Member Spotlight: First Class Accounts – Palm Beach

Servicing a variety of clients ranging from small sole trader service businesses to retail stores and cafes and manufacturing or import/export businesses, local Certified Bookkeeping Specialist, Michael Westerberg, has a lot to offer for those struggling during the COVID-19 crisis. Don't be fooled, however, into thinking Michael is just a bookkeeper; in fact, he also offers the chance for your business to be more efficient through technology to save you money and increase your profitability. With a long history in managing business and understanding finance, Michael is now applying his knowledge to support businesses struggling through tumultuous financial pressures and offering a chance to shed some light on grants and programs which may be available to you. 

Since the crisis began, Michael has been working hard and has doubled down on current clients to offer an increase in work. This dedication has meant Michael has seen a decrease in the output/income ratio but says its all worth it:

"we believe the decision to stand together with our clients demonstrates what our values are".

The team at First Class Accounts have had their fair share of challenges during the crisis, the firm's offer to their existing clients meant a sudden mountain of work. Michael explains that with new and ever-changing rules around Jobkeeper, the Cash Flow Boost, as well as a variety of new grants, there has been a lot of reading to keep up with and to be able to effectively communicate to clients.

"We see ourselves as genuine partners with our clients and if our clients are going through a hard time, we step up and do everything we can to get them through. This has led to expanding our role to negotiating with landlords, debt collection, re-negotiating clients contracts with their suppliers, connecting them with business coaches, strategising to quickly pivot their business to online, and ensuring their cybersecurity is up to standard".

As a word of advice to members, Michael has offered the below top three tips for the current business climate:

1. Outsource your bookkeeping to First Class Accounts – Palm Beach or, if you already have an accounts team or bookkeeper, add us to your team to add our strengths to your already existing strengths.
2. Make the most of online technology but be aware of the increase cyber threat to your business.
3. Lastly, stay positive and look for ways to capitalise on the new market.  It is not the fittest who survive but those most able to adapt.

You can learn more about this local business, here.
Check out Michaels Facebook page, here.