Starting A Business

Simple. Clear. Transparent.

If you’re starting a business, it pays to start out right.

We’ll make sure you get the right business structure and the right processes in place right from the outset.

Accountants Who Listen

Our starting point? We listen to understand your goals, to ensure we give the right advice.

Accounting Without the Jargon

While we love the numbers and all the legal requirements, we know you probably don’t.

We’ll help you get your business on its feet quickly and we’ll deal with the accounting, so you can focus on growing your business and earning income.

We’re accountants without the jargon.  We like to cut through the complexity and talk in clear language you will understand.

Accountants With Simple Easy to Understand Fees

Every business is different, so we’ll tailor a package to you. Your package will be simple and affordable. We help you understand right from the start what your full costs will be for the year.  You won’t get charged extra every time you talk to us or send us an email.  We actually like to talk to you and would rather you raise concerns or issues early so we can help you succeed.

Sound Like the Kind of Accountants You Need?

Lets talk.  An initial consultation is completely free and we’d love to get to know you.

Important Questions When You Are Starting

You’ve probably got a whole bunch of questions about starting your business. Bring them along and lets talk about them.  As we learn more about your business we’ll also help you think through things you may not have yet considered.  Some of the important things we should talk through include:

What is the best structure for your business?

Should you register as a sole trader, partnership, company or trust?

Each structure carries different risks, tax outcomes and benefits.  We’ll help you understand each one and setup the one that best suits your business and goals.  It’s important to get this right from the start.

What registrations do you need to operate legally?

How you register your business and the type of business you run will determine what registrations you need.  There may be the setup of your company, partnership or trust, an ABN, GST, Workcover, superannuation, and more.  It can sound overwhelming, but by asking you a few simple questions we’ll know exactly what you need and you’ll be surprised how quick and painless it can be.

How do you manage your business and personal finances?

It’s important to manage your business and personal finances separately.  How you do this will depend on your goals and the structure you choose.  We’ll help you get good processes in place that keep good records while not becoming so time consuming they distract you from running your business.

How do you manage cashflow?

Even profitable businesses can get into financial trouble.  It sounds crazy, but its true – the timing of when you make payments and when you receive your income is extremely important.  We review your business plan and help you plan your cashflow.  Our experience in hundreds of businesses helps us spot strengths and weaknesses in your plans.  Often, some simple changes to your business plan can help you establish a much healthier business.

How to track your sales and profit margins?

Good information leads to good decision making.  We help you establish systems that will give you visibility on your income and expenses in useful categories so you can analyse and improve your performance.  We take time to review your financial statements, ensure you understand them and help you identify what they are communicating regarding your strengths and opportunities to improve.

Do I need finance and what are my options?

Having the right amount of working capital is critical for your business.  Some businesses fund this through funds from the owners and normal business cash-flows, others requires external financing.  There are many different ways you can obtain finance for a business and improve your working capital position.  We help you work out whether you need finance and how much.  We guide you in understanding your different options and their relative benefits, risks and costs.

How does tax, super and workers compensation insurance work?

There are many different kinds of tax that will affect your business: general tax on your business profits, GST, PAYGW tax you deduct from your employee wages, and depending on your size, location and nature of your business other duties, payroll taxes, land taxes, etc. There are also superannuation and workcover insurance obligations.  It sounds complicated, but this is what we deal with all the time.  Once we understand your business we can give you a simple outline of what will apply and we can even manage most of it for you.

Will you be dealing with a junior accountant?

We’ve seen it over and over again.  You start with an accounting firm and meet experienced partners, then once you need real work done or advice, you get shuffled to a junior accountant because you’re not big enough to get noticed.

It doesn’t happen at Hillyer Riches.  The experienced partners and accountants you meet when you come to us for an initial consultation will be the same people you deal with for your work.  We love helping start-ups succeed.  When you succeed you become a bigger client and that’s great for your business and for us.  To see that success we believe you need the best advice, so we always give you access to our senior staff.  We are the right size and have the right approach for your business.

How do you guarantee success?

Success in business is never guaranteed – starting a business creates great opportunities but also brings risk.  There are things you can do though to reduce your risk and increase your chance of success.  One of the most important is getting the right advice from people who really care about your business and your success.  We’ve worked with hundreds of businesses including dozens of startups.   We’ve helped many others succeed with our simple, clear advice, experience, listening and analytical skills.  We’d love to come on the journey with you too.  Give us a call and lets talk.

Do it once. Do it right.