Saurrav Sood, Practice Leader (SW India), Kunal Mehra, Managing Partner & Co-Founder (SW India), and Yang Shi, Transfer Pricing Director (SW Australia) discussed crucial considerations from the standpoint of transfer pricing. Our expert speakers provided insights from both the Indian and Australian perspectives. The session delivered an insight into strategies for mitigating transfer pricing risks that multinationals can adopt while embarking on business ventures in India and Australia.

Experts

Yang Shi
Transfer Pricing Director
SW 

Rahul Sanghani
Associate Director, Tax
SW

Kunal Mehra
Managing Partner & Co-Founder
SW India

Saurrav Sood
Practice Leader | International Tax & Transfer Pricing
SW India

Contact us

If you have any queries or would like more information, please contact the Marketing team via marketing@sw-au.com.

The post Transfer pricing landscape and challenges | India & Australia perspective appeared first on SW Accountants & Advisors.

The report was conducted in partnership with Small Business Australia, a respected advocacy group for SMEs, to identify the key issues that are causing Australian small businesses continue to struggle in the post Covid era.

Ahead of the 2023 Federal Budget on 9 May, the SW & SBA Business Sentiment survey is open once again. We are asking sole traders and owners and managers of SMEs to share their experience and add their voice to help us understand the issues on the ground. If you would like to take the survey, click here.

Upcoming event for Small Business

Opportunities for growth, investment and trade are critical to everyone’s success, so SW Accountants & Advisors has once again partnered with Small Business Australia (SBA) to get to the heart of what business is looking for from the Budget, come Tuesday 9 May 2023. Take the survey to tell us what you need from the budget and sign up for our Budget Breakfast webinar as ANZ, SBA and SW experts unfold the Budget for you.

The post Greg Will talks to media about current issues for Australian businesses appeared first on SW Accountants & Advisors.

A ‘Small Business Sentiment’ survey conducted by SW Accountants & Advisors in partnership with Small Business Australia has revealed insights into the struggles and hardships faced by SMEs in Australia, with 30% of the 400+ businesses that responded indicating they would find it difficult to meet their financial commitments through 2023.

“This survey provides a clear picture of the challenges faced by SMEs in Australia, and the urgent need for government support. As we head into the May 2023 Budget, it’s clear that SMEs need help as they juggle increasing business costs, cash flow, managing employees, hybrid work policies and work-life balance,” said small business specialist Director of SW Accountants, Greg Will.

Top 5 issues for SMEs

Mr Will, who has over 20-years’ experience in helping SME’s manage and grow their businesses, said that in addition to the ongoing financial struggles that the survey also uncovered the top 5 issues faced by small to medium business owners:

1. SMEs need help with employees, including attraction, retention, incentivisation and wage pressures
2. Managing cash flow is critical, including budgeting, forecasting, and access to capital – debt or equity
3. Businesses face a cost of doing business increase, including all costs like wages for staff, running costs, rents, etc., without being able to pass on higher prices on sales, leading to margin pressure
4. SME owners need more time in the day to do everything, which is leading to work-life balance issues, mental health problems, and frustration
5. White-collar SME businesses are struggling with work-from-home or work-from-the-office policies, leading to hybrid work policies as the fifth priority for 2023.

Other significant findings from the Small Business Sentiment survey included the impact of the change to minimum wage, the ability to meet financial commitments, supply chain disruptions, and business reliance on migrant labour.

Sector insights

The report broke down into specific sectors showing that half (50%) of the businesses in Accommodation and Food Services, Education and Training, and Manufacturing are impacted by the change to minimum wage increases, leading to increased financial pressure. Additionally, a whopping three-quarters (76%) of Manufacturing respondents believed their businesses are weaker now than before the COVID pandemic due to supply chain and skilled labour shortages.

The survey also highlighted that despite a slight easing of supply chain issues as we head into 2023, 43% of those in Construction will struggle to meet their financial commitments, which will continue to have significant impacts on housing, whilst staff shortages continue to remain a significant issue for the manufacturing and construction sector.

Bill Lang, Executive Director of Small Business Australia says: “The Small Business Sentiment survey has highlighted the struggles faced by many SMEs in Australia and the urgent need for sensible and stable government policies to support this sector in 2023. SW and SBA will continue to advocate for the needs of SMEs and provide expert guidance and support to ensure their survival and growth in 2023.”

This survey is the first of its kind, with SW and SBA planning to conduct another deep dive across all sectors to compare results from last year ahead of the budget in May 2023. The findings of the survey will provide a foundation for SMEs to advocate for their interests and highlight their struggles with the federal government and policy makers.

Upcoming event for Small Business

Opportunities for growth, investment and trade are critical to everyone’s success, so SW Accountants & Advisors has once again partnered with Small Business Australia (SBA) to get to the heart of what business is looking for from the Budget, come Tuesday 9 May 2023. Take the survey to tell us what you need from the budget and sign up for our Budget Breakfast webinar as ANZ, SBA and SW experts unfold the Budget for you.

Media contact

Amanda Lee, SW
Head of Business Development & Marketing

E alee@sw-au.com
P +614 30 322 206

About the survey

About SW

About us – SW Accountants & Advisors (sw-au.com)

As an independent, national firm with a strong presence across Brisbane, Melbourne, Perth, and Sydney, SW offers a wide range of accounting and business advisory services. With 40 Partners and 300 staff, we are committed to delivering exceptional value to our clients. We are proud to be ranked as the 22nd largest firm by revenue in the 2022 AFR Top 100 Accounting Firms and the 10th largest national practice in Australia.

