Turn Your Business Idea Into A Reality.
If you have an idea for a new business venture but lack the experience and expertise in legal or financial knowledge, here is an overview of the process involved:
- Decide on the most suitable structure for your business — Are you a sole trader, a partnership or a limited company?
- Plan ahead — Form a business plan, cashflow projections, budgets, training forecasts and standard operating procedures.
- Assess your financial requirements — Get advice on the best sources of finance for your sector, and draw up the necessary proposals.
- Relationships — Establish a good working relationship with your bank.
- Registrations — Register for an Australian Business Number with the ATO and complete registration procedures with the Australian Securities and Investments Commission.
- Administration — Deal with secretarial issues (we can help).
- Internal Systems — Set up a recording system for your internal use to comply with statutory requirements.
When working with clients to start a new business venture— and we’ve worked with many —you discover all the layers involved in a business. Many accounting firms don’t have a broad enough view, and the people they work with suffer.