The AI Adopt Program

Posted on 19 December 2023 | by Allan Hall

Funding for Artificial Intelligence (AI) Centres to help SMEs adopt AI technologies

The AI Adopt Program provides funding to establish up to five AI Adopt Centres to support small and medium-sized enterprises (SMEs) that engage in international and interstate trade to adopt responsible AI-enabled services and enhance their businesses.

Key points

Grants between $3 million and $5 million over four years for up to 50% of eligible project expenditure are available
Businesses in Australia that can establish centres to help Australian SMEs adopt AI technologies in their business can apply
Closing date: Monday 29 January 2024 5:00pm AEDT

GRANT GUIDELINES & RULES

Overview

The program will create a network of AI Adopt Centres, aimed at establishing a ‘front door’ for SMEs looking to explore responsible and safe adoption and usage of AI.

The objectives of the program are to:

support the safe and responsible adoption, implementation, and demonstration of real-world applications of AI technologies to address sectoral and local challenges
support SMEs to responsibly integrate AI products that assist in development of new or improved products and services
improve Australia’s future prosperity and our productivity growth by increasing AI adoption in SMEs and upskilling Australian workers in the usage of AI technologies
support a growing network of Australian AI capability that provides expertise, business and technical skills, connectivity, and access to research and partnerships. This includes engagement with the National Artificial Intelligence Centre and the Responsible AI Network to build a cohesive and comprehensive network
provide equity of access to SMEs nationwide who are operating within the identified sectoral area, aligned to the National Reconstruction Fund (NRF) priorities
create further opportunity for growth in the AI technology market through a broad increase in international demand for Australian AI capabilities
positively impact participation of underrepresented cohorts in technology, including women, First Nations Australians, and those with disability
support the Australian Government in reaching its target of 1.2 million tech-related jobs by 2030.

The intended outcomes of the program are to:

increase SMEs capacity to responsibly, safely and effectively utilise AI technologies by providing guidance, specialist training and access to specific talents and expertise
increase awareness and workforce skills within the SME sector of responsible AI adoption
increase SMEs productivity through using AI products to promote product development, and build efficiencies in NRF priority sectors.

Check if you can apply

You can apply if you meet the eligibility criteria. The eligibility criteria are a set of rules that describe who can be considered for this grant. You can apply if you:

are an eligible entity
meet additional eligibility requirements
have an eligible project
have eligible expenditure
can fund your share of the project costs, and any ineligible expenditure.

Please note that Allan Hall will be closed from 22 December and will reopen on Monday 8 January 2024.

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Industry Growth Fund

Posted on 8 December 2023 | by Allan Hall

Industry Growth Program open for business

Supporting start-ups and innovative small-to-medium businesses to commercialise and grow their ideas.

Have a great idea but not sure how to turn it into a profitable product? The Australian Government’s new Industry Growth Program is here to help. As part of stage one of the program, start-ups and small-to-medium businesses can apply for expert advice to support getting their good ideas to market.

What do you get?

You will be connected to an Industry Growth Program Adviser who will provide tailored advice to support your commercialisation and/or growth project.

Once you have received this advice, you may also be able to apply for:

grants of $50,000 to $250,000 to support early-stage commercialisation projects
grants of $100,000 to $5 million for commercialisation and growth projects.

Industry Growth Program Grants will open in 2024.

Who is this for?

Innovative small and medium enterprises with commercialisation and/or growth projects in one or more of the National Reconstruction Fund priority areas.

LEARN MORE ABOUT THE INDUSTRY GROWTH FUND

What is the Industry Growth Program?

The Industry Growth program supports start-ups and innovative small-to-medium enterprises (SMEs) to undertake commercialisation or growth projects within the National Reconstruction Fund priority areas.

Stage 1 of the program allows SMEs to receive advice from industry experts on:

commercialisation and growth strategies
funding avenues
market testing
business models
building networks.

Stage 2 of the program will provide matched grant funding for SMEs who are operating in priority areas identified under National Reconstruction Fund.

How to apply

You can apply for expert advice (stage 1) now.

Applications for grant funding (stage 2) are expected to open in early 2024.

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Alliott Global Alliance Worldwide Conference 2023

Posted on 24 November 2023 | by Allan Hall

The 2023 Worldwide Conference hosted by Alliott Global Alliance (AGA) in Athens surpassed expectations, drawing 155 delegates from 49 countries – an unprecedented turnout for our global network of accountants and lawyers.

AGA APAC Chair, Scott Jago, represented Allan Hall Business Advisors at the conference and highlighted the immense value of making international connections with both longstanding and the newest alliance members.

Participants demonstrated a keen readiness to address future challenges by leveraging their memberships and tapping into alliance expertise, business acumen, innovations and resources. Discussions spanned a diverse range of topics, including succession planning, business development, AI, cybersecurity, leadership, pricing and crisis management.

In the CEO’s keynote address, a forward-looking vision was painted, emphasising growth, adaptability and a commitment to a collaborative and innovative spirit within AGA. While acknowledging the importance of heritage and core values, the CEO stressed the necessity for AGA to evolve continually to remain relevant in the ever-changing global landscape.

The shift towards a more proactive, collaborative culture emerged as a recurring theme, with the CEO highlighting five strategic goals: creating more opportunities, maximising human resources, facilitating knowledge transfer, sharing innovations and building a stronger brand identity.

Service excellence also took centre stage, with attendees encouraged to extend a metaphorical red carpet to fellow members and their clients, fostering a culture of generosity and responsiveness. Addressing challenges, members were urged to find solutions for core services outside their expertise but within the AGA network.

