Crowdfunding has taken the world by storm, will Australian regulation catch up? The use of crowd sourced funding for the purpose of raising funds for business development has become increasingly popular in a number of foreign jurisdictions. A number of commentators are of the view that “crowdfunding is one of the biggest financial changes in
Don’t think you are innovating? Think again – quickly! End of April deadline is looming. Have you ever heard that saying “you don’t know what you don’t know?” In the case of Research and Development tax incentives, it is often the instance that businesses are unaware of its existence. The words ‘Research’ and ‘Development’ can
Many business owners fail to set a budget and don’t consider this to be important. They either think they are not big enough to require a budget or they have their budget in their head. A budget is the success plan for a business, it helps you plan and to reach goals within your business.
I was recently asked at a family gathering if GST (the Goods and Services Tax) applied to crowdfunding. Not your everyday question I must admit, but given my area of expertise and my interest in technology start-ups, you could see why I was asked. I was about to dismiss it out of hand when I
Across years of providing advice to small and medium businesses, most recently as a partner of BridgePoint Group, I have been privileged to provide advice to dozens of start-ups. I love the enthusiasm and ingenuity of the men and women that are prepared to ‘risk it all’ and ‘have a go’. And I love the fact
On 14 January 2015, Treasury released exposure draft legislation that is aimed at reforming the taxation of Employee Share Schemes (“ESS”). While the stated aim of the draft legislation is to create special concessions for start-ups to encourage them to reward key employees with equity in the business, there are incentives for all employees to
There are a plethora of issues which will confront a new business owner ranging from ascertaining the most suitable business structure for the business to operate under to ensuring that its business activities are compliant with all laws, rules and regulations. In starting a business one of the first issues to consider is
Across years of providing advice to small and medium businesses, most recently as a partner of BridgePoint Group, I have been privileged to provide advice to dozens of start-ups. I love the enthusiasm and ingenuity of the men and women that are prepared to ‘risk it all’ and ‘have a go’. And I love the
Most start-ups fail because of poor financial planning and management. “If you fail to plan you should plan to fail.”
Every entrepreneurial venture varies, as do the strategies that make them successful but there is a common trait that exists – limited capital. The scarcity of capital is what makes great entrepreneurs creative enough to think outside the box.
The story of one of our ‘serial entrepreneurs’ and your go-to advisor:
For my very first venture, a Pool Parlour in India, I needed almost $100k in investment but could only get $50k from my parents. My father wanted me to raise the remaining funds from my friends or borrow from the bank. His reason was to help me understand how to develop a business plan, and the importance of obtaining capital early on. Of course, I was also to learn to shoulder responsibility.