+ Financial Solutions and Peter Towers, Managing Director, ESS BIZTOOLS and ESS Small Business. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=273&Itemid=639

Greetings from ESS Small Business – We hope you're starting to see some light at the end of the tunnel. Do you need an insight into research and development? The feedback that we're receiving is that many small business and medium-sized business operators have been using the work from home restrictions during COVID-19 to commence research and development activities on better ways to undertake business activities within their businesses. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=272&Itemid=639

Worst Economic Position In Living Memory The Australian economy has been badly affected by COVID-19 Coronavirus, as indeed have the economies of most countries. The Australian Parliament has passed the extension to JobKeeper legislation at a smaller amount from 1st October 2020 to 3rd January 2021. For eligible team members working more than 20 hours per week the JobKeeper payment in the October to December period will be $1,200 per fortnight. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=271&Itemid=639

Concerns About Business Funding From 1st October 2020 Onwards Whilst the Australian government has announced that the Coronavirus SME Guarantee Loan will be redrawn and applications enabled until 30th June 2021, a $1 million maximum loan for a period of 5 years, with the money being able to be used for any business purpose, there is still an expectation that many businesses will have difficulties in negotiating with banks for new funding facilities from 1st October 2020. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=270&Itemid=639

Greetings from ESS Small Business – Tradies' Charge Out Rates Review And Corporate Governance. In our next ESS Small Business COVID-19 Survival Panel webinar for small businesses and medium-sized enterprises, Kevin Thiele an experienced Management Accountant will discuss the concepts of establishing charge out rates for tradies so as to ensure that the... Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=269&Itemid=639

The Prime Minister and Treasurer have announced significant changes to the JobKeeper program: From 28th September 2020, businesses will be required to reassess their eligibility for JobKeeper with reference to their actual GST turnover in the September quarter 2020, as compared to the September quarter in 2019, to be eligible for the JobKeeper payment from 28th September 2020 to 3rd January 2021. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=268&Itemid=639

The latest developments in Victoria, where Level 4 restrictions have now been imposed in Melbourne and Level 3 in Regional Victoria, have really highlighted the challenges that can confront businesses all over Australia if COVID–19 coronavirus is allowed to become established in a particular location. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=282&Itemid=639 

Want to learn more about ESS Small Business? (Click here) Greetings from ESS Small Business – Tax Ruling on JobKeeper and Research & Development. The Australian Taxation Office has issued a draft taxation determination relating to “Notional Deductions for Research and Development Activities Subsidised by JobKeeper Payments”. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=267&Itemid=639

The Australian government made a number of very important announcements this week, including the JobKeeper extension which, from 28th September 2020, will comprise 2 tiers with a reduction in the fortnightly payments payable to people who qualified at 1st March 2020. Tier 1 applies to people who were working more than 20 hours per week at 1st March 2020. Tier 2 applies to people who were working less than 20 hours per week at 1st March 2020. In both cases, the people must still be employed by the business/charity. Tier 1 payments from 28th September 2020 to 3rd January 2021 will be $1,200 per fortnight and from 3rd January 2021 to 28th March 2021 will be $1,000 per fortnight. Tier 2 payments from 28th September 2020 to 3rd January 2021 will be $750 per fortnight and from 3rd January 2021 will be $650 per fortnight.   Read The Full Article Here

Greetings from ESS Small Business – using a coordinated social media campaign and having an awareness of the equity fund raising available for small businesses are the key items for today. The situation in Victoria has created a significant wake-up alert to businesses all over Australia as well as governments and the general public. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=264&Itemid=639

Greetings from ESS Small Business – "Strategies Include Systems and Adequate Funding for Your Business". A lot has happened in the last few months. On 18th June 2020 the “Financial Review” published an article “Accountants Become the “Centrelink” of Business World” – “The accountant of the future will need to be a compliance expert who can grapple with fast changing rules while providing broader advice to clients about their business”.     Read The Full Article Here

Greetings from ESS Small Business – Are You Planning Your Strategies for the New Financial Year? There is still a lot of debate about what the government is likely to do relative to a number of programs, including JobKeeper, as we approach the original deadline date of 30th September 2020.  The government has already announced changes to JobKeeper as it applies to the Childcare Industry and there is speculation that JobKeeper will continue for some industries that are suffering additional pain because of COVID-19 coronavirus. read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=262&Itemid=639

Greetings from ESS Small Business. Due to administrative problems in setting up the grant processing mechanism with State government departments, there have been some delays in the rollout of the Home/Renovation Grants for homebuilders and for renovations to houses. The $25,000 grants made available by the Australian government to individuals who are constructing a new house or renovating an existing house, are expected to significantly enhance the building industry and some trade business classifications all over Australia.   Read The Full Article Here

Want to learn more about ESS Small Business? (Click here) Greetings from ESS Small Business. Thousands of business owners and team members have been working from home for the last 2-3 months and may have given some thought to the development of new products, processes or services by undertaking some initial research and development. They might now be wondering whether they should continue to work on this business idea to see whether a commercial product or service could be developed and whether they could obtain a taxation deduction for the expenditure that they have incurred. If you're one of these people – congratulations because Australia needs to develop new products and services.     Read The Full Article Here

Want to learn more about ESS Small Business? (Click here) This week we looked at: Utilisation of three-way forecasts (“predictive accounting”) to understand where your business is heading. Emerging from the 'lockdown blues'.   Paul Barnaby, Predictive Accountancy Consultant and Australasian representative of PlanGuru, made the following comments relative to the preparation of financial forecasts:   Read The Full Article Here

Greetings from ESS BIZTOOLS and our affiliates.  Welcome to this weekly update on issues confronting accountants, business advisors and bookkeepers from the COVID 19 coronavirus. This week we looked at: Financing your Business Engaging your Accountant to add Value to your Business Read The Full Article Here

Greetings, we hope that you're well and looking after yourself as well as your clients and that you're communicating with your clients in relation to their reopening strategies. The National Cabinet has started the first tentative steps towards reopening the Australian economy with the release of the three step plan process that is to be implemented, primarily by state and territory governments, according to their own timetables. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=267&Itemid=639

Greetings from ESS BIZTOOLS and our Affiliates, welcome to this weekly update on issues confronting small businesses and medium-sized enterprises from the COVID-19 coronavirus. Preparing for the end of the lockdown. Read More: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=256&Itemid=639

Greetings from ESS BIZTOOLS and our Affiliates, welcome to this weekly update on issues confronting small businesses and medium-sized enterprises from the COVID-19 coronavirus. Read more: https://www.esssmallbusiness.com.au/index.php?option=com_zoo&task=item&item_id=255&Itemid=639