Allan Hall’s International Services

We live in an entrepreneurial and globalised market and many businesses are expanding internationally. If you are an international business looking to start up in Australia, or an Australian business looking to expand overseas, Allan Hall has a highly skilled and experienced team in International Services. We collaborate with you to develop strategic solutions tailored to your business so you can respond to global opportunities and take on challenges in your chosen region.

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Allan Hall Top 100 Accountants in 2022

Posted on 9 November 2022 | by Allan Hall

Allan Hall named a Top 100 Accounting Firm by Australian Financial Review (AFR)

Brookvale accountants and business advisers Allan Hall have made the Australian Financial Review’s (AFR) Top 100 Accountants list for another year!

Allan Hall are award-winning Chartered Accountants and specialist business advisors. With nine Directors and around 90 staff, Allan Hall has become one of Australia’s largest non-CBD integrated firms offering tax, accounting and compliance plus a range business advisory services.

Allan Hall has carved a reputation for creating opportunity and growth that positively impacts staff, clients and the local Northern Beaches community with a focus on technology improvements.

The results speak for themselves, with Allan Hall clients recommending the firm for three Client Choice Awards in April. Then in June the Allan Hall team were recognised with a Wellness Program of the Year win at the Australian Accounting Awards.

This year, Allan Hall is one of only 18 ‘Top 100’ independent Sydney accounting firms to make the cut, ranked again in the top 50. Director Scott Jago said they were thrilled once again to be recognised amongst the very best accounting firms in the country.

“This is a culmination of hard work, perseverance, a dynamic director group, wonderful staff and, very importantly, great clients.”

About the AFR Top 100 Accounting Firms

Each year the AFR surveys Australian public practice accountants and compiles their rank of top-performing firms across the country. The AFR invites comment on financial performance and demographic changes over the past year, along with other business and economic-related questions. This year the AFR survey focussed on workforce issues, regulatory red tape and the challenges of running a business.

Review the AFR’s Top 100 Accounting Firms 2022 here — please note this is subscriber-only content.

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New online hub helping women succeed in business

Posted on 4 October 2022 | by Allan Hall

NSW launches online hub to support female entrepreneurs

It will now be easier for women in NSW to start, run and grow their own businesses, thanks to the State Government’s new one-stop shop Women in Business Hub going live today.

Treasurer Matt Kean said the online Hub was a recommendation of the Government’s Women’s Economic Opportunities Review to improve women’s financial security through increased workplace participation.

“There are an estimated 800,000 small businesses in NSW, accounting for more than 98 per cent of all businesses in the state but just 33 per cent are led by women,” Mr Kean said.

“The Hub will connect women with personalised support, a ‘women in business’ toolkit, opportunities for networking, training, grants, funding and mental health support to enable more women to start and grow their own business.”

Minister for Women Bronnie Taylor said the 2021-22 NSW Intergenerational Report identified that although women’s participation in business ownership is projected to increase, it is still expected to remain below that of men.

“As Minister for Women I’m thrilled that the Women in Business Hub is live. We have created the Hub to help women overcome the initial challenges of starting and developing their own businesses,” Mrs Taylor said.

“The Hub will connect women to trusted resources including the Women’s Financial Toolkit and the Return to Work Toolkit which was designed to help women easily navigate reliable resources.”

Minister for Customer Service and Digital Government Victor Dominello said the Hub will evolve over time, ensuring women receive targeted, bespoke information at their fingertips.

“By consolidating the relevant information and resources under the one roof at Service NSW, customers will now spend more time running their business and less time on bureaucracy,” Mr Dominello said.

“Whether you’re from Western Sydney, the bush or the coast, we’re here to support you through your business journey.”

The Women in Business Hub will provide female business owners information on grants, funding, training education, networking, mentoring, mental health support as well as links to assistance including:

Service NSW for Business Concierge — can help with support and requirements across the NSW Government
Business Connect — provides independent business advice including how to start, grow or relaunch a business
NSW Small Business Commission — provides support, advocacy and mediation services
TAFE NSW’s Women in Business initiative — a fully subsidised online program for women who are looking to establish a micro business, a small business or who are operating or growing a business.

The NSW Government has committed $16.5 billion across 10 years as part of the 2022-23 Budget to grow economic opportunities for NSW women and to support early childhood education and development.

For more information visit the Service NSW website.

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How businesses with accurate data insights are surviving inflation

Posted on 12 September 2022 | by Allan Hall

Article by SmartCompany: The Great Data Divide

How SMEs with accurate data insights are surviving the inflationary cycle

Key points

Real-time data is more accessible to small and medium businesses than ever before
It’s allowing a generation of business owners who’ve had to rely on experience and gut feel to transform their businesses into data-driven operations and grow their revenues and margins in the face of difficult economic headwinds

Regardless of industry, businesses can be divided into haves and have nots by the accuracy and recency of their data. For those running on gut feel, or how they’ve always done it, a perilous combination of economic drivers could push them to the wall.

With every news story headline, the outlook seems to get more challenging for SMEs. With supply chains stretched, prices rising and skilled employees impossible to find, there are pressures across every single facet of business.

Unfortunately, if you believe the forecasts — it’s likely to stay that way for a while yet. It seems that business owners are confronted with a never-ending set of challenges, and to make money in the current climate, good data, far more than good luck, is required.

In the current environment, and for a long while into the future, the divide between those who have data and those who don’t, is akin to a forecast about who will (and won’t) thrive, or even survive. While big data remains the province of large corporates and governments, real-time data is more accessible to SMEs than ever before.

This article also references the Xero Small Business Insights Report findings for July 2022.

Read the full article here »

At Allan Hall we’re experts in Xero – online accounting software that’s easy to use. Find out more about Xero here or drop us a line to get started. A better way to work – together with us, share access to your business numbers so everyone is up to speed. Xero accounting software lets you work anywhere.

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