Rands Advisory Group can talk through the opportunity you have identified to set up a business, understanding the implications and likely financial return from the business venture. We can help you decide whether it is a worthwhile pursuit and the timing of commencement.

If you decide to proceed, we can help you understand the regulatory and other requirements for the business and the other professionals you may need to see.

What Should You Consider When Setting Up a Business?

Business Structures

Prior to starting the business, it is important to understand the various types of business structure, such as a partnership, family trust or company, which can be used. Rands Advisory Group can advise you on these business structures and work with you to determine which is the most appropriate for your situation.

Business Funding

If the business needs funding for vehicles, equipment or working capital, we can help you determine what is required and how it should be structured. Banks and other lenders have different types of loans and asset funding facilities, and these can have different tax and GST implications.

Business Record Keeping

Business record-keeping is an important part of starting a business. The financial performance of the company should govern decisions on all aspects of the business’s ownership and operation. Accurate financial reports allow the correct decisions to be made. We can help you choose the most appropriate accounting system for your business.

We work with business owners to ensure that the necessary financial reports are prepared in the most efficient way, having regard to the requirements of the business and the owner. We have implemented many cloud-based accounting systems such as Xero and help business owners use them.

Once you are underway, we can support your business to the extent which is appropriate and are always available to help with the other stages of your business’s life cycle.