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    Privately held business - Start up guide 2011 Privately held business - Start up guide 2011 Document Transcript

    • Privately held business:helping start-ups start upA dedicated team to making it simpler to start up
    • ContentsIntroduction 3The business plan and the 4business life cycle –what’s the big idea?Structure – start as you mean 10to go onCash – the oxygen of your 12businessSystems and information – 14“you can manage what youcan measure”About Grant Thornton 15Contact us 152
    • IntroductionMost management literature and learning will take yourstrengths for granted and focus on addressing your weaknesses.This guide is about focusing on the strengths of your business,on the things that count and on the factors that we believe makethe difference between success and failure. A quick glance at statistics from students sittingexaminations reveals that two thirds of students who fail, do soby 5% or less. The lesson from this is quite clear: “The gap between success and failure issmall – small things matter.” While starting your own business is more complex andchallenging than an examination, this lesson, we believe, isfundamental to the success and profitable commercialisation ofyour business idea – small things matter. In this guide designed for start-ups and early stage businesses,we focus on the four cornerstones of a successful start-up:1 The business plan and the business lifecycle – what’s the big idea? 2 The structure – start as you mean to go on3 Cash is the oxygen of the business4 Systems and information – what you need to measure so you can manageIt is important to understand how your business will progressthrough the different stages of the business life cycle. Eachsuccessful stage of the development of a business provides newchallenges. As the saying goes: “Anyone can run a small business andanyone can run a large business. The hardbit is getting from small to large.”Tony MarkwellNational Head of Privately Held Business ServicesGrant Thornton Australia 3
    • The business plan and the businesslife cycle: what’s the big idea?Why prepare a business plan? parties, including investors, banks and • what do you want to achieve?Planning is fundamental to business government agencies, of the potential − what is your unique selling point?success. It is the key to getting things viability of the business. − why would customers buy fromdone and making things happen. A Following the K.I.S.S. principle you?business plan is an operating tool that will (Keep It Simple, Stupid!), a business • how do you intend to achieve yourhelp you manage your business, its day- plan should be easy to read, easy to goals?to-day operations and guide you towards understand and easy to follow. − what are the key milestones?success. It is the first marketing aid that The best business plan answers the − what are the critical successyou will use to convince interested third following questions: factors/barriers to achieving your goal? What are you going to do about them? • what funding is required to achieve“If you fail to plan, you plan to fail.” your goal? − which milestones will the first fundraising achieve? Many business owners engage advisors to assist them with their business plan to the extent that it ends up taking on a life of its own and developing into something that is not truly theirs. It is important that you keep a firm reign on your own business plan. No-one else should understand your business and its goals as well you do. Preparing a business plan will help you identify potential problems and implement appropriate solutions before they arise. A business plan is necessary as it: • gives business owners a current assessment of the business as well as a roadmap for the future • helps a business grow; both organically and through outside funding • provides up-to-date business information to secure financing; ranging from an overdraft facility or bank loan to venture capital funding.4
    • What’s in a business plan?The main elements of a business plan include: Executive summary an overview of your business and its potential Background and description the rationale behind the business Management and organisational structure how your business will be organised and managed Market research and the marketing plan a comprehensive analysis of market potential and dynamics Pricing strategy analysis on the price point chosen and its affect on the image of the product or services provided – details of overall gross profit and gross profit per product Channels of distribution the geographic area - whether it is better to sell directly, through retail outlets or wholesalers Product/service promotion advertising, personal selling and sales promotion Sales management details of sales team and track record – the selling methods that will be employed – the sales volume and activity targets – length of the sales process – procedures in place for handling customer complaints Sales forecasts a sales forecast on which monthly cash flows and budgets can be based should be prepared The operations plan this section should describe the type and function of the equipment you are buying so that the reader will have a clear image of your operational environment Three-way forecast projecting projected results for the business demonstrating initial • Profit & Loss Statement capital required, break-even point, potential return on • Cash Flow investment and over what period • Balance Sheet It is crucial to clearly demonstrate the Less is morefinancial viability of the business. If you Key milestones should be identified byincorporated the above elements into setting out what you intend to achieve inyour business plan, you have the basis 0 to 6 months, 6 to 12 months and greaterof a good, workable plan which can be than 12 months. There should be noreviewed and modified as your business more than four milestones in each period.progresses. This is also an excellent A short, concise yet comprehensivedocument which can be presented to business plan is much more effectivethe relevant government agencies and than say, a 100 page business plan thatfunding organisations. incorporates too much information. The lengthier the business plan, the more likely it will lose focus on the things that matter. 5
