A Real CFO

How A Real CFO can help your business scale and grow profitably When business want to scale and grow, only a small percentage are successful. Most fail and fall into the valley of death. Some give up trying and go back to where they were. And others end up growing broke.   And from what I have seen in over 30 years of working with businesses, 3 of the most common causes stopping your business from scaling and growing profitably are: ·        Running in the wrong direction ·        Focusing on the wrong numbers ·        Inadequate cash flow management   A Real CFO can help your business scale and grow profitably by:   Reducing the risk of running in the wrong direction by: •     Working with you to develop and document simple and effective strategies with clear and concise goals •     Implementing systems to enable you to see if you a profitably growing – in my case, my Bucket Accounting SystemTM   Reducing the risk of focusing on the wrong numbers by:  •     Implementing systems to enable you to see if you a profitably growing – in my case, my Bucket Accounting SystemTM •     Taking a mass of numbers and turn them into a simple to understand personalised reports •     Educating you on how to interpret and analyse your business performance   Reducing the risk of failing from poor cash management by: •     Working with you to develop the most appropriate cash flow reporting and forecasting.  •     Implementing ways to improve your cash flow •     Highlighting cash pinch points and what can be done to deal with these •     Helping you with fund raising including grants   What makes me unique is that I don’t give advice and walk away. Instead I will roll up my sleeves and dig in, working alongside you to help you scale and grow your business profitably.   Feel free to message me on LinkedIn   Also don’t forget to have a look at my video series “Learn how successful businesses scale and grow profitably” on my website .  

As Round 4 of the Export Market Development Grant (EMDG) closes today, I thought I would share my views on where the program did not work this round, and some ideas to improve it for next time. Want a confidential discussion on your business situation, help with your #businessgrant application or to learn more about my #OutsourcedCFO Services, simply email (wayne@arealcfo.com.au) or call me (0412 227 052). If you want more like this just Follow me #grants #businesssupport #business #cashflow #forecast #businesstips #arealcfo #outsourcedcfo 

If you are a Biotech business thinking of expanding to Korea and attending BioKorea 2025, the NSW Going Global Export Program Health to Korea program may be for you. Eligible businesses can jointly exhibit within the Australian National Pavilion at the BioKorea in May 2025 to participate or showcase their products. Want a confidential discussion on your business situation, help with your #businessgrant application or to learn more about my #OutsourcedCFO Services, simply email (wayne@arealcfo.com.au) or call me (0412 227 052). If you want more like this just Follow me #grants #businesssupport #business #cashflow #forecast #businesstips #arealcfo #outsourcedcfo 

As a business owner are you aware that from 1 January 2025, intentional under or late payment of certain wages or entitlements, what the media and many call “wage theft”, can be a criminal offence. And if found guilty under a criminal court of this, you could personally face jail time and / or a significant personal or company fine. So here are some things you need to know to about these new laws and how you can minimise your risk. Want a confidential discussion on your business situation, help with your #businessgrant application or to learn more about my #OutsourcedCFO Services, simply email (wayne@arealcfo.com.au) or call me (0412 227 052). If you want more like this just Follow me #grants #businesssupport #business #cashflow #forecast #businesstips #arealcfo #outsourcedcfo

3 times in the past week someone has asked me about setting up a social enterprise to use their business model to reinvest all or part of their profits to address societal issues. But there is no such legal term as “Social Enterprise” in Australia.   For example, you can’t go ASIC (Australian Securities and Investment Corporation) or the ACNC (The Australian Charities and Not-for-Profits Commission) and say you want to set up a social enterprise. As such, some people get confused and stuck on how to do this – so this blog is aimed to help you understand more about social enterprises. Want a confidential discussion on your business situation, help with your #businessgrant application or to learn more about my #OutsourcedCFO Services, simply email (wayne@arealcfo.com.au) or call me (0412 227 052). If you want more like this just Follow me #grants #businesssupport #business #cashflow #forecast #businesstips #arealcfo #outsourcedcfo 

I was interested to see in the latest Startup Muster 2024 Report that 37% of the startups stated that they were aligned with the “Enabling Capabilities” priority area of the National Reconstruction Fund (NRF).   This is nearly double the next priority area. And this scares me.   Why, because I believe the term “enabling technologies” has been misunderstood by many.    From what I can see, many simply focus on the words like artificial intelligence (AI) technologies; advanced information or communication technologies; quantum technologies; autonomous systems; robotics technologies etc.    They think that as they are building an AI solution for example, they therefore fall into the “enabling technologies” priority area of the NRF and its sister fund, the Industry Growth Program (IGF).    This was me for a while, till I dug deeper into the eligibility requirements and personally spoke to people in AusIndustry about "enabling technologies". What I clarified was that the NRF and IGF are both focused on “manufacturing technologies and products that support the advancement of Australia’s industrial capability”. In simple terms advanced manufacturing. What that means for example, that if your AI solution is focused on a service industry rather than manufacturing, then it your AI solution probably does not meet the eligibility rules of the NRF or the IGF. An example of this is the most recent investment by the NRF in Quantum Brilliance. This $13m investment was done under the “enabling capabilities” priority area. But the money will be used to help build a quantum diamond facility. My recommendation for all those startups that think they may be covered under the “Enabling Capabilities” priority area of the NRF (and IGF) is this. Why not right now apply under the IGF to get access to a free advisor. If your application gets accepted then there is a chance you will be eligible for funding under the IGF and NRF.   If it does not get accepted, in the absence of pivoting, you need to plan your way forward without any access to funds under the IGF or NRF as they now stand.   Want a confidential discussion on your business situation, help with your #businessgrant application or to learn more about my #OutsourcedCFO Services, simply email (wayne@arealcfo.com.au) or call me (0412 227 052). If you want more like this just Follow me #grants #businesssupport #business #cashflow #forecast #businesstips #arealcfo #outsourcedcfo 

