Recently one of our dogs got bitten by a paralysis tick.  First we had the expense of the trip to the vet for the lifesaving anti-venom and initial recovery.  We were lucky our dog survived the initial stages.  But the tick bite caused issues with her eyes.  One eye was successfully treated, but the other eye did not recover.  Another expensive trip to the vet to remove an eye.

Much like a lone tick can endanger a dog’s health, small issues within your business may seem insignificant at first glance. Yet, if left unattended, they have the potential to escalate into formidable threats, potentially causing irreparable harm, much like our dog’s situation.

The key lies in staying vigilant and addressing even the tiniest of concerns promptly. By doing so, you can shield your business from unforeseen risks and secure its long-term success.

So, don’t underestimate the significance of the little things—address them proactively to safeguard your business’s future.

PS our dog is doing as well as can be expected for dog with one eye.

And if you want help to scale and grow your business profitably, please to contact me below

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

To ensure Wayne helps your business specifically, the best approach Wayne has found is to have an obligation free Discovery Session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

To get Wayne to help your business, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

3 x  $20,000 Westpac Accelerator Scholarships are available women and non binary founders who are successful in joining UNSW Founders 10x Accelerator programs. 

This money can be used as capital for business growth or to help cover travel or lost salary costs when undertaking the 10 week program.

Learn More

Click here to Learn more about the Westpac Accelerator Scholarships

Click here to Learn more about the UNSW Founders 10x Accelerator programs

Note applications close 20 May 2024

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

Are you a high-potential tech-enabled startup founder looking for both accelerated learning and funding, then the UNSW Founders 10X accelerator program may be for you.

Not only do you get access to a 10 week intensive program from industry and startup experts tailored to equip you with the essential skills required to build successful businesses, but also you get $100,000 of seed funding in the form of a SAFE (Simple agreement for future equity).

The 10X accelerator program has 5 streams (with 6 successful applicants per stream) being:

• All Industries (10x):  tailored for high-potential tech-enabled startups from any industry.
• Health (H10x) for teams developing affordable and scalable solutions to some of the most pressing unmet medical needs, globally.
• Bio (B10x): accelerating the growth of Australian Biotech / Deeptech startups.
• Defence (D10x): for startups whose innovation addresses the defence needs of Australia and our allies.
• Climate (C10x): if your startup helps Australia and the world transition to sustainable recycling and clean energy solutions and systems

The All Industries (10x) stream is only open to startups with at least one founder who is a UNSW student, staff, or alumni.  All other streams are open to any Australian startup.

Note each stream has their own eligibility criteria and you may need a proof of concept, prototype or MVP with some market validation.

Westpac Accelerator Scholarships

3 x  $20,000 Westpac Accelerator Scholarships are available women and non binary founders who are successful in joining UNSW Founders 10x Accelerator programs.

This money can be used as capital for business growth or to help cover travel or lost salary costs when undertaking the 10 week program.

Learn More

Click here to Learn more

Note applications close 20 May 2024 and there is an online info session on 24 April 2024

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

The Enterprising Me Kickstarter Challenge aims to support women to create self-made career paths, pursue entrepreneurship as a career choice and master the skills required to run their own businesses.

The winner of the challenge will receive $30,000, and the 4 other finalists $7,500 each.

Kickstarter Challenge Categories

There are 4 business idea categories and the winner of each category will qualify as a finalist.   There is also a popular vote and the winner of this will automatically qualify as a Finalist.  The categories are

1. Health, Wellbeing and The Care Economy – What improvements can be made to address health and wellbeing challenges facing Australians?
2. Climate Change and Sustainability – What is a sustainable solution to help protect and safeguard the climate?
3. Community Impact – What innovative idea helps to empower or provide value to the community as a whole or for a specific community?
4. Fintech or Ecommerce – What software, mobile application, or other technology solution can improve or automate traditional forms of finance or commerce for businesses and consumers alike?

Eligibility

The Enterprising Me Kickstarter Challenge is to help women kickstart their new businesses, therefore your business must meet the following criteria:

• You must be a female-founded startup, majority owned and led by women, inclusive of those who identify as female
• Be registered with an ABN (sole traders can apply) and have their primary place of business within Australia
• If trading, commenced on or after 1 January 2022
• Have business revenue below $75,000 in the last 12 months of trading from date of application, inclusive of grants

Assessment Criteria

Entries will be evaluated against:

• Communication of vision
• Relevance to the Category
• Strong unique selling point
• Explanation and understanding of the target market
• Revenue or business model
• Clarity and strength of the overall submission (including presentation and branding)

Consideration will also be given to factors such as the scalability of the business idea, any competitive analysis provided, marketing and sales strategy, and the quality of the pitch video.