At SW, we believe in building real relationships and connectivity, both locally and globally. As a member of the SW International network , we provide integrated global services to our clients. Our international headquarters are located in Hong Kong, and our member firms offer assurance, business advisory, corporate finance, and tax consulting services. Additionally, we are a member of the Praxity Alliance, which enables us to leverage our combined global footprint and connections in over 110 countries across the USA, Europe, Asia Pacific, and the Middle East.

About Small Business Australia

Over 5 million Australian own or work in small businesses. Small Business Australia’s purpose is to ensure a thriving sector and financial security for these 5 million Australians. Small Business Australia conducts research with small businesses across Australia and provides information, advice and services to small businesses and the major organisations that support them. The Foundation Partners in Small Business Australia’s Buy Local movement include Australia Post, Nab, Telstra, PEXA and SW.

Greg Will
Director, Private Business and Advisory Services

Bill Lang
Executive Director, Small Business Australia

The post 1 in 3 SME’s will struggle to meet their financial commitments in 2023 report appeared first on SW Accountants & Advisors.

On 18 October 2022, SW’s Danny Armstrong sat down with CEOs Ruslan Kogan, Founder and CEO Kogan.com (ASX:KGN), Guy Carvalho, Co-Founder & CEO IBoA a member of Novatti Group (ASX:NOV) and Kurt Hansen, CEO Tesserent (ASX:TNT) to explore what digital transformation has meant for their businesses.

It was a candid, informative and interesting conversation. We invite you to take a look.

The post Digital Transformation Embrace the ride appeared first on SW Accountants & Advisors.

A change in government for the first time in nine years, further interest rate increases expected, staffing shortages, supply chain issues and rising business costs – our fourth Federal Budget in two years will need to deliver for Australian businesses, and particularly small to medium-sized enterprises (SMEs).

Opportunities for growth, investment and trade are critical to everyone’s success, so SW Accountants & Advisors has partnered with Small Business Australia (SBA) to get to the heart of what business is looking for from the Budget, come Tuesday 25 October 2022.

As the Federal Budget approaches, we invite you to:

• have your say by taking our short survey – tell us what you need from the Budget and/or pass it on to small businesses in your network
• register for our Federal Budget Webinar – hear insights from ANZ, Small Business Australia and SW industry experts.

Take the survey! Receive a $250 Small Business Australia voucher

Take this short 2-3min survey from SW and SBA and tell us what you need from the budget in order to Look forward and Open doors. You’ll help us build a robust and current view of Australian small business.

PLUS you’ll receive a $250 SBA voucher to put towards business coaching, training opportunities or Business Advantage services. Survey closes Wednesday 19 October at 6pm.   

Budget Breakfast Webinar – 26 Oct | 9.30am AEDT

Join us as we digest the details of the 2022 Federal Budget at an informative webinar with an interactive Q&A session.

Our host, Matt Birrell will be joined by guests ANZ Senior Economist, Catherine Birch, and Bill Lang, Director at Small Business Australia as well as our SW industry experts to breakdown the key details of the FY23 Federal Budget.

Online Registration details

Date         Wednesday 26 October 2022

Time         9.30am – 11am (AEDT) 

Expert speakers

Follow us on social media to receive the latest updates on Federal Budget and other important industry news.

The post Federal Budget FY23 Business Survey & Webinar appeared first on SW Accountants & Advisors.

In a business context, it’s about understanding your competitive edge, driving innovation, examining your productivity and efficiency for gains in energy, waste and water. It is rejuvenating how and why companies do business, and who they do it with.

Our team offer specialised options considering how to develop and implement integrated renewable energy solutions for businesses that operate across several sites. We are working with leading edge technology and market players to unlock opportunities for business owners, their employees and communities.

Key issues facing Boards & Executive:

• rising expectations of investors, customers, stakeholders
• Boards expected to provide ESG oversight & governance
• reducing energy costs and reducing your carbon footprint
• tell your sustainability story and control the narrative or someone else will
• increasing pressure for appropriate disclosures
• pressure to be able to measure and report on performance
• Director liabilities and penalties for poor governance of sustainability performance
• environmental matters e.g. climate risk disclosure
• multiple emerging sustainability risks and liability scenarios
• developing relevant sustainability policies and practices that align with your teams’ expectations.

Our sustainability services

Our experienced team can provide a range of assistance, depending on where you are on your sustainability journey including:

The post Sustainability & ESG appeared first on SW Accountants & Advisors.

In this fast-paced and technology-driven environment, retail businesses are compelled to prioritise flexibility in their operations to remain competitive and meet the ever-changing demands of the market. Whether it’s:

• adjusting inventory levels to align with shifting consumer trends
• optimising supply chain logistics to ensure timely deliveries, or,
• implementing innovative payment solutions to enhance the checkout experience, agility is key to staying ahead in the retail sector.

At SW, we understand the complexity of navigating this dynamic retail environment. Our experienced advisors work closely with retailers to address industry-specific challenges and provide tailored, strategic solutions that drive growth and performance.

Our services include:

• Strategic business planning to enhance operational efficiency
• Tax, audit, and risk advisory services tailored to retail challenges
• Expert guidance on navigating regulatory compliance and market disruption

We are committed to helping retailers not only meet immediate challenges but also build sustainable, future-focused business models.

Digital Transformation panel discussion

Post COVID-19, we were joined by 3 CEOs, including Ruslan Kogan from Kogan.com, to talk about their digital transformation journeys and opportunities of operating a digital first business. How social engineering techniques are utilised to prevent cyber-attacks was a popular topic.  

The post Retail & distribution appeared first on SW Accountants & Advisors.