    • Tools that can helpThere are many simple techniques to Positive Negativestrategically develop your business idea.We recommend using the following: Strengths Weaknesses • technological skills • absence of important skillsSWOT analysis* – critiques the • leading brands • weak brands Internal factorsbusiness’s Strengths and Weaknesses • distribution channels • poor access to distributioninternal to the business, and the • customer loyalty • low customer retentionOpportunities and Threats external to • production quality • unreliable product/servicethe business, using a balanced scorecard • scale • sub-scaleapproach. An example of this model is • management • managementoutlined below: Opportunities Threats • changing customer tastes • changing customer tastes • liberalisation of geographic • closing of geographic markets External factors markets • technological advances • technological advances • changes in government politics • changes in government politics • tax increases • lever personal taxes • change in population age- • change in population age- structure structure • new distribution channels • new distribution channels*Barney, Jay. Gaining and Sustaining Competitive Advantage. 2nd ed. Upper Saddle River, NJ: Prentice Hall, 2002.6
    • Porter’s Five Forces** – analysesthe business’ external environment by Threat oflooking at the position of its’ suppliers, new entrybuyers, competitors, threat of substitutegoods and threat of new entrants. It helpsin portraying the business visually. Thismodel is summarised below: Supplier Competitive Buyer power rivalry power Threat of substitution Threat of new entry Buyer power Threat of substitution Supplier power Competitive rivalry Time & cost of entry No. of customers Substitute performance No. of suppliers No. of competitors Technology protection Competitor differences Cost of change Uniqueness of service Quality differences Specialist knowledge Ability to substitute Size of suppliers Switching costs Barriers to entry Size of each order Ability to substitute Customer loyalty Economies of scale Cost of changing Cost of changing Cost of exit Price sensitivityConducting both a SWOT analysis and More than words idea off the ground will only come withPorter’s Five Forces in your business plan Your business plan needs more than just experience – for some a catch 22. Thewill help highlight the critical success words. You need a committed person/ backers need to believe that you arefactors of your business. In addition, key team who are going to make it all happen. the only one who can make this workbarriers to success will be identified and As the promoter of the business and work profitably. This, ironically, isplans to remedy these must be then put idea you have to get people/funders exactly the opposite to how an acquirerin place before the business idea gets off interested. Firstly, they have to believe will feel if you are trying to sell thethe page or the business plan is circulated in the product and, secondly, and more business once it has been successful.to a third party. importantly, they have to believe in you. Researching the market, and really You are the one to build a team, to make understanding and communicating it happen, to make the hard decisions and what’s different about your product, will to convince new customers to go with an contribute to building belief. So too will unproven product. an honest use of SWOT and Porter’s Five A lot of what’s needed to get the Forces.**Porter, M.E. (1980) Competitive Strategy, Free Press, New York, 1980. 7
    • The business life cycle:where do you fit in? Founder’s Competition Technology PassionValue $ Growth Established Start Up Time Start-up stage Establishment stage Growth stageStarting a business can be exciting, Getting the right business mix and Grant Thornton understands the needchallenging, fun, frightening and model to meet your aspirations requires for tailored growth strategies that deliverrewarding – often all in a single day. strategic planning. results. We have a robust appreciationThis can be an emotional time for most Planning highlights important of the factors that govern growth andbusiness owners. issues that will have an impact on your profitability. Your business deserves every company’s performance. Issues such as A business health check allows thechance to succeed. Grant Thornton has structuring, asset protection, financial owner to gain an insight into how thepartnered with many new businesses and working capital modelling and business is performing against its goalsto help them get off to the right start. regulatory requirements are crucial to and previous planning. We also adviseFrom the outset (and regularly over time) your future success. on tax planning and asset protectionGrant Thornton guides clients through Most importantly we challenge our throughout the growth phase.an intensive strategic planning process. clients to consider the exit stage right We assist clients to manage cash flowDuring this time we challenge our clients from the start. What is the purpose of the carefully. Businesses that experienceas to their preconception of the business, business? What is the exit strategy for the rapid growth risk using existing cashwhere they see their future, their goals owner? reserves to fund that business, ultimatelyand how they expect to achieve them. The benefits of planning are realised ending up with no cash for day-to-day when the owner decides to sell their operations. Our specialists provide asset. Creating a saleable business from solutions and expert advice tailored to an early stage will allow you to work to your needs, ensuring that you stay out of maximise its value at the time of exit. the red.8