Learn More

Click here to learn more about the Enterprising Me Kickstarter Challenge

Note Entries close Friday 16th August, 5:00pm AEST.  But voting for the popular vote starts 29 April.

And if you want help to scale and grow your business profitably, please to contact me below

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

To ensure Wayne helps your business specifically, the best approach Wayne has found is to have an obligation free Discovery Session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

To get Wayne to help your business, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

If you are a small independent hospitality business in Sydney or Melbourne, and want some funding, then the Backing International Small Restaurants program may be what you are looking for.  This program will provide 10 grants of $21,500 to support the venue for long term business sustainability.

Are you Eligible?

To be eligible for the Backing International Small Restaurants program you:

• Any restaurant, pub, bar, café with food service in Greater Sydney or Greater Melbourne
• Be currently open for business
• Be a small/independently-owned restaurant, café, bar or pub with food offering and not part
• of a franchise with more than 5 locations
• Have an annual revenue in 2023 of less than $2m

Here are the 2023 recipients from Sydney.  Kabul Social in Sydney’s CBD and North Sydney, Viand in Woolloomooloo, Kaska Eatery in Darlinghurst, IIKO Mazesoba in Haymarket, Food Addict in Darlinghurst and Small’s Deli in Potts Point. 

Assessment Criteria

Each hospitality business will be evaluated on:

• Clear use of grant funds and its impact on the restaurant.
• Grant funds must be able to be deployed quickly in a 4 month timeframe
• Contribution to neighbourhood identity or community engagement
• Explanation of hardships that the restaurant has endured
• Owned and/or operated by underrepresented and/or economically vulnerable members of the community

What can the moneys be used for?

The grant funds must be used towards critical business needs that support the restaurant for long term business sustainability.

Potential uses could include critical improvements needed to sustain operations such as enhancing digital capabilities, building outdoor dining spaces, purchasing new equipment and making other physical improvements. Utility costs are a potential use but must not exceed 15% of the grant.

Applicants are required to provide an outline of their planned use of funds in their application.

Note: Rent, salaries, loan repayments, food supplies, and alcohol are not eligible grant fund uses.

Learn more

Click here to learn more about the Backing International Small Restaurants program

Note applications close 30 May 2024

And if you want help to scale and grow your business profitably, please to contact me below

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

To ensure Wayne helps your business specifically, the best approach Wayne has found is to have an obligation free Discovery Session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

To get Wayne to help your business, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

If you are a business with annual turnover of less than $10m, don’t forget that the small business instant asset write-off of up to $20,000 per eligible asset finishes on 30 June 2024.

And the key is that the asset must be first used or installed ready for use on or before 30 June 2024.

And if you want help to scale and grow your business profitably, please to contact me below

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

To ensure Wayne helps your business specifically, the best approach Wayne has found is to have an obligation free Discovery Session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

To get Wayne to help your business, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

The National Reconstruction Fund has released its Investment Guidance and is now welcoming investment proposals.

The National Reconstruction Fund (NRF) was set up by the Federal Government to support, diversify and transform Australian industry and the economy through targeted co-investments in 7 priority areas.

The co-investments can be in the form of debt finance, equity finance and guarantees.   There are no set minimum or maximum funding limits.

What will the National Reconstruction Fund (NRF) will invest in?

At a high level the NRF is targeted at proposals that:

• are solely or mainly Australian based,
• generate positive public policy outcomes,
• demonstrate a positive return on investment or the ability to repay debt. Note the NRF has fund return targets which will influence how your potential returns are considered.
• are in one of the 7 priority areas (see below)
• are not in prohibited areas such as coal and gas extraction or native forest logging

The 7 priority areas

1. value-add in resources which includes: manufacture innovative products used in or in connection with mining, such as exploration and drilling technology, safety solutions and transport; process, refine and use minerals here in Australia including refining materials for use in battery manufacturing and technologies; manufacture products and technologies to advance mineral processing, refinement and fabrication
2. value-add in agriculture, forestry and fisheries such as manufacturing products for use in or in connection with primary industries or processing primary industry outputs into higher value goods. Note does not include new farms or plantations.
3. Transport such as the manufacture of vehicles and parts for: aircraft; road; vehicles; rail vehicles; ships. Note doesn’t include infrastructure such as roads or railways. It does include the products and components used in infrastructure, such as road surfacing materials or rail sleepers
4. medical science manufacturing including products for therapeutic use such as: medical devices; medicines; personal protective equipment; vaccines. Note does not include veterinary products, cosmetics or health foods.  There is now a “Medical Science Co-investment Plan”  produced by the Federal Government which can help you understand what the NRF is focused on.  Click here to read this.
5. renewables and low emission technologies – manufacturing products related to: renewable energy generation, transmission, distribution, or storage; reducing greenhouse gas emissions; energy efficiency; recycling; waste reduction or resource recovery.
6. defence capability – manufacture of products that are wholly or primarily for use in or in connection with defence.
7. enabling capabilities focused on technologies and products that support the advancement of Australia’s industrial capability. Includes quantum, AI, robotics and advanced manufacturing.

