BUSINESS
BUSINESS STRUCTURES AND ASSOCIATED ISSUES
STRUCTURES
It is important to get the correct structure to operate a business however what structure may be correct when a client first starts out may well change over time. Accordingly careful consideration is required when advising clients who embark on a business venture to give due consideration to all aspects, not only now, but also look at the potential for change and the effect it may have in relation to a clients structure with respect to tax consequences.
The common structures are as follows:
Sole Trader (Individual).
Partnerships (group of Individuals, Companies or Trusts).
Trusts.
Company.
Superannuation Funds (Trust).
Hyatt Partners can advise on these structures and arrange for the completion of all documentation with respect to Trust, Superannuation Fund & Company formation together with attending to all Australian Taxation Office registrations applicable thereto.
The common structures are as follows:
Sole Trader (Individual).
Partnerships (group of Individuals, Companies or Trusts).
Trusts.
Company.
Superannuation Funds (Trust).
Hyatt Partners can advise on these structures and arrange for the completion of all documentation with respect to Trust, Superannuation Fund & Company formation together with attending to all Australian Taxation Office registrations applicable thereto.
PLANNING
In developing a business the fundamental prerequisite is to have a business plan. The plan can vary from business to business but the following issues must be addressed in an effort to negate unforeseen problems. Hyatt Partners can assist with all facets in regards to the following issues required to be considered. (Not limited to)
Business mission statement.
Detailed budgeted forecast.
Resources required (Staffing, Plant & Equipment, Premises).
Capital required (Equity/Debt).
SWOT Analysis ( Strengths, Weaknesses, Opportunities and Threats).
Business Structure (per above).
Lease of Premises (Review agreement).
Shareholder / Partnership Agreements.
Business mission statement.
Detailed budgeted forecast.
Resources required (Staffing, Plant & Equipment, Premises).
Capital required (Equity/Debt).
SWOT Analysis ( Strengths, Weaknesses, Opportunities and Threats).
Business Structure (per above).
Lease of Premises (Review agreement).
Shareholder / Partnership Agreements.
BUSINESS SALE & PURCHASE EVALUATIONS
A fundamental element of Hyatt Partners is to evaluate business purchases and sales. In respect of a sale of business we prepare detailed adjusted net profit schedules and apply a Return on Investment (ROI) to evaluate the potential sale value of a business (not a licensed valuation). This together with an evaluation of the business such as, the industry to which the business belongs, ease or difficulty in running the business and all other matters, can all bear on the potential ROI that a business would sell for.
In respect of purchasing a business Hyatt Partners can provide due diligence in reviewing the purchasers financial information in the context of the asking price and advise accordingly.
In respect of purchasing a business Hyatt Partners can provide due diligence in reviewing the purchasers financial information in the context of the asking price and advise accordingly.
BOOKKEEPING SERVICES
Hyatt Partners can offer training in respect of some software products, namely, MYOB, Quicken and Cash Flow Manager for clients who would like some individual training.