Accountants – There Are Opportunities Everywhere! But You Must be “Proactive” Rather than “Reactive”!
You might ask – where are the opportunities to create “new income streams” from other than compliance work?
The opportunities include:
Personal Property Securities Register
I have recently completed a series of workshops for the Entrepreneurs Program (Australian government). When I asked the directors and officers attending the workshops whether they knew anything about the Personal Property Securities Register, less than 5% indicated that they had heard about the PPSR.
When I enquired as to how many of the directors/officers had been contacted by their accountants to advise them of the significant risks that they were incurring by not registering customers on the Personal Property Securities Register, only 1 out of 120 attendees indicated that their accountant had contacted them to discuss the risks that their business was running by ignoring the Personal Property Securities Register.
This director indicated that he was very grateful for his accountant’s advice – because after their conversation his business was very aware of the potential risks if a company had a liquidator appointed and the liquidator issued a “preferential payment claim”.