Submitting a Proposal

You can now submit an online proposal.  But this is very basic which allows you to add up to 1400 words.  So pretty succinct and short.

But rest assured if this tweaks their interest you will need reams of support especially around the project including  financial, legal, technical, environmental, social and governance outcomes and risks

So don’t do this without a fairly comprehensive business case.

Click here to read the investment guidance

Click here to submit a proposal

And if you want help with your financial business case feel free to contact me below

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

To ensure Wayne helps your business specifically, the best approach Wayne has found is to have an obligation free Discovery Session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

To get Wayne to help your business, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

Here are 5 factors to consider when deciding if you should set up your business as a sole trader or company.

Risk

I use the example of sole trader paramedic who runs medical tents at school boy rugby union carnivals.  What would happen if someone was seriously injured at one of these events (which has happened at similar events) and the paramedics insurance company denied full cover?

As a sole trader, the paramedic could lose their house if the parents sued them.

If:

• the business was set up as a company, there is a layer (like a brick fence) between the paramedic and the family which could help save the paramedic’s house.
• you or your partner have assets, or you are in a high risk business, you need to seriously think about operating as a company (and the cost of having a company as insurance).
• you have no assets or the risk is very low, then operating as sole trader may be the option for you.

What your Clients Want

I have seen it from time to time, that the client wants to do business with a company rather than a sole trader.  If this is the case for your clients, then you have no choice but to set up as a company.

Also for some businesses, they may see a company as much bigger than just a sole trader.

Your future funding plans

You need to understand what your future funding plans are.

If you want to look for investors for example, rarely will they invest in a sole trader.  So you must have a company

Also, sole traders are not eligible for some grant programs.  The Research and Development Tax incentive in one such example.  So if you are thinking of accessing grant programs, you may be forced to be a company.

Your Staffing plans

A sole trader can employ staff, but you can become personally liable for a whole range of issues around such.  What if they get injured in the workplace?  What if they sue for unfair dismissal?  Having staff increases risks to you and you may want to be a company to reduce this risk

Taxation

In many cases there are tax advantages from being a company as compared to a sole trader.

Not only may you be legally able to split income but also in many cases, business can deduct more expenses than a sole trader can.

Summary

In my view there is no right or wrong answer here.  Circumstances may dictate that you need to operate as a company.  Other times it will be your choice and there is nothing wrong if you start out as a sole trader and switch to a company later (for example when you are about to employ your first staff member)

If you want more information on setting up a company ASIC has some great information.  Click here to learn more

If you want help to improve your your businesses chances thriving and surviving in these uncertain times contact me below.

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

To ensure Wayne helps your business specifically, the best approach Wayne has found is to have an obligation free Discovery Session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.

At the end of this Discovery Session, you will have multiple ideas on how your business can scale and grow profitably.

Simply fill in the contact form below or email Wayne at wayne@aRealCFO.com.au or call Wayne on 0412 227 052 to organise one of these obligation free Discovery Sessions.

To get Wayne to help your business, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

Welcome to my series on how successful businesses scale and grow profitably. This is Part 1 of 2 sessions that focus on understanding your numbers so you can make better decisions.

There are a number of other videos in this series on how successful businesses scale and grow profitably.  Click here to see the other videos

Wayne may also be able to assist you in preparing any grant application.  Contact Wayne below for a free no obligation session.

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

At the end of this session, you will have multiple ideas on how your business can on how your business can scale and grow profitably.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

Welcome to my series on how successful businesses scale and grow profitably. This is Part 2 of 2 sessions that focus on understanding your numbers so you can make better decisions.

There are a number of other videos in this series on how successful businesses scale and grow profitably.  Click here to see the other videos

Wayne may also be able to assist you in preparing any grant application.  Contact Wayne below for a free no obligation session.

Contact Wayne Wanders for your FREE Discovery Session to learn how your business can scale and grow profitably

At the end of this session, you will have multiple ideas on how your business can on how your business can scale and grow profitably.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au