    • In or Out? Take Off Maturity Maturity stage Exit option Where to next?You have built your business into what The decision to sell or exit from a Not only do we help to minimise yourit is today. You may then question “what business can be an emotional and tax obligations from the sale but alsoelse do I want to accomplish?” stressful one. For most business owners help you to extract and invest your well Should I seek additional funding to it will represent the culmination of a earned wealth through our transactionexpand overseas? Do I have the drive to lifetime’s work, the payoff for years of support and wealth management services.expand my business into new markets? effort and dedication. We can support Deciding how and where to investHave I achieved my business dream? you throughout the process, from your your wealth can be a daunting task. Through a strategic assessment, we initial decision to resolution. Our independent financial advisors willidentify where your business is and where Ensuring that you sell your business develop an investment strategy tailoredit is likely to go. Collectively we help you to the right owner at the right time and to suit your needs – a strategy that allowsdevelop a clear plan to achieve your goals. for the right value is essential. Exiting you to be in control of your finances. Our unique approach takes into a business needs to be timely and well Time to relax? Time to holiday? Orconsideration tax planning, structuring, planned. We ensure that our clients and time to start a new business venture?financing, working capital management, their businesses are ready emotionally, Whatever your decision, we are herewealth extraction and succession professionally and financially before to help you every step of the way.issues. Critical to the maturity stage is entering into the sale process.succession planning or an exit strategy. Grant Thornton’s experience in Succession planning may not be about grooming a business for sale has helpedimmediate exit, but is designed to prepare secure hundreds of millions of dollars forthe business for a ‘sale’ where you business owners. We make the value ofdetermine the timing. It’s putting in place the business instantly recognisable to athe right mechanisms for the business to potential buyer.run profitably and to increase its value. 9
    • Structure – start as you mean to goIn the business start-up environment, of the individual at marginal tax rates. exit of an existing partner and a newit is easier and relatively inexpensive • the 50% CGT discount can be partnership is created on the inclusionto get the structure right at the start. accessed on the disposal of assets held of an additional partnerThe alternative is to reverse out of an for more than 12 months.existing structure at a later date which • the existence of the business is tied to Trustscould result in additional expenses, the proprietor. A trust is a legal relationship where onecause disruption to the business and party (known as the trustee) holds andis generally a waste of an enterprise’s Partnerships manages property (for example businessresources and time. The most successful A partnership is one of the most popular assets) for the benefit of another partybusinesses are those that are built to grow business structures employed by people or parties (known as the beneficiary).or sell from the start. who own a small business. Partnerships The trustee has control over the trust When deciding on a structure take on the characteristics of the individual and its assets, but must fulfil its fiduciarythe following key issues need to be partners and therefore benefits can include relationship to the beneficiaries.considered: significant tax advantages, flexibility and The trust is established or ‘settled’• control operational ease. Partners can include by the settlor and is governed by the• ownership individuals, companies or trusts. trust deed. The trust deed sets out the• taxation A partnership is defined as a terms and conditions under which the• asset and wealth protection relationship between two or more trust is established and maintained. The• exit options and succession strategies persons or entities carrying on a settlor is independent of the trustee and business with a common view of profit. beneficiaries of the trust.The following provides a brief outline Partnerships are often utilised mostlyof the structures commonly used by by people in professional practice (i.e. Key points include:businesses operating in Australia. Doctors, Lawyers and Accountants). • a trust is not a separate legal entity • the trustee is legally responsible forSole Traders (Sole Proprietors) Key points include: the trust and will enter contracts, ownA sole trader structure is where the • partnerships have greater access to assets and incur liabilities on behalf ofbusiness is legally and beneficially owned funding than sole traders as partners the trustand operated by an individual in their are able to pool their financial • there are many different types ofown name. This structure is simple but resources trusts in existence. Common trustscan be inflexible. • partners are jointly and severally used to hold business assets include: (individually) liable for the debts and − discretionary (family) trustsKey points include: actions of the partnership and this − unit trusts• finance options are limited liability is unlimited. − hybrid trusts• the structure offers no liability • the partnership is established and protection, potentially putting at risk governed by a partnership agreement Each of the above trusts has unique other assets held in the individual’s • partnership profits/losses are shared characteristics, particularly in relation name; which can be minimised by the by the partners and are taxed at the to the distribution of the trust’s income use of the appropriate insurance individual partner level and capital. Regardless of the trust type,• business profits are taxed in the hands • the partnership is terminated on the trusts commonly distribute their income10
