Starting your own business can be one of life’s most exciting, rewarding and challenging experiences.
Many practical considerations arise even before you open your first business banking account or sell your first product. What is the market opportunity? What is the viability of the business? Have you considered your strengths and weaknesses and the opportunities and threats in the market?
From a financial perspective, what do the short and long term cash flow projections look like and how much money do you need to start your business and keep it running each month? What are your tax obligations and which legal or regulatory obligations must your business comply with?
SS TAX has broad experience in working with start-up businesses, and can offer you invaluable advice, support and guidance about all of these issues and more, in the early phases of your business planning.
One of the most fundamental considerations in setting up a new business is deciding which structure you will operate under. Whether you plan to operate as a sole trader, partnership or company for example, we can advise you on the pros and cons of each structure, the potential tax obligations, and the relevant regulations, laws and compliance issues.
We can also provide strategic advice on asset protection and risk management. Have you considered for example, what may happen to personal assets such as your home, car or superannuation fund if your business fails? What if one of your major suppliers or customers is declared bankrupt? Or what would happen if you or a key employee is injured and can’t work for any reason? Failure to put contingency plans in place for these types of scenarios can have disastrous effects on your business.
We are committed to supporting you turn your brilliant idea into a successful and saleable business, and can assist with:
- Business planning
- Financial analysis and cash flow projections
- Initial capital investment, funding levels and ongoing investments
- Taxation, legal and regulatory obligations
- Appropriate staffing levels, superannuation and workers compensation
- Asset protection, risk management and insurance
One of the most sound investments you can make when starting up a new business is speaking with the experts at Key Alliance. We will work with you to ensure your business is set up for success, right from the start. Contact us today discuss your business aspirations.