Business Advisory

Budgeting

A good budget is one of the best business tools you can have and is a necessity in a good business plan, enabling you to set financial targets and measure your performance.

If you are starting a new business it is vital to have a well-planned budget to evaluate the viability of your business idea, to set goals and to assess whether an idea is realistic, from a business and financial perspective.

A good budget can also help established small-business owners gauge the financial health of their business, identify new investment opportunities and to measure performance. In short, no business should be without a working budget.

In addition to goal-setting, budgets will often improve your chances of acquiring business funding. Financiers usually require budgets as a prerequisite for funding approval.

At Teakle Accounting we can help you prepare the right budget for your requirements.

Our experienced accountants can show you how a budget can provide vital feedback that enables you to prepare for the future of your business.

Business Start-Up

If you are starting a new business it is essential to do your homework thoroughly.

At Teakle Accounting we can help you turn your business idea into a reality.

If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:

• Decide on the most suitable structure for your business - Sole trader, partnership, trust or limited company
• Prepare a business plan, cash flow projections, budgets, and trading forecasts
• Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
• Establish a good working relationship with your bank
• Register for an Australian Business Number
• Complete registration procedures with the Australian Securities and Investments Commission
• Deal with company administration issues

Succession Planning

Nobody likes to think about it, but it's inevitable that one day you'll leave your business. Whether you decide to sell up, retire or leave due to health reasons, it's important that you plan for that day. A succession (or exit) plan outlines who will take over your business when you leave.

To ensure the long-term success of your business, it is critical to establish a well-designed succession plan.

A good succession plan will help your business transition smoothly to the new owner. By planning your exit early, you can maximise the value of your business and help it to meet future needs.

Coordinating the transition of your business to your successors can be an arduous process. At Teakle Accounting we have the experience to help you address the complex issues of business continuation.

Contact us for more information on forming a plan that facilitates a structured and well-planned continuation of your business.

Selling a Business

Selling a business can be a difficult, challenging time and the tasks involved can seem particularly arduous.

At Teakle Accounting we take the unwanted burden from you.

The services we provide for preparing to sell a business include:

• Analysis of historical and trending financial performance of the business and establishing a realistic sale price
• Analysing the GST and Capital Gains Tax consequences and accessing Small Business Concessions
• Preparation of interim financial statements
• Exit planning and understanding your future objectives and advising on the various options open to you to exit the business
• Succession planning

Our friendly, professional team will help you obtain a maximum return for your business.

Buying a Business

When it comes to buying a business, there are a lot of things to consider. It’s important to have a clear strategy in place which will help you make informed decisions throughout the buying process and ensure that you’re getting the best possible deal.

You’ll need to do your due diligence, research the industry, and determine if the business is a good fit for you. 

At Teakle Accounting we can work with you to better understand the following:

• Decide on the most suitable structure for your business - Sole Trader, Partnership, Trust or Company
• Prepare a business plan, cash flow projections, budgets, and trading forecasts
• Assess your finance requirements and advise on the best sources of finance
• Undertake due diligence and analysis
• Review pricing and terms for purchase
• Long term Capital Gains Tax (CGT) implications
• Understanding small business CGT concessions
• Establish a good working relationship with your bank
• Register for an Australian Business Number
• Complete registration procedures with the Australian Securities and Investments Commission
• Deal with company administration issues

Our friendly, professional team will help you make the right decision on buying a business. 

Financial Analysis Reports

In today’s complex and unpredictable environment, it’s easy to lose sight of what you set out to achieve. 

At Teakle Accounting our team of experienced accountants are skilled in helping business owners implement contemporary business practices, to allow your business to reach its full potential. 

Whether you have an established business or are just starting out, we can provide financial analysis and tailor-made advisory services to help you make informed decisions about your business and give you a better understanding of your business's financial health.

Ownership Structures

One of the key decisions you’ll make when starting a business is its structure. 

Your choice of structure will depend on the size and type of business and how you want to run it. Each structure may have an impact on key areas such the income tax effectiveness, capital gains tax issues, asset protection, liability, estate & succession planning, set-up & ongoing costs, complexity and ownership requirements.

The four main business structures that you can choose from when starting or expanding your business are Sole Trader, Partnership, Trust & Company. 

At Teakle Accounting we understand the importance of selecting the most suitable ownership structure for your business and we can help you navigate these options with our expert advice, personalised service and tailored solutions to ensure your business's success and long-term growth.

Preparation of Business Cash Flows and Profit Forecasts

Cash flow is the lifeblood of any small business. Ensuring you have enough cash available to meet your tax obligations including GST, PAYG and superannuation can be challenge enough, but if you also aspire to grow your business having a solid cash flow plan in place is vital.

Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all your expenses every month?

Surviving in today's business climate requires you to spend more time working on your business than in it. Cash flow forecasting is a vital part of ensuring your business will always have the cash it needs because profits don't pay bills 'Cash does'.

At Teakle Accounting we can provide you with accurate, timely and informative cash flow forecasting reports that enable you to:

• Realise and understand when cash is available
• Plan and prepare for expansion, stock control, and taxes
• Analyse and anticipate key expenses

Equipped with this information, we'll work with you to develop business strategies that can help you to improve your bottom line.