Trades are a significant employer and a large, diverse industry sector across Australia.
The sector includes businesses in a variety of segments including:
Vehicles: mechanics, air conditioning, auto electrical, tinting, fitout etc.
Machinery operators: bobcats, excavators, bull dozers, forklifts etc.
Buildings: plumbers, carpenters, painters, electrical, tilers, concreters, joiners etc.
Equipment: diagnostic, mechanics, lathing, tooling, small engine.
What we do for this industry
While we provide the excellence in tax compliance assistance BAS & Tax returns, we also can assist with;
Cloud based bookkeeping
Business start-up assistance
Cash flow analysis
Long term planning
Challenges & Opportunities
Challenges facing this sector include ensuring hourly rates, material pricing and employee productivity are correct. We can assist with understanding some technological solutions that can be used to help business owners stay on top of these critical elements.
Another challenge is that fluctuations in the demand for this sector are linked with the economy, housing markets and the energy sector. While some segments in this sector have seen rapid growth over the last few years, others have been faced with increasing price competition and a slowing of demand.
Case study 1: Keeping compliant
Our client grew from a community’s need and was unaware of their legal responsibilities in both establishment and reporting requirements and were unintentionally non-compliant.
We reviewed their accounts and procedures to determine where they were being non-compliant and were able to determine what legislation was applicable and assist the organisation with understanding their responsibilities.
After five years of being non-compliant the organisation is now working with the knowledge that it is meeting its responsibilities under the legislation and can now operate with confidence in the community providing its much needed services.
Case study 2: Helping to manage a small volunteer association
The new treasurer of a small volunteer association contacted us regarding their upcoming audit. The treasurer was unable to operate the software used by the previous treasurer and did not fully understand the function of their role.
We were able to advise the treasurer of the general responsibilities of their role and provide adequate training on the use of the software.
The treasurer is now able to carry out the functions of their role and maintain all the appropriate records and documents.