Business Advisory News For Accountants

In the last few months, the Federal government has released two new grant programs, which offer significant benefits, not only to employees, but also to the businesses themselves.   These grants are Industry Skills Fund and Training for Employment Scholarship.   Accountants, who are acting as trusted advisers and offering a range of business activities, are able to alert their small/medium enterprise clients to these types of grants.  In some instances, they will be able to actually perform some of the work relating to the grant funding.   Industry Skills Fund The Industry Skills Fund has different levels of benefit available, depending on the number of full-time equivalent (FTE) employees that are engaged by the business.  These range from: ·          Micro-businesses (0-4 FTE employees) – 75% ·          Small businesses (5-19 FTE employees) – 66% ·          Medium businesses (20-199 FTE employees) – 50% ·          Large businesses (200+ FTE employees) – 25%   The business’ contribution must be in cash.