The firm was established initially as a Chartered Accountancy practice in 1971. While most other Australian firms were still using adding machines and typewriters, GBAC computerised in 1972, using cloud computing for client's financial statements 40 years before that term reached Australian shores. The firm focused on assisting client to "make more money" by lifting their profits and thinking out
side the square. For a major Engineering firm whose senior partner had come from a W.A. For a Canberra client it came up with the idea of the ACT's first courier service. Always keen to look at consultancy from the perspective of clients, Greg Bloomfield followed the family into real estate development on the NSW Central Coast, a sheep property in the Central West, Australia's first art hire company and an equipment hire company both based in Sydney. When banks were de-regulated he saw the disaster of them "flogging" unaffordable loans to all and sundry. Particularly he went to the rescue of farmers around Australia who were under pressure from bank "debt collectors" when bad seasons made the loans unserviceable. Then he spread the work to assist business people suffering the same fate, often convinced by bank "salesmen" to take loans that were never, ever affordable for the business. Wioth access to politicians in every Australian parliament GBAC has become a low-profile, effective advocate for business and farm clients. At the same time it is well placed to assist profit maximisation. Greg holds that the prime role of any business is to make profits and says that any business can do so if its executives take the right profit-making strategies.
