Cloud accounting is definitely the buzzword for Australian small and middle sized businesses. And while cloud accounting is often talked about many Perth business owners are not completely sure about what is cloud accounting and what it means for their business. Cloud accounting is still accounting The primary reason why businesses do accounting is to… Continue reading What is Cloud Accounting and how does it help family businesses?
A common theme we discuss with our clients is the concept of getting your business “sale ready”. And the recurrent focus for many of our clients is that they would prefer to focus on current, urgent, issues – tax, cashflow, HR, accounting software and the like. However, increasing the sale price of your business will… Continue reading Getting the family business sale ready
When you start a business the initial phase is incredibly exciting. Sadly this excitement can quickly disappear into terror as the reality, loneliness and monotony of running a business really kicks in. As a business that started from nothing we understand how hard it can be – because we have done it as well. These… Continue reading 10 Tips for entrepreneurs starting a business
The decision for a family business to employ staff in another country is a common first step to setting up a presence in another country. So, before you start to officially employ staff you should consider the following steps. 1. What entity is going to employ the person? Many countries require that a contract of… Continue reading 10 Steps to consider before hiring staff internationally
The need to manage a family business remotely has increased significantly with the pressure from Covid and travel limitations. Thankfully, technology has also moved significantly in recent years to allow employees to work properly in remote settings and these are some of the apps that our own business uses and that of clients. Workflow Max… Continue reading Killer apps for managing a remote team
The stock market is a significant investment source for many business-orientated families. While the family business could have been a creator of wealth the stock market is seen by many as a great long-term store of wealth. While the decision to invest in the stock market – be it through an online platform, a stockbroker… Continue reading Structuring your affairs for stock market investing
A succession plan is a long process. It is significantly more complex than preparing a will or buying an insurance policy. And within a family business it is fair to say that every succession plan is unique. If the tax, accounting, people, legal, insurance, relationship and business issues are done properly a family in business… Continue reading Creating a family succession plan
Modern workplace arrangements have changed the concept of employment. The presence of working from home, flexi time work and the “gig economy” has meant that the concept of employment and contracting has moved significantly over time. This is especially true in Perth with the physical distance of our state requires innovative business solutions. The concept… Continue reading Employee v Contractor- the tax confusion goes on
Estate planning for business families is difficult. There is a raft of legal terms like enduring powers of attorney, testamentary trusts and complex tax outcomes depending on the structures and the family dynamics. If that complexity is not enough some business advisors in Perth are not independent and everybody has a different approach. What is… Continue reading When can a binding death benefit nomination be a bad idea?
Sadly the accounting function in a family business is typically covered in a tonne of paper. Very few businesses in Perth become truly “paperless”. There is marketing documents, business cards and “wet signatures” for important key contracts. However, with the right combination of cloud technology applications from accounting, taxation and customer relationship management you can… Continue reading Let’s tell the truth – the paperless office is a myth