December 3, 2013
by Amanda Wenck
BIEDO
“We didn’t know where to turn; we thought we had run out of options. Now we are feeling hopeful for the future of our business and home.”
These are the words of one flood-affected business owner who has received assistance from BIEDO’s Business Financial Counsellor Carmel Summers.
Imminent bankruptcy proceedings have been stopped for three of the businesses Carmel is assisting due to her negotiations with the Australian Taxation Office on their behalf.
For one of her newest clients, she is mediating with a bank to have foreclosure proceedings slowed.
For another, tax return lodgements have been brought up to date and the refunds received will help the business implement strategies to increase cash flow, helping them enormously in the short and long-term.
Carmel is also helping other flood-affected enterprises to re-construct financial records, negotiate with banks and other organisations, such as the Financial Ombudsman, meet ATO obligations and create budgets and financial projections.
Taking a holistic approach to her role means that Carmel “walks beside” business owners as they navigate the recovery process. She has identified options for each of her existing clients to increase cash-flow and profitability and has helped some put more cost-effective and time-efficient systems in place.
When asked how the BIEDO Business Financial Counsellor service had helped, one client responded: “How hasn’t it helped? We were made aware of options that we didn’t know existed. We thought that we might be about to lose our business, our home – everything. We are very grateful for the help with our budget, financials and negotiations with the Tax Office. Carmel is always there to support us in any way she can and we are just so fortunate to have heard about the service right when we needed it.”
Free assistance from the BIEDO Business Financial Counsellor is available for directly and indirectly flood-affected businesses in the South Burnett, North Burnett and Banana Shire regions. For more information about the service, phone the BIEDO office on (07) 4169-7851 or email them.
