BUSINESS ADVISORY
Small Business Advisory
We help small to medium businesses by offering a tailored, adaptable, flexible, and efficient business advice.
We can also help you develop and implement advisory boards, strategies, succession plans, governance and risk management frameworks, debt, and equity funding to protect and grow your business.
We can also help you develop and implement advisory boards, strategies, succession plans, governance and risk management frameworks, debt, and equity funding to protect and grow your business.
Structuring
Right business structure is critical for maximising operational and tax efficiencies, minimising risks and achieving your business objectives.
The business structure will be dependent on the size and type of business and your involvement in the day-to-day operations.
Business structures should be constantly reviewed for its appropriateness considering prevailing economic, taxation and personal circumstances.
The business structure will be dependent on the size and type of business and your involvement in the day-to-day operations.
Business structures should be constantly reviewed for its appropriateness considering prevailing economic, taxation and personal circumstances.
The right structure will:
- Set your business up for securing funding, debt, or equity
- Establish operational efficiencies
- Maximise your tax efficiencies in the short and long term
- Minimise your risks, protect assets, and compliance cost
- Set conditions for future ownership transition
- Help achieve your business goals and maximise wealth
Following are the most common business structures, however each one of them has its own advantage and dis-advantage:
- Sole trader
- Partnership
- Company
- Trust
We can help you set up a business structure that is most suitable to your circumstances and will promote your business growth and assets protection.
There are several ways business can be structured, but the four most common are as follows:
Sole trader
Running your business as a sole trader is simple and cost effective. You can trade in your name and your business’ income and expenses are included in your personal tax return. However, your personal assets are exposed as there is no separation between business and personal assets and there is no tax advantage and flexibility.
Company
An incorporated company operates as a separate legal entity and is controlled by its directors for day-to-day operations, and the ownership split between its shareholders. Company structures are regulated by ASIC. While a company structure provides basic asset protection, its directors can still be legally liable for their actions and, in some cases, the company’s debts. Profits are taxed within the company and distributed to shareholders as dividend. Losses are retained within the company and can only be offset with profits of the company.
Partnership
A partnership is an association of two or more individuals or entities running a business together in an unincorporated structure. The partnership is not a separate legal entity and care must be taken with asset protection because each partner has joint and several liability for the business’ activities. The partnership itself does not pay tax and any profits or losses are shared by the partners and taxed under their names.
Trust
A trust is an entity that holds property for the benefit of others, trust is not a separate legal entity and operates through its appointed trustee who can be individuals or a company, and for business trusts generally a corporate trustee is preferred. Trust structure is very common in Australia, and it is a relatively complex structure to understand and administer. Profits and funds generated in a trust can be fixed or discretionary and are generally distributed to beneficiaries who become liable for any tax on the profits. Losses are retained within the trust and cannot be distributed to beneficiaries.
We can help you set up a business structure that will promote growth and assets protection
Business Strategy
- We can provide forward-thinking strategic advice to help you realise the potential of your business. A strategic plan ensures you and your team are on the same page, stay focussed on the task at hand and achieve the business outcome.
- Strategic planning support includes a broad range of business needs. It will come down to the current business situation and your goals for the future. Some of the areas we can focus on and guide you through include:
- Structuring and re-structuring advice
- Budgeting and forecasting
- Operational effectiveness
- Risk management framework and strategy
- Financial and tax planning
- Goal setting and milestone tracking
We will run facilitated sessions to determine your ‘why’, identify areas where opportunities exist and get to the root cause of any problems by conducting regular review and will update the strategy to ensure the targets are achieved. We can add value to following areas in business lifecycle:
- Start a business
- Buy a business
- Improve the business
- Grow the business
- Sell the business
Corporate Governance
- We can help you set up governance framework for your business need which is invaluable for business stakeholders, regulatory bodies, and establishing governance culture.
- Our corporate governance solutions provide:
- Health checks on governance systems and framework
- Design and implementation of governance frameworks, policies, and procedures
- Preparation of annual financial reports
- Corporate secretarial services to support corporate and ASIC compliance
- Board and committee assessments and reviews
- Board management advisory services, including financial disclosures, regulatory obligations, proposed transactions, and crisis support
- Technical support and training for boards and senior management
Government Grants
- We can help you access following state and federal government support and grants:
- Export Market Development Grant
- Australian Government's Grants
- NSW Grants and Financial Support for Business
- R&D Tax Incentive
Succession Planning
- We work with you to create an effective succession plan to ensure the best results for both the business, and your next generation of leaders including yourself.
- An effective succession plan for the long-term growth, and stability of your business
- We will work closely with you to determine the best solution for your relevant circumstances, including but not limited to following:
- Selling the business
- Implementing intergenerational succession plan
- An employee or management buyout
- A public listing
We will help you take your business to the next level, so it thrives now and into the future.