    • to their beneficiaries. The treatment of • there is a distinct separation between Tax concessions – expenditure onthe distribution of income is as follows: management (directors) and their research and development (R&D)• undistributed trust income is taxed owners (shareholders). The directors For start-up businesses looking to engage in the hands of the trustee at the top and shareholders can be changed at in eligible research and development marginal tax rate any point in time without creating a activities, a company structure is required• distributed income is taxed at the sale or transfer of the business to access the attractive R&D Tax beneficiary level • companies pay tax at a flat rate Concession. The R&D Tax Concession• discretionary trusts have the ability (currently at 30%) and the 50% CGT is the Australian Government’s main to distribute income to beneficiaries discount is not available for assets incentive to increase research and to maximise differentials in their that they own. (Share sales however development. marginal tax rates may attract the 50% discount The aim of the R&D Tax Concession• losses remain undistributed and are depending on the shareholder). is to make eligible companies more carried forward in the trust and offset • after tax profits are paid out to internationally competitive by against future profits shareholders as dividends, while encouraging innovative products losses are trapped in the company and processes and services and by promotingGenerally, a trust will have an effective offset against any future profits technological advancement and strategiclife of 80 years from the date of • companies have an indefinite life R&D planning.settlement. The trustee can be resigned at R&D is defined to include systematic,any point in time and replaced by a new Each of the above structures has its investigative or experimental activities,trustee, effectively changing control of advantages and disadvantages, and in which involve innovation or high levelsthe trust without an asset sale or transfer. many situations, a combination of these of technical risk, and are carried on for structures is used by start up businesses. the purpose of acquiring new knowledgeCompanies For example - a trust with a corporate or creating new or improved materials,There are two main types of companies: (company) trustee, a partnership of trusts products, devices, processes or services.• Private (proprietary company) or a company whose shares are held by The current R&D Tax Concession – a company with less than 50 a trust. offers a tax deduction of up to 125% of shareholders with shares that can expenditure incurred on R&D activities. not be offered for sale to the general Names and registrations An R&D Tax Offset is also available public. Deciding on the appropriate structure for companies with the required R&D• Public (either listed or unlisted) – is only part of the process. A name for expenditure. a company with shares that can be the new entity and a trading name will It is proposed that the R&D Tax offered to the general public are also need to be determined. The trading Concession and R&D Tax Offset are to uncommon for start up businesses. name will need to be registered with the be replaced by an R&D Tax Credit. For respective state business offices. A name companies with an aggregated annualKey points includes: search is required to be completed with turnover of less than $20 million, a 45%• companies have the most flexible the Australian Securities and Investments refundable tax credit is proposed. For finance options compared to other Commission to ensure that the intended companies with a turnover of over $20 structures names are not already being used or are million the tax credit is proposed to be• funding can be arranged through not too similar to the name of an existing 40% but is not refundable. the issuing of shares (equity in the business. company) or through debt. For start When you start up a business, there is up businesses, lenders may require an obligation to apply for the following director guarantees or external security, registrations: depending on the business’ risk profile • Australian Business Number (ABN)• they are a separate legal entity and • Tax File Number (TFN) therefore have the ability to own • Goods and Services Tax (GST) assets, enter into contracts and incur • Pay As You Go (PAYG) Withholding debts in their own right for businesses with employees• directors are generally excluded from • WorkCover for businesses with liability in meeting the debts of a employees private company • Payroll Tax for businesses with• private companies are regulated employees and significant wage costs by the Australian Securities and Investments Commission (ASIC) in Depending on the nature of the business accordance with the Corporations being conducted, there may be additional Act 2001 registrations required. 11