The Tech Ready Women Investment Ready Program is a program to equip women with the skills, network and confidence to raise capital. What the Tech Ready Women Female Founder Startup Program covers This 5-month program is focuses on: ·       learning practical knowledge and tools to prepare for and navigate the capital-raising process ·       warm introductions to investors ·       guidance from mentors that invest or successfully raised capital; ·       due diligence support ·       improving your confidence The learning modules cover: ·       Startup and Capital Funding Strategy ·       Setting Up to Raise Capital ·       Market and Unique Value Proposition ·       Business Model and Financial Forecasting ·       Startup and Team Performance ·       The Capital Raise After that, the program provides Q&A, Monthly Group Check-In, and Monthly 1:1 Advisory. Eligibility This program is for female founders with innovative businesses that have: ·        A scalable solution that solves a problem for one or multiple customer groups; ·        Some traction as noted by first users and/or customers; and ·        A company structure, or in the process of undertaking company registration. Cost of the Program There are 40 part scholarships available which reduce the cost from of $6,295 inc GST to $795.30 inc GST 20 of these are in Qld and the other 20 for the rest of Australia Learn More Applications are now open for the National Cohort and they close on 10 January 2025. In respect of the QLD cohort, you can register your interest whilst waiting for applications to open There is a webinar and Q&A about the Tech Ready Women Investment Ready Program on 12 December 2024 Click on the link in the comments to learn more

Back in 2020 in the depths of the lockdowns I published my Business Survival Guide to help business survive those times. As we start to see more and more businesses struggle, I thought I would start posting some extracts from this guide Today’s extract is about some examples of decisions around your cash collections that you could take to help make your cash last longer. The link for the full guide is in the comments Want a confidential discussion on your business situation, simply email (wayne@arealcfo.com.au) or call me (0412 227 052). If you want more like this just Follow me #businesssurvivialguide #businesssupport #business #cashflow #forecast #businesstips #arealcfo #outsourcedcfo 

The ACT Disability Inclusion Grants provides up to $20,000 in financial support to organisations and small businesses for increased opportunities for people with disability to participate in mainstream community or social groups. For example, in the prior round one company was able to get $4,257 in funding to run workshops for eligible Canberra based community organisations to enhance knowledge and the skills required to welcome people with disability and developing a Disability Action Inclusion Plans. Small Business Eligibility Small businesses can apply if they operate in the ACT and have fewer than 20 persons (including non-employing business) Project eligibility Eligible projects must:  •        Provide an activity, project, or initiative that will be located in the ACT •        Identify how the program will benefit ACT residents with disability •        Have not received funding from another source to deliver the same or similar project Note the priority areas for the 2025 program are •        Reduce or remove physical, attitudinal, and/or communication barriers to access and inclusion •        Enable greater participation in community life for people with disability •        Include people with disability in the planning and implementation •        Result in meaningful improvements with a broad reach benefiting many people with disability in the ACT community Learn More To learn more about the ACT Disability Inclusion Grants click on the link in the comments Note applications for the 2025 round close 18 February 2025

Are you a QLD based business with ideas and technology across sport, major events, broadcasting or entertainment? Then maybe you can help the National Rugby League (NRL) solve some of their pressing challenges and get funding of $25,000 as part of the NRL Magic Round Innovation Partnership. Your idea or technology needs to focus on NRL’s priority innovation areas of: ·        Strengthen the appeal and engagement for new audiences ·        Better engage Culturally and Linguistically Diverse (CALD) fans ·        Enhance the in-stadium experience ·        Better enable volunteers and administrators to improve the participation experience ·        Boost the accessibility and appeal of stats to drive user engagement ·        Elevate the quality of the fan experience for those watching at home ·        Advance performance excellence and promote long-term career health for NRL/NRLW athletes. What the NRL Magic Round Innovation Partnership can deliver to your business   ·        Funding of $25,000 (ex GST) ·        Gain exposure and experience piloting your technology with the NRL ·        Opportunity to showcase technology at the 2025 NRL Magic Round Tech Showcase ·        Professional guidance from Australian Sports Technology Network (and a one-year membership to their services).   Eligibility Your business needs to: ·        Be an established Queensland-based business (ABN registered in QLD)) with a full-time equivalent (FTE) employee count below 200 ·        must have a product — being developed in Queensland — which is at, or beyond, the minimum viable product (MVP) stage Note businesses within and outside of sport technology are encouraged to apply to pivot and tailor solutions to sport and major events.   Learn More   To learn more about the NRL Magic Round Innovation Partnership click on the link in the comments.   Note applications close 9 January 2025