Membership qualification guidelines
To qualify for EO Sydney, members must :
Turnover more than US$1m
Meet 3 of the following criteria :
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 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
If this is not the case, you can apply for a grace period. Sydney's grace period follows the global grace period guidelines :
If you have been a member for less than 5 years, and have ceased to qualify this year, you will have 1 year's grace period from July1st 2019
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 2019, 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;
c) Subject to Global Board approval.
PLEASE COMPLETE THE FOLLOWING FORM TO REQUALIFY FOR 2019/20 MEMBERSHIP OR APPLY FOR A GRACE PERIOD: