Following a successful trial, the regulator has announced that it will move ahead with its cash flow coaching initiative to assist small businesses.
In its National Financial Literacy Strategy Annual Highlights Report 2016–17 , the Australian Securities and Investments Commission (ASIC) announced that its Cash Flow Coaching Kit education program will be moving into full implementation, following a successful pilot involving 190 accountants, bookkeepers and business advisers as well as over 500 small businesses across the country.
The kit is designed to assist small business owners throughout their business’ life cycle by developing the skills required to effectively manage cash flow and meet financial commitments.
The education program will first be implemented through intermediaries and external parties before being made available to small businesses through coaching sessions.
The Cash Flow Coaching Kit also won the Public Service Category at the 2017 Australian Good Design Awards, with the design recognised for its “smart, practical application of design thinking to a widespread, real-life need”.
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