Empowering SMEs (Issue 073)
Greetings from ESS Small Business – We hope that you can see some light at the end of the tunnel.
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.
For eligible team members working less than 20 hours per week the JobKeeper payment in the October to December period will be $750 per fortnight.
Over the last 6 months many small business operators have been utilising the work from home requirements to think about their businesses and to start the process on developing some new products, processes or services. This is basic research and development, which could lead to bigger and better things.
In the ESS Small Business COVID-19 Survival Panel webinars for SMEs held on 2nd September 2020, Terry Hurlock, Founder of Invention Pathways Pty Ltd, gave an interesting insight into the development of the intellectual property journey that many business operators undertake each year.
If you have been undertaking research and development activities, or you are thinking about it, then Terry’s comments could be very applicable to your business.
“There is no doubt that the recent lock-up for most of the world will bring to the fore in some people’s mind the thoughts of solving immediate problems they face…. Even in our office we have seen innovative thinking by clients who have provided some innovative and inventive thinking on sanitising rooms and shopping trolleys during the focus on sanitation".
“It is a fact that during periods of economic downturn we see a bigger number of inventions arrive at our inbox and what is happening now is a phenomenon that we have seen before….. We think that a period of lack of usual activity drives individuals to see if there is any value in that idea they thought of some time ago”.
“The basis of invention is the solving of problems than inventors are faced with in their daily work or lifestyle. This particular COVID-19 has brought thinking along the lines of solving problems that we did not have prior to this epidemic".
The difficult economic circumstances currently prevailing in Australia and indeed the whole world, have really brought Crowd Sourced Funding Equity Raising to the fore in discussions relating to how are businesses going to access funding once the special support programs from the Australian government and the embargo on action against company directors, has terminated.
Peter Towers was the other speaker in yesterday’s webinar presentation and discussed the opportunities that small businesses and medium-sized enterprises now have to be able to raise up to $5 million in a 12 month period from the public as a Crowd Sourced Funding Equity Raising company which is available to virtually any private company in Australia.
Since Crowd Sourced Funding Equity Raising commenced in Australia about 2 years ago, the number of companies utilising this funding tool to raise capital has slowly increased each month. There is an expectation in the marketplace that there will be a significant increase in the number of companies wishing to utilise Crowd Sourced Funding Equity Raising from 1st October onwards.
ESS BIZTOOLS has supplied full product packages to accountants situated all round Australia so that companies, located anywhere in Australia, are able to obtain professional advice and assistance so that directors and leadership team members can gain a full understanding of the legal processes that apply to Crowd Sourced Funding Equity Raising.
You can listen to the presentations made by Terry Hurlock and Peter Towers by clicking here.
You can access a copy of the PowerPoint slides used by Terry Hurlock and Peter Towers by clicking here.
On Wednesday 16th September at 12-noon AEST we have an outstanding webinar presentation for small businesses and medium-sized enterprises, featuring Matt Vitale, Joint Founder and Joint Managing Director of Birchal (a Crowd Sourced Funding Intermediary from Melbourne) will be commenting on “Crowd Sourced Funding Issues And How This Funding Concept Can Assist Businesses Trade Out Of COVID-19”.
The other guest speaker at the webinar on 16th September 2020 will be Andrew Geddes, Director, Andrew Geddes Pty Ltd, a Former Chair of Greencross Ltd (a Top 200 ASX company and a company that started as a start up with one veterinary surgery in Townsville about 35 years ago). Andrew will be making some practical suggestions on how businesses can organise themselves to assist the business to commence a “scaling up process” which should be the aim of every business to ensure survival.
You can register for this free webinar on Wednesday, 16th September 2020 by clicking here.
We would like to invite you to visit the ESS Small Business website > Survival in Difficult Times > Learn More where you will find details of the products ESS Small Business has developed to assist small businesses and medium-sized enterprises to gain a better understanding of strategies which will assist you to survive in your business during 2020/21.
If you are interested in gaining an in-depth understanding of the concept of raising capital direct from the public, as a Crowd Sourced Funding Equity Raising Company or an Early Stage Innovation Company, you are invited to contact us for a short overview discussion – please contact me:
If you have a friend or colleague who you think might find this article interesting, we invite you to pass the article on to them.
Stay safe! Have a great day!
COMPLIMENTARY MATERIAL Click on the button below to access the following FREE material:
Episode 73 - Developing Intellectual Property, Funding It, Perhaps by Raising Capital Direct from the Public
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