Beames Capital

I just broke my left foot in 13 places. Am I unhappy? NO. 

Why you ask. Well, the three below beautifully written articles sum up everything for me and are the perfect way to finish my 2018 while thinking ahead positively towards 2019.

Firstly, I should note this is the first time I have published an article on LinkedIn so if you think it is rubbish let’s go with with the Rudi Giuliani ‘someone at LinkedIn must have hacked my account and changed the article to be of lower quality…‘ line. That sounds fair, right?

So why am I not unhappy having just broken my foot? 

Firstthis article published today by The Guardian and shared here on LinkedIn by recruiting industry rockstar RCSA CEO Charles Cameron. It is titled ‘Australia has a dirty secret: we are mostly happy’. Yep, happy. Forget the constant barrage of negative fear-mongering nonsense most media platforms spew forth solely, I believe, to try desperately to remain relevant. The article talks about how this week’s Essential Report blows the whistle on the deceit that fuels the outrage industry: contrary to the noise in Canberra, we Australians are basically a pretty happy bunch.

It is definitely worth a read to help you set an emotional baseline about how you thought you went in 2018 and what you hope to achieve in 2019. Great writing @PeterLewisEMC!

Secondthis article published today by InnovationAus.com and shared by William Buck’sR&D Incentive expert, Dr Rita Choueiri. The article is titled ‘Labour to preserve R&D Tax Scheme’. 

At the Labor Party’s national conference in Adelaide recently, the Party, or more specifically the Shadow Industry Minister Senator Kim Carr outlined a significant focus on technology and innovation in its draft platform, even unveiling a new “innovation agenda”. He also went on to say they will commit to preserving the incentive and noted that the R&D Tax Incentive is critical to Australia’s ability to remain globally competitive by encouraging firms to develop their ideas in this country. Way to go Labour and Kim Carr!

It beggars belief that the current government is unsupportive of the Incentive and that the ATO is so hell-bent on not supporting it they end up being investigated on award-winning investigative news programs like Four Corners, even being called ‘a mongrel bunch of bastards’. I accept that there are some idiots out there trying to take advantage and they should be stopped, but the other 99.99% desperately need help to build the future of Australia’s workforce.

Thirdthis article written on LinkedIn by VC Guru Daniel Petre of Airtree Ventures fame shows that the sector (currently being hammered by the Morrison government) employs more people than the entire mining sector! Yes, that sector that pretty much pays for everything now but not for long. Daniel talks about how not so long ago Google was a startup, as was AppleFacebookAmazonNetflix and then so was AlibabaTencent, and Baidu. At home in Australia we have had the fantastic performance of AtlassianWiseTechAconex, and Seek, who are all now global businesses employing thousands of Australians in well-paid roles. Even more recently we have CanvaCampaign MonitorCulture Amp and Afterpay who did not exist 10 years ago, and are now all employing north of 300 people each, and are worth anywhere from $300m to $2bn. WOW!

I won’t go on and paraphrase the entire article as you can read it yourself. Bottom line here is positive. Startups are the future of Australia. Startups need help. That help is in the form of the R&D Tax Incentive staying – and increasing – and being put at the top of the list. That’s what Labour has promised to do – and by the way, I vote. Enough said.

Thanks for reading this far. I would like to thank the following for making business in 2018 a magical year for me:

  • Craig Watson and the team at Recstra for smashing through their commercialisation goals, proving their concept works, and finalising their first Series A. 2019 will be HUGE for you guys.
  • Grant McCallOliver Garside, and the team at Rounded for giving Sole Traders the most beautiful and powerful accounting tool ever seen. Also for completing your capital raise and doubling your subscriber numbers.
  • Jay Cooper, Kris Flowers, and the team at Solo Cover. The cheapest, best quality, and most accessible to buy comprehensive insurance for Sole Traders will hit the shelves Q1 next year and thanks to support from Arch Insurance will start to scale globally from day one.
  • Shoshana SibonyJohn Fernandes, and the team at Nivato for having the courage to have a go at making the $30B a year NDIS scheme more accessible to the 500,000 participants who need it. The Gillard government gave Australia this wonderful gift, and in Q2 next year Nivato will make it so to access you’ll forget it was built by the government!
  • Julian DayEdward Mandla, and the team at Consensus One Fund. Our $50M fund has already received good support through verbal pledges, and we will be ready to deploy funds by 30 June 2019. It’s been hard work but enjoyable and fruitful.
  • Robin DoenickeAngela CrippsRob Sheffield, and the team at Zensho Agency in Tokyo. Redefining recruitment is not easy but you’ve done it, and 2019 will be youryear. And thanks for the broken foot!
  • Lastly, Beames Capital Chairman, Gerry Bullon, who is my best mate, mentor, sounding board, teacher, stabiliser, investor, and Yoda-like provider of insights.

There are a lot of people in my business life, and I thank you all for your guidance and allowing me to be part of your/our journey.

This is Beamesy signing off 2018.