So, you’re setting up a new business or start-up. You know there are challenges ahead, including growing your customer base, but what are the essential pieces of infrastructure you need to get in place at the beginning?
That’s where we come in.
As business advisors in Melbourne over three decades, we’ve helped literally hundreds of business owners and start-up founders negotiate their way through the start-up maze.
Steps to Setting up a Business
There are many steps to setting up a business and we’ve identified the key elements you need to think through at the beginning, including your choice of business structure, accounting software (including cloud-based accounting options) and various business registrations. We can also assist in gaining access to bank loans or government grants.
Budgeting and understanding your likely cash flow from the outset will help you start strong, and establish sound practices from the outset to keep you in business over the longer term.
Setting up your financial systems to be efficient, accurate, and provide you with useful, timely financial reports and KPIs from the outset will go a long way to helping ensure the success of your new business.
We will help you understand your statutory obligations and set up systems to meet them, including correctly setting up for GST. This will ensure time and money is not lost dealing with issues that arise because of incorrect setup, and that financial information is interpreted at an early stage so that you can adapt quickly to ensure your long term success.
Depending on your structure, there are numerous mandatory reporting to, and processes involving, government agencies. We make these easy for you to follow, instead of putting a dint in the joy and energy you have when starting your new business!
We can also advise you in relation to hiring your first employees and other team members, including correctly setting up for payroll, leave calculations, superannuation and correctly structured employee benefits. Cloud-based accounting systems provide significant benefits for stream-lined operations from the outset – we will help you choose and setup the best cloud accounting system to meet your needs.
Advice Beyond the Numbers
Both partners of Ahead for Business have MBAs and thoroughly understand business, beyond just the numbers. We are pleased to provide advice on matters such as hiring and recruitment of high calibre people and deciding whether they should be employees or contractors.