Membership qualification guidelines

To qualify for EO Sydney, members must :

  • Turnover more than US$1m
  • Meet 3 of the following criteria :
    • AUS$5m revenue 
    • AUS$500,000 profit
    • More than 5 staff
    • Year on year growth 
    • Be unique for EO Sydney 
  • Be the founder/co-founder, owner or controlling shareholder of their business

Further definitions of founder/co-founder /owner /controlling shareholder can be found on the global website here

Not for profit and Venture-funded companies can also qualify - please see the criteria here

Requalification

Requalification forms will need to be completed on annual renewal of membership - stating that you turnover more than US$1m and that you are  the founder/co-founder, owner or controlling shareholder of your business. ie. that you have effective control of your business. 

If you are a controlling shareholder you will be asked whether you are a company director as defined by ASIC. You can check the ASIC definition here

Grace period

If this is not the case, you can apply for a grace period. Sydney's grace period will follow the global grace period guidelines and will apply from July 1st 2018 :

  • If you have been a member for less than 5 years, you will have 1 year's grace period from July1st 2018
  • If you have been a member for more than 5 years, and are in good standing, you can have 3 years of grace period from July1st 2018, subject to Board approval 

Grace period following the sale of a business

If you have sold your business, different grace periods apply as follows :

Members who have been a fully qualified EO member in good standing (not under grace period) for 2 full calendar years and have had a “successful exit” can remain members for 5 more years. A successful exit is defined as US $8 million. If, within that time, “they have started a new business” they are allowed to stay on after the 5 years are over. The new business is not required to meet a minimum revenue qualification.

In addition, Members who have sold their businesses for less than US$8 million may remain in EO at their Chapter Board’s discretion under the following conditions:

  • a) Three-quarter chapter board vote;
  • b) Annual review by the Chapter Board of whether to retain the Member; 

AND

  • c) Subject to Global Board approval.

 

PLEASE COMPLETE THE FOLLOWING FORM  TO REQUALIFY FOR 2018/19 MEMBERSHIP OR APPLY FOR A GRACE PERIOD:

Name *
Name
I wish to : *
If you answered "grace period" please go directly to "submit" below. If you wish to requalify, please answer the following questions: My business turns over more than US$1m per year
Within my business I am :
If you answered "controlling shareholder" or "none of the above" - Are you a Director of your company as defined by ASIC ?
(Please see link to the ASIC definition in the introductory section of this page if you are unsure )