14 December 2021
Experts in business planning and finance, PKF Sydney & Newcastle have joined forces with brand, product and marketing experts, GHO, to bring a new type of ventures proposition to Australian Startups.
GHO and PKF have uniquely designed programs that provide a framework for innovation and growth, prioritising go-to-market strategies over blue sky thinking and idea generation.
Despite a growth in professional services focused on start-ups, there is a gap in the market for a more complete service that helps new businesses avoid conflicting advice or having to work with multiple partners that may eat away at cash and / or equity.
This new venture between PKF and GHO recognises that the Australian market has seen a large increase in new professional services in this area, buoyed by a strong increase in capital available for investment in start-ups. However, the path to market is challenging and complex requiring the right balance of experience and advice backed by proven processes.
Equally, with borders still shut and corporates paying more than ever to secure creative and technology talent, Startups are hard-pressed to access the talent they need for growth without giving away too much cash and/or equity.
This venture between PKF and GHO will enable Startups to access diverse talent across business, finance, creative, product and marketing through either a full sweat-equity or part cash/part equity deal. This type of model has already been successfully implemented with Hunter based Startup Grub Lab, an augmented reality entertainment experience for the food service industry which has recently completed a new round of funding and signed a major distribution deal with food services industry leader Simplot, along with NRL and AFL licensing deals.
Says Mick Carr CEO Grub Lab:
“The problem that startups like us face is not a lack of advice from business, finance and creative industries. It’s being able to access this breadth of experience without signing over a lot of equity or much needed cash to a long list of partners. PKF and GHO bring these skills together and provides strategic processes for us that are designed to ensure we can leverage this mix and breadth of experience alongside our own talents. We’ve worked together for 3 years now, and I couldn’t be more delighted with the outcome.”
Says PKF Sydney & Newcastle Managing Director Steve Meyn:
“PKF have been supporting startups like Grub Lab and AirCamp for some time, but this venture with GHO enables us to offer a more holistic offering and reduce the risk for the Startups we back as they go to market and scale.”
Says GHO Strategy Director James Legge:
“Innovation and creativity is core to what we do and a critical requirement of start-ups but we’ve long believed there is an opportunity to change the model for supporting these businesses and to help them scale rapidly and with clear purpose. By developing our design thinking offering and service-for-equity commercial models, together with PKF, we’re in a position to help deliver a clearer path to profit and growth.”
PKF Newcastle and Sydney, started in very humble beginnings, in suburban Newcastle. The values instilled by our founder continue to form the foundation of who we are, how we treat our people, and how we service our clients. Today, PKF is a mid-tier practice and a national award-winning audit, tax and business advisory firm which provides a comprehensive range of specialist business services to organisations committed to success, across a broad range of industries. We employ over 240 people and are passionate about helping our local community.
PKF Australia is a Top 15 Accounting firm.
With over 90 partners and over 750 staff located in Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Hobart, Newcastle, Gold Coast, Tamworth, Walcha, Central Coast and Rockhampton.
PKF International is a global family of legally independent firms bound together by a shared commitment to quality, integrity and the creation of clarity in a complex regulatory environment.
Our family consists of over 400 offices, operating in 150 countries across five regions. We specialise in providing high quality audit, accounting, tax, and business advisory solutions to international and domestic organisations in all our markets.
For more information contact Sarah Scott – PKF Chief Marketing Officer on 02 4935 6176 or at [email protected].