We identify where in the business cycle you are at and work with you to identify the
appropriate services required to suit your needs now and in the future.
As business advisors and consultants, our services are aimed at improving and growing your business and not just providing compliance and tax work.
Many owners get into business without actually having a plan. This is dangerous considering how much of their time and resources are spent on starting a business. Questions to consider include:
- How well do you know your competitors, markets, and demographics?
- How much should you be charging for your services or products?
- Are you aware of all the ongoing costs associated with running your business? Each industry is different.
- Are you marketing your services or products in the right manner?
We can help you establish definitive and accountable timelines.
- Systems and processes
How do you keep track of your income and expenses? Being a start-up business you may or may not need accounting software. Either way we are able to provide you with the systems and tips to maintain data. This is important for not only compliance purposes but also to monitor your progress and to maintain and improve your efficiency.
Business owners who don’t get this right become bogged down with inefficient systems and practices. Frustration creeps in as they find themselves spending more time sorting out administrative hassles than working on their business and growing it.
- Marketing tips and support
As accountants we deal with hundreds of clients from different industries. We know a thing or two about marketing to help grow your business and areas where you should avoid expenditure.
We also have many referral partners that we can connect you with to establish a marketing plan.
Growth of a Business
This is the stage where your products and services are starting to sell more and you find your cashflows improving. This is a crucial period. Being smart here and seeking advice in a timely manner will help you potentially save thousands of dollars each year in tax and cashflows.
Remember, waiting until the end of a financial year is too late to change or fix anything that has already happened. That is why we work with our clients throughout the year so they don’t miss any opportunities.
We revisit your business plan, systems and processes to ensure they are relevant for you and the market.
You might still be growing or you might want to cap the growth to suit your work capacity, lifestyle or for whatever reasons. You would be looking to ensure your business is well oiled and running smoothly. We will look to maintain your position, automate systems and processes, mitigate any threats by keeping an eye out on industry, market, economic or political changes.
We will work with you to establish a succession plan.
If you have staff, we will look at whether they are being utilised properly, review their contracts and pay rates. This is to ensure you are receiving maximum value out of employing someone as salary is often the biggest expense for a business.
We will also ensure you are complying with the Fair Works minimum employment standards. You could be penalised heavily if you don’t get this right. You might not need to ‘employ’ someone and could instead hire someone to do the same work for less cost and with no compulsory superannuation requirements. We will look at whether this is an option for you as various factors will need to be taken into consideration.
Exiting your business
Not many business owners are aware that when they sell their business there could be capital gains tax implications. Without being aware of this, many sell their businesses only to be hit with a significant tax which they then spend years trying to pay off.
When you’ve worked hard in your business you want to be rewarded for it and walk away carefree when you eventually sell it. So, seek advice to get this right.
We work closely with business owners and they are kept aware of the exit strategies whereby they can sell their business without having to pay tax.
Call us for an appointment on 1300 082 695
Our team are committed to upgrading their knowledge and research skills. We receive ongoing training throughout the year covering advancements in products, services, policy and legislation. Our clients benefit from our focus on keeping up with change and our ability to implement new materials widely across all services. We are a best practice firm.