Resilience in numbers

To our friends and colleagues out there supporting local business in these crazy economic times; you’ve done a great job. You all deserve a pat on the back!

Professional advice is more critical than ever when trying economic times are adding to the pressure on Australian businesses large and small.

This includes accountants and other professional service providers who are also in business and are working their butts off to digest new legislation, government funding opportunities, compliance, and tax measures.

We believe the accounting industry deserves recognition for its resilience in supporting businesses during a time of immense frustration and emotion for all of us, by persevering against great odds.

It’s a set of emotions our wonderful clients understand all too well, as they grapple with the pressures of being in business, of working hard to deliver for their clients and for doing their absolute best to get results and make ends meet for the long-term viability and success of their businesses.

Over the past 18 months the accounting world has been tipped on its head, but the industry has responded well in the face of overwhelming demands and often unreasonable expectations.

The sustained pressure of ‘Life in the time of Covid-19’ has seen many of our professional colleagues and practitioners pressed to deliver on all fronts, providing advice for business survival, and at the same time securing clients access to new support measures such as JobKeeper and Cashflow Boost which are regularly announced to business before the mechanisms for claiming them have been put into place.

We understand that many of our business clients are experiencing high to very high levels of stress, but we as your advisors are not immune to that. Yes, we are here to help, and will always go the extra mile, but please understand that just like you we are also running a business under new and often extreme circumstances.

At MWM, our ‘team’ principles enable us to assist each other and our clients through these testing times, where closing the loop on our conversations with clients and our internal communications is paramount to getting successful outcomes and meeting demand.

We appreciate the opportunity to work with a diverse and dynamic group of clients who trust in what we’re doing, feel safe in the knowledge that we ‘get’ them and are assured that we will always do our best to help.

Small enough to care, big enough to make a difference

In recent times we’ve seen a significant increase in the number of enquiries related to financial distress. As a result, our advisory teams are shouldering heavier workloads, and higher levels of stress seeking out solutions in tight timeframes.

The pressure from regional and state-wide lockdowns is not expected to ease anytime soon, and we have all been faced with a rapidly changing business ecosystem, new business support measures, and ever-changing government guidelines.

The surging client demands and expectations that have evolved from a demanding 18 months, have tested all of us to stay calm in the face of real adversity.

Our aim as always is to find answers, present solutions and outline next steps to move forward.

We continue to work at giving back to the community we exist within here on the beautiful Gold Coast and remind ourselves how lucky we really are.

So, let’s stand up and be counted, respect and understand one another, and continue to do what it takes, because the numbers don’t lie!

Celebrate the End of Financial Year with your team and ours

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.

30 June is coming – what’s your game plan?

30 June is coming – what’s your game plan?

End of Financial Year Tax Planning. While Covid-19 and the uncertain business landscape it created made planning difficult, what we can say with certainty at MWM is that in our experience those who had a plan have navigated the past two years more successfully than those who didn’t.