    • Cash is the oxygen of the businessThe old adage stands – turnover is vanity, To be financially successful, every These days banks are more cautiousprofit is sanity and cash is reality. In good business needs management that and concerned with bad debt and willthe current tough market, everything plans, reviews and adjusts to the changing need greater persuasion to lend you morehas slowed down. For most established environment. money if you need it. The banks willbusinesses debtors pay less quickly, As a business owner you need to be focus increasingly on the quality of theirturnover has fallen, cash from profits has able to: loan book, with a strong emphasis onreduced and banks are less inclined to • have a clear understanding of loan recoverability.lend. In short, cash is limited. It follows, the business’ cash flow cycle and Treat your banker as a partner intherefore, that cash management for a requirements the business. You need your bankerstart-up is of paramount importance. In • be able to quantify and project to believe in you and your product asmost cases, start-ups don’t fail because forward business plans and strategies much as you do. You need to get themthey are not profitable, it’s usually • forecast potential financial impacts of as excited as you are. The reality is youbecause they have run out of cash. decisions need them as part of your team, more The critical issues will relate to your than they need you. So the responsibilityability to conserve and control cash, Forecasting is also a significantly helpful is on you to make it work.and you need to be relentless in your tool in deciding on what finances are Keep them fully informed of whatattention to this. Appropriate credit most suitable for you. is going on and the decisions you areterms should be set. With suppliers they Identifying and understanding the making and give them lots of notice ifshould be as long as possible; with your alternative sources of finance available to you need help. Banks only make moneycustomers as short as possible. There your new business is critically important by lending money – they want you toshould be a strong focus on the key to sustaining its existence, particularly prosper so they can continue to lendmetrics such as debtor days and creditor during the early stages as your new money to your business. Proactivelydays. Stock cycles should be as efficient business aims to establish a firm foothold manage your relationship with them. Theas possible. Before taking on a new in the marketplace. last thing a bank wants is to receive onecustomer, check their credit worthiness The following are financing options week’s notice that you need to doubleand strictly adhere to credit terms by which a business typically considers: your overdraft facility.chasing payments. Resolve issues on any Don’t fall into the trap of thinkinginvoices very quickly as these can cause Banks that it is up to the bank to guide youunwelcome delays. Banks are the traditional source of through any issues or problems. If you Your ability to forecast and budget funding for established businesses. Where talk to your bank early enough, theyyour finances is a crucial step in the banks lend to new businesses, borrowers may work through the problem withstrategic planning of your business. are often required to provide significant you, but be very clear that the ultimate collateral such as security over personal responsibility for resolving any issuesImportance of forecasting assets. Banks may also seek undertakings falls squarely on your shoulders.A thoroughly researched and from borrowers such as bankingcomprehensively prepared forecast covenants. Banks expect to understand Venture Capitalcan provide you with an effective high the business, usually requesting a detailed Venture capital (VC) is the provision oflevel management tool to facilitate business plan, particularly if there are no medium to long-term finance in returnorganisational planning and goal-setting. historical trading figures. for an equity stake in potentially high12
    • growth businesses. 2 TradeStart VC investors are only interested in TradeStart is a national network ofbusinesses with high growth prospects export assistance offices providingthat are managed by experienced and Export Advisors who are wellambitious teams capable of converting versed in the needs of exporters andtheir business proposition into a potential exporters and skilled inprofitable enterprise. matters of international trade. The size of equity stake a VC will TradeStart Managers assist smallwant correlates to the potential risk and medium sized enterprises toand reward of the business. Generally commence exporting or expand exportspeaking, the more advanced the business markets free of charge.idea and the closer to generating revenueit is, the smaller the equity stake as the 3 Early Stage Venture Capitalrisk is being reduced due to credible Limited Partnership (ESVCLP)business success. Start ups may wish to consider an The investment process, from ESVCLP as a venture capital source,reviewing the business plan to actually as these part-Government fundedinvesting in a proposition, can take a VC entities have an appetite for smallerfirm anything from one month to one investments than the VC marketyear but typically it takes between three usually provides.and six months. The VC process is time- Fund Managers registered as anconsuming and will incur some expense. ESVCLP are entitled to flow-throughIt is important, therefore, that it does not tax treatment and its investorsdistract the business and the business (whether resident or non-resident)promoters from their core objectives. receive a complete tax exemption on their share of the fund’s income (bothGovernment programs access revenue and capital).There are a range of generous industryassistance programs offered by various 4 Commercialisation Australialevels of government to promote the Commercialisation Australia is