Starting a Business

Starting a Business

So you have decided to go into business and you need to figure out what is the best way to go about it?

Business Structure – Sole Trader or Company - What's the difference and why choose one over the other?
So what is the best operating structure for me? Should I be a Sole Trader or a Company? Is there a better more tax efficient structure based on my circumstances? How does a trading trust or Limited Partnership work?

We can walk through your situation and help you navigate investment structures, business partnerships and help you understand the benefits and costs of each type of business operating structure and give you advice as to what is the appropriate way to start your business.

We provide services to ensure that you are compliant with the necessary regulations of whichever business operating structure you choose.

Taxation Requirements
So now that I am in business I have to pay some tax right? My mate said I don’t need to pay tax in the first year of business? Reporting to the Inland Revenue Department requires documentation to be prepared to support your tax position. We can walk you through what those requirements are and ensure that you know what needs to be prepared and when.

We can help you understand what your taxation requirements are and we will notify and advise when you are best to pay it. There are a number of new mechanisms including tax pooling that can help you plan your tax payments and keep your operating cash flow strong. We can introduce you to these tools to help manage tax. But nothing beats planning and that is where good systems become important.

Business Systems
We work with a number of cloud based business systems and these really help us as your business advisor to ensure that we are aware of how your business is performing. These systems streamline your need to keep paper based records. With our training and support we can help you boost your productivity and get your business moving in the right direction from day one.

ACC Requirements
There are best practice ways to structure your ACC when moving into business and self employment. We can assist with this. As a new small business owner you are the biggest asset your business has - IF YOU CAN'T WORK - THE BUSINESS SINKS. So planning income protection for you is also vitally important. We can provide introductions to help you get this in place.