According to a recent report by PricewaterhouseCoopers (PwC), Bankstown is on a very strong path to financial solidity over the next two years.
This should be fantastic news for any businesses already in the region, and it could also be drawing new faces into the landscape. When that happens, any new entrants to the city should be on the lookout for small-business accounting in Bankstown – and that’s where DBS Accountants comes into the picture.
Our many valued clients are already reaping the rewards of having a great team behind them and helping out with their books, payroll solutions and any auditing services that need to be done. If you’re looking to get into a region where debt is dropping rapidly and you see Sydney as the best place for your business, the findings from PwC will interest you.
How will your small business respond to Bankstown being debt free in 2017?Debt on the way out
PwC has found that if the financial stability of businesses and the council in Bankstown continues, it will be free of debt heading through 2017.
“We have managed to turn around a $3 million deficit in 2013 to be in the black with an $8.2 million surplus this year,” said Bankstown Mayor Khal Asfour.
“This is an outstanding result that’s been made possible thanks to good leadership and management. [The] council has done a lot of hard work analysing the way it does things in order to improve efficiencies and this is a result of our commitment to being a city of excellence.”
That about says it all for Bankstown – it’s a city that has grown from strength to strength, and it doesn’t look like that growth is about to slow down anytime soon.
What will this mean for new businesses?
“We have managed to turn around a $3 million deficit in 2013 to be in the black with an $8.2 million surplus this year.”
For a start, it’ll ensure Bankstown will be an attractive option for new businesses from all walks of the Sydney industries. Any savvy owner is always looking for new ways to improve their business prospects, and with the state of Bankstown at the moment, this is one region people won’t want to look beyond.
Adding that to the recent changes outlined in the Federal Budget last week, and there’s not only a need to have a solid accounting firm behind you to keep your books up-to-date, but understanding where your business fits into the landscape after tax thresholds have been altered is going to be significant to future growth.
Get in touch with the team at DBS Accountants for more information about what great accounting can do for your business.