Developing that niche idea into a successful, sustainable business and ensuring it thrives – this is a theme our team can provide exceptional insight on. After all, GM&Co began with just one accountant – our founder Glyn – in a small office at Keith (in South Australia’s South East) in 1974. From there it has grown and developed into a trusted and successful firm – now with 17 tax professionals on the books (and room for more). So when it comes to starting your business, let us help you turn your idea into a reality.
We can provide expertise in both the legal and financial aspects of creating a new business, including:
- Business structures: Deciding on the most suitable structure for your business, whether sole trader, partnership, or limited company
- Business plans: Preparing a business plan, cash flow projections, budgets and trading forecasts
- Assessing finance: Assessing your finance requirements, advising on the best sources of finance and drawing up the necessary proposals
- Business banking: Establishing a good working relationship with your bank
- Business registrations: Registering for an Australian Business Number with the ATO and completing registration procedures with Australian Securities and Investments Commission
- Record systems: Setting up an internal recording system for complying with statutory requirements
Planning for the future
Once you’ve got that business up and running, the key to success is planning ahead. What if a competitor starts up down the road?
Our team can help future-proof your business by establishing a strategic plan which forecasts where you want your business to be in the next three to five years, and exactly how you and your team can achieve this.
A great strategic plan will:
- Define the characteristics of your company in the future;
- Identify your competitors;
- Define your objectives and financial goals;
- Put in place an effective implementation plan to achieve your goals.