- CA ANZ’s new brand campaign Driving the business behind your business features a series of podcasts
- Ross Greenwood talks with David Armstrong FCA, about cash flow and profitability
- The podcasts reinforces the value CAs bring to the SME community
Chartered Accountants Australia and New Zealand (CA ANZ) has invested in a new brand campaign based on the theme “Driving the business behind your business”. It’s aimed at reinforcing the value that Chartered Accountants offer to the 3 million-plus small-to-medium enterprises (SMEs) located across Australia and New Zealand.
As part of the campaign a series of “The Network” podcasts have been launched featuring well-known television and radio personality Ross Greenwood having conversations with a Chartered Accountant about matters relevant to SMEs. The first podcast tackles the topic of cash flow and profitability, and sees Greenwood catch up with David Armstrong, Director of Sydney-based firm Modoras Downes Barrington.
As Armstrong explains, “Cash flow is like oxygen for a business”, and he explains how SMEs need to plan for cash flow, starting with a business plan.
“Talk through your business plan with your Chartered Accountant and take it to your bank so they have a chance of knowing what’s going on”, advises Armstrong.
While many SMEs experience the challenge of what Greenwood describes as “lumpy” cash flow, Armstrong offers practical tips on how SMEs can manage this issue with a range of strategies including new product lines, upselling to existing customers and ways to encourage existing customers to “keep coming back”.
“We tell clients what they need to hear – not what they want to hear. You can’t sugarcoat these things.”
As Greenwood notes, failing to control cash flow can have dire consequences. “Small businesses need to be on their game,” cautions Armstrong. He notes the reputational risks businesses face if they start to become a late payer, and says the upshot is that “SMEs need a Chartered Accountant to get a decent business plan to plan for cash flow”.
Armstrong explains the signs of cash flow stress that SMEs need to watch for, and offers some solutions for cash flow management peppered with anecdotes of his own clients’ success stories.
“We tell clients what they need to hear – not what they want to hear,” says Armstrong. “You can’t sugarcoat these things.” Just as valuable, he notes that CAs are able to unlock value by seeing things the business owner may not have noticed, and deepening the relationship to explore new opportunities for revenue and strengthened cash flow .
It’s good advice for SMEs – and a vital message to build the CA brand across the business community.
Check out the podcast
Listen to the full conversation between David and Ross.The Network Podcast