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The big question at the moment I am being asked is around NDIS registeration post the announcement of the review recommendations.
Those who have reached out are wondering if they are to registered now to keep their business going into the future and what their business may look like, what action they can take now.
When it comes to NDIS registration it is a process that is a business decision and it is important to understand the options that you have with this process. The NDIS review final report has included what registration MAY look like in the future, however right now nothing has changed.
"Should I register now? How do I secure my business future?
What is involved in the Registration process and why does it seem to cost so much?"
The key thing I would like you to remember is that the NDIS review recommendations are RECOMMENDATIONS and it's important that outside of what Mr Shorten said in an interview on Sunday that it will take 2 years to develop and implement the registration system, there are NO dates of anything at the time of this article with the exception that this is 5 year plan.
So if you are thinking of registering since the NDIS review has been released , then it can be a good idea to take the time to stop and weigh up your options.
So with that in mind....
Should I register now?
Let's break it down.
Step by step so you can make an informed decision.
Registration in its current form is one size fits all process with the same audit process for everyone. It is required for some providers and it is a choice for others.
The current registration process is taking a long time for many business, especially support worker services and support coordinators, with many people sharing with me they are still waiting 2.5 years since their audit. Some business' have got their registration inside a year but not a lot, and every application and scenario is different.
Question: What are the recommendations for NDIS registration process and how is it different to now?
Based on the recommendations and what I have included in a different article, the registration process could be a tiered system, which means the auditing process and need for audit is different at each level, the recommendations refer to a risk management approach. You can read the full article and NDIS recommendations for yourself to understand it more and this article: Where to Next - Post NDIS review recommendations
Question: What costs are involved in NDIS Registration?
Breaking down the current NDIS registration expenses...
The current costs and why people are being convinced to pay so much is they are sold a dream by many consultants and business... with them feeling abandoned after their audit.
Registeration cost in currently system
Documents, policies and procedures
Audit - start at $1500 and go up from there depending on the auditor and the size of your business, the registration you are applying for.
Internal audit - preparing for audit varies from auditor
Consultant fees to complete the application form for you. - varies from Consultant and company, I have heard many charge over $3,000 ( we do not charge that amount)
Offer of 12 months support from sign up.- varies from company to company - many feedback to me that support does not come once audit is done.
How to save money on NDIS registration process in current system.
Documents, policies and procedures- you should already have these.
Completing application form- you can do most of it yourself and you should be aware of what is on it, as this will come up in your audit.
Understand your business plan and financial plan- what are your business goals, your marketing plan and how will you achieve those goals.
Work with a coach, consultant as you need them, instead of being locked into 12 month contract.
Internal audit shouldn't be more than $800 - $1500 depending on the size of your business.
Moving forward
There are a lot of resources and information on NDIS registration on the NDIS website and whether it is now you choose to register or later, it is your choice for your business.
We have FREE resources you can access to help you know what is required for your business now whether you choose to register now in the current system or to wait and see what is announced with regards to the recommendations and registeration and what if anything changes.
If you are wanting to take some action while waiting to see what else is announced, then you can start by ensuring your business process, documents, policies and procedures are in place and you are using them. That your business foundation is solid and you have a business plan in place. You have your business goals that are clear and you stay up to date with the legislation.
Take your time to read the NDIS review recommendations yourself and take the time to process them. Make decisions based on what is current and to the best of your knowledge at each moment in time.
It is your business and only you can make the final decision. Always seek professional input as required and take it one step at a time.
Other articles:
NDIS review Recommendations and final report
Documents, policies and procedures available here: Disability Sector store - we have pay in 4 via paypal if that helps you. Starter kits- documents only, Policies and Procedures bundles, Ultimate bundles that includes all documents, policies and procedures.
Book a FREE initial call here. Discovery call
Business Coaching - Consultation upon request, we recommend starting with the FREE call.
Connect and Grow Magazine comes out each month on the 16th and we will have more articles and business listings in there for you to view also.
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Disclaimer: All information is correct at the time of publication and is is subject to change.
The information in this article is intended for general use only and it is the responsibility of the ready to seek the correct professional input for specifice requirements, such as ATO, Accountant, Laywer, HR. Every business and person is different.