Sequel CFO supports the Federal Governments recognition the M part of SME.
Growing is about more than a sales figure.
It’s tough, it puts demands on you, your family, your team, and your bank account. It makes you find a mental bandwidth you didn’t know you had.
It’s often lonely and can test the relationships you had with people you have grown to trust. The people who got you to this stage, may not be the people to take you forward and loyalties can be tested.
You go from being a small business, a badge you wore but never really described your aspirations to a Medium Business. The M in SME.
You remain agile, nimble, efficient, driven. You create jobs, meet market niches, retain your innovation and your leadership stimulates competition.
You aren’t small anymore. You have a proven track record.
You need to introduce a little bit of corporatisation without losing your edge.
Boards, investors, executive team, senior leaders, reinvestment, expansion - the stakes are getting higher.
Reporting, governance, forecasts, risk assessment- information is power. Information, timely and accurate, means informed decisions both in strategic planning and on-the-go.
Your business is now recognized and needing different to support thanks to a range of announcements in the 2019 Federal Budget.
Follow #XeroBudgetAU tonight to see what #budget2019 means for #smallbiz:— Xero (@Xero) April 2, 2019
With @PaulMeissner_ & @MatthewProuse on tax policy; @DavidBoyar on franchises & lending; @lotusaccts on super & wealth; @angus_capel & @MsErinAdams on govt policy; @trentinnes & @amandanewtonAU on small biz pic.twitter.com/0kHziFJDI5
- Sequel CFO Founder and Managing Director, David Boyar, joining the Xero team for Budget Night 2019.
Getting Cash to Grow
Funding your growth has been a challenge and often fintech lenders are unaffordable. There are new banks though like Judo Capital and they will now get access to a $2b fund to get cheap cash they can then onlend to you. This will help close the estimated $80b funding gap in business lending.
Growing your business in a new market often needs investment in advertising to raise your brand. As part of the Export Market Development Grant, there is now an extra $60m you can access to help fund your overseas expansion.
Supporting your capital expenditure
You may want to bring forward some of your capital expenditure to take advantage of a one-off tax deduction for assets up to $30k and in recognition of the M in SME, you can access this if you turn over up to $50m. Have a play with your CAPEX budget and see the impacts on your cash flow for choosing this option though.
To have your growth strategy reviewed, click here for your free discovery session.