What Structure Is Best for My Business?

We listen to your business goals and needs so we can use our years of experience to advise you on the best structure that suits your business.

Sole traders operate as individuals, in their own name.

Partnerships are when two or more people run a business and all partners share in the profits and importantly, share any liabilities incurred by any of them, in respect of the business.

A company is a separate entity incorporated under the Corporations Act.  A company has the benefit of protecting the Directors from personal liability but generally this protection does not apply if a Director allows the company to trade while it is unable to pay its debts. It is the Director’s responsibility to make sure a company is not trading while insolvent.  A declaration of solvency must be made each year by the Directors.

For more information about these important distinctions and the tax and liability implications you need to talk directly to us, so we can ensure you make informed decisions on these complex issues.

What Is A Business Plan?

When starting up a new business it is helpful to establish a Business Plan.  This exercise helps you set goals and clarify your intentions for your business, that is, what you want to do and how you plan to achieve it.

We can help you look at trading forecasts based on anticipated turnover.  This information also helps you prepare a realistic budget to look at your costs.  From these two reports we can then forecast the likely cash flow generated from trading.

Equipped with this information you will be able to see when your cash flows strongly, when and how much income tax will be due and anticipate your GST payments, interest and loan repayments.  We know from experience that this information is vital in the early stages of a business.

Applying for A Loan?

We can help you determine how much you need and what kind of loan might suit you. This is where a business plan is useful to add credibility to your application.  We are happy support you when you meet with your bank manager.

You will need an Australian Business Number and Tax File Number

We can take care of this for you and ensure the forms are filled out with the right information to ensure your ABN and TFN are processed smoothly.

How Do I Set Up A Company?

We can establish your company with ease.  We are experienced in completing the necessary forms, minutes, nomination of directors, corporate secretarial and Shareholder information that must be advised to the Australian Securities and Investments Commission (ASIC).

The forms and information collected are determined by the Corporations Act and changes must be advised to ASIC, or fines may apply.  We can help you to prepare the annual solvency statement required by law and keep all your company secretarial matters up to date.

We do this every day, so let us take care of these requirements and you can focus on your new enterprise.

Contact us today.

Disclaimer:
The above services are provided by Stanley & Stewart Accountants Pty Ltd ABN 76 114 691 673, trading as Stanley & Stewart Chartered Accountants, a company that is not licensed to provide financial planning services.
Any financial planning services required are provided by Stanley & Stewart Financial Planning Pty Ltd ABN 97 611 554 299, an Authorised Representative of Politis Investment Strategies Pty Ltd ACN 71 106 823 241 AFSL No 253125.
Liability limited under a scheme approved by Professional Standards Legislation.