In this Issue

November 2008 Newsletter

From the Desk of our CEO, Andrew Blunden

November has been a particularly busy month at Part Time Professionals. Some of the highlights were:

1. Meeting senior executives from the Big-4 Australian banks. The tightening credit situation for business was the main focus of discussion. The key take-away message from these meetings was that local banks are focussing on the quality of the management team and a company's financial reporting procedures and controls when assessing business' credit ratings.

2. We completed the white paper "How to Build Your 21st Century Management Team" and this will be promoted through media outlets from 1 December (refer story below).

3. Gill Hart (formerly from Hays, Jonathan Wren and Candle) was appointed to our Business Advisory team. Gill brings a wealth of experience on labour procurement and is a great supporter of our business model. As she said "Part Time Professionals provides one of the most effective solutions I have yet seen to address both the skills shortage and the financial pressures facing business today".

4. We launched our new logo - designed by the talented Stella Sakkeus of Decorative Elements in Gippsland, Victoria. The logo represents what it means to be a part-time professional - a solid performer providing their services to business in the most flexible and cost effective way.

5. We attended the November 2008 National Small Business Forum in Melbourne (hosted by Dr Craig Emerson MP, Minister for Small Business, Independent Contractors and the Service Economy) and received further insight into the Main Street ramifications of the global financial crisis.

6. Part Time Professionals commenced membership of AusBiotech (the peak association for Australia's biotechnology industry) and the National Institute of Accountants, one of the most progressive professional accounting bodies we have yet dealt with. We are greatly encouraged by the positive support that we have received from both of these professional associations.

7. We also caught up with our San Francisco-based VP Sales and Marketing - US Region, Darren Bradley who visited Australia this month. Darren provided some disturbing insights into the effects of the financial crisis in his home state of California. An interview with Darren on his US observations will be published in next month's newsletter. Don't miss it!

Best regards,


Part-time employees rescue labour statistics

When the October labour market statistics were released by the ABS early this month, there was a stunned reaction in the media. Unemployment rates actually remained steady at a rate of 4.3 per cent. In fact, the Australian Financial Review of 7 November reported that "employment jumped by a surprise 34,300 positions last month as the economy was battered by the financial crisis...The result confounded market expectations the economy would shed about 10,000 jobs".

Regular readers of Finding the Balance, however, would not have been surprised.

Underlying these figures was a loss of 9,000 full-time jobs, offset by an increase in 43,500 part-time jobs. This kept the national unemployment rate steady. These figures suggest that more and more Australian businesses are recognising that the part-time solution is the best option during these uncertain economic times. In fact, because of these part-time figures, a record high of 10,768,300 Australians are now in employment.

21st Century Management program to be launched

On 1 December Part Time Professionals will commence its nationwide media launch of its electronic report "How to Build your 21st Century Management Team and Ensure your Business Survives through to the next Generation". This complimentary report will be issued electronically to subscribers through the website This web site will be used as a portal for business managers and owners to gain easy access to quality information that helps them survive the challenges of the next few years.

The report explains why having the best people managing a business is so important in these economic times - and reveals how any business can afford a great management team - whatever the business' size. With topics including "The 7 reasons why the master-servant relationship will not attract the best executives", the report has already received excellent reviews and testimonials from a number of professional and business associations.

As a subscriber to Finding the Balance, you are welcome to subscribe for the report now - and ensure you beat the rush!

Part Time Professionals represented at the Federal Small Business Forum

On 21 November, Part Time Professionals was represented by its CEO, Andrew Blunden, at the Small Business Forum held in Melbourne and hosted by Dr Craig Emerson, Federal Minister for Small Business, Independent Contractors and the Service Economy. The mood at the Summit had definitely deteriorated since a similar event was held in Sydney earlier this year. Discussion from the floor was robust, to say the least. Attended by a wide selection of invited industry bodies and professional associations, the Minister invited everyone to speak. In fact, he twice asked whether everyone in the room had asked all the questions that they wanted to.

Whatever one's point of view, the opportunity to ask the Minister any question without the usual time constraints was both refreshing and very welcome.

So what did Part Time Professionals suggest? Noting issues that affect both our clients and our Members: (1) could the Federal Government assist innovative companies and entrepreneurs by simplifying the process for obtaining R&D tax concessions; (2) could the means-test on the entrepreneurs tax offset be temporarily lifted to encourage more innovation during this difficult economic climate; and (3) to encourage greater private investment in innovative companies, could capital losses be offset against ordinary income, instead of simply being carried forward against future capital gains? Let's watch this space!

About Part Time Professionals

Part Time Professionals™ is wholly owned and operated in Australia. Our principals together have over 40 years experience in public accounting and as CFO's and Directors in multiple companies - both listed and unlisted. They are members of the Institute of Chartered Accountants in Australia, CPA Australia, the National Tax Agents Association, the Australian Institute of Company Directors, the Financial Executives Institute and the National Institute of Accounants.

Our aim is to help companies source the most experienced CFO, executive and corporate accounting talent, in the most cost-effective way!

We are constantly updating our website, so take a look at for more information or call us on 1300 79 1946 to discuss your needs.


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