Business Advisory Services
Two key features of advising businesses are:
- Regular communication through meetings, phone calls and emails.
- Emphasising forward planning with our clients.
We provide the following Business Advisory Services to clients:
Buying or Starting a New Business
This includes:
- Review of “form 2” documents provided by vendors if an existing business is being purchased
- Profit estimates and cash flow projections for the new business venture
- Advising on the most appropriate business structure, particularly taking into account income tax, capital gains tax and asset protection issues
- Explaining how the Pay-As-You-Go tax rules apply
- GST and stamp duty considerations on the purchase of a business
- Employer obligations including
- Superannuation
- Workcover
- Payroll tax
Selling a Business
We provide specialised advice for people looking to sell a business including:
- Their financial results, particularly how their key performance indicators are tracking.
- Keeping abreast of changes to tax rules.
- Capital gains tax, including the extremely generous small business concessions.
- The vastly different tax implications on disposal of goodwill, plant and equipment and trading stock.
- GST considerations.
Business Structures
We also review the structures of existing businesses as the most appropriate structure may change as a business owner’s circumstances change. Key considerations include assessment of:
- Keeping abreast of changes to tax rules.
- Asset Protection.
- Changing business and family circumstances
- Income tax
- Capital gains tax
- Stamp duty
- Land tax
- Succession planning
Business Profitability Improvement
Many people find business financial statements to be convoluted lists of numbers involving income, expenses, assets and liabilities which doesn’t make a lot of sense! We simplify business financial statements into the following key profit drivers:
- Turnover
- Direct costs of actually doing the business activity (materials, wages etc)
- Gross profit and gross profit margin
- Overhead expenses
- Net profit
By helping clients focus on these key profit drivers, we help them identify ways to greatly improve their profitability.
Quarterly Business Planning
Business owners who monitor their financial performance regularly make better and more timely management decisions which leads to improved business performance. It’s that simple and it works!
We facilitate quarterly meetings with our clients, which keeps them focussed on the following:
- Their financial results, particularly how their key performance indicators are tracking.
- Keeping abreast of changes to tax rules.
- Forward planning to ensure they don’t receive any unwanted tax surprises.