New Business Advice
When you are starting a new business there’s a lot going on, business name and structure registrations, business planning, tax registrations and the list goes on and on. It can be both the most exciting and stressful time of your life! At Small Business Works we help business owners open new businesses, get their young business back on track and help with major expansion plans almost every day.
When starting a New Business or expanding your business there is often so much to do it can be hard to know where it start, we can help with:
- Selecting and registering a suitable business structure, we do a detailed analysis of your needs and ensure that the business structure selected protects your assets, is tax effective and most importantly works for you. Once registered we will establish what other registrations are required and arrange them for you too. (E.g. tax file number, GST & ABN, PAYG withholding, WET tax, fuel tax credits, etc.)
- Setting up cash flow and profit and loss forecasts, do you have a set that both look good for the banks and work on a day to day basis? Effective forecasting and reporting is especially important for young businesses. Survey after survey proves that the more regularly you compile management reports on your business the more profitable your business will be and the less likely it is to fail. I review KPIs at the end of every day in my business.
- Risk planning and mitigation. Business owners bear an enormous amount of risk; luckily many risks can be insured against or planned for. With the partnership of our financial planning firm www.chelseafinancialplanning.com we can offer a very comprehensive risk planning service.
Alan Maddick the senior partner of the firm helps 2-3 new business owners start every week, if you are looking for a business start-up and young business specialist call the office for an appointment today. Please remember we are happy to travel to most areas in suburban Melbourne. Call the office on 1800 556 122 or contact our Small Business Accountants here.