ancompetitiveness, sustainability and Australian Government initiativeprofitability of businesses in Australia. that assists researchers, entrepreneurs The Australian and State and innovative firms turn ideas intoGovernments will also consider the successful commercial ventures.provision of investment incentives to Commercialisation Australia is astrategic investment projects in limited merit based, competitive assistanceand special circumstances where the program that offers:project would generate significant net • Skills and Knowledge support toeconomic and employment benefits for help build the skills, knowledgeAustralia, and the respective states. and connections required to Some examples of programs that we commercialise new ideas. Thisassist our start-up business clients to includes:access include: − Up to $50,000 to pay for1 Export Market Development Grants specialist advice and services (EMDG) − Up to $200,000 over two years 5 Business Development Funds An EMDG grant is a key Australian to assist with the recruitment Most State Governments also Government financial assistance of experienced executives provide funding to small businesses program for aspiring and current • Proof of Concept grants of to support the development of exporters. It encourages small and $50,000 to $250,000 to test the business skills, business planning medium sized Australian businesses commercial viability of a new documentation, benchmarking and to develop export markets and product, process or service. employee training. reimburses up to 50 per cent of • Early Stage Commercialisation expenses incurred on eligible export repayable loans of $250,000 to $2 Grant Thornton will assess the activities promotion activities, above a $10,000 million to develop a new product, of start-up clients to determine where the threshold ($20,000 threshold from process or service to the stage best fit funding options are at both State 2010/11 FY). where it can be taken to market. and Federal levels. 13
    • Systems and information:“manage what you can measure”Facts are friendly A simple off-the-shelf package will • how much cash do you have?Having spent time and effort drawing suffice for most start-ups to enable the • is your cash flow forecasting accurate?up a business plan, it is imperative bank, debtor and creditor position to • are your debtor days increasing or arethat you know how the business is be kept up to date. It will provide the you experiencing high levels of badperforming relative to the plan and the information needed to submit your debt?previously identified key milestones. An Business Activity Statements (BAS) and • are you under pressure from yourinformation system is needed to capture other tax documentation on a timely basis. creditors for payments?this data to enable informed decisions to A good information system will • are your levels of stock increasing?be made. Without the facts any decision generate the figures to produce an actualwill be flawed and over time businesses profit and loss and cash flow for the past Your information system should bebegin to drift as there is no clear direction and project cash flow and profit for the simple and easy to operate. You mayor alignment with the route that should future. It will enable you to answer the need to customise your informationbe taken. following key questions: system depending on the nature of your business and what you see as its important characteristics. Measuring what’s important As part of the business planning process, key milestones would have been identified. It is important to identify Key Performance Indicators (KPI) that will provide feedback as to the progress in achieving these milestones. KPIs are agreed quantifiable measurements that reflect the critical success factors of an organisation. They differ according to the organisation type. Whatever KPIs are selected, they must reflect the organisation’s goals, they must be key to its success and they must be quantifiable (measurable). Typical KPIs include: • number of orders processed • gross margin percentage by product grouping • number of products dispatched • wages as a percentage of turnover • working capital requirement as a percentage of turnover14
    • About Grant ThorntonOur focus is you have hands-on strategic and operational Your keyGrant Thornton has built its name on backgrounds. Working in partnership contactshelping business owners achieve their with business leaders, our role is to assist Please do not hesitate to contactambitions. We develop a close, long-term in: any member of our staff to obtain efficient and expert advice whenrelationship with our clients. We work to • achieving a clear vision of your starting up your own business. Ourunderstand your needs and aspirations strategic goals leaders in each state on services to privately held businesses are:and then tailor our services to meet your • accelerating the building of businessgoals. Our collaborative approach achieves value Brisbane Tony Markwellmaximum results both for the business • ensuring that personal and corporate Ground Floor Grant Thornton Houseand, more importantly, the owner. ambitions are consistent and aligned King George Square You deal directly with our directors. • creating wealth for the stakeholders. 102 Adelaide Street BRISBANE QLD 4000Our vast breadth of technical expertise T 07 3222 0200 F 07 3222 0444means you benefit from our innovative We draw upon other technical specialties E tony.markwell@au.gt.comsolutions. We are passionate about such as tax planning, wealth management Perthgrowing your business. planning and transactions expertise to Gail Curtis As a member of Grant Thornton ensure that every aspect of your business Level 1 10 Kings Park RoadInternational, we have the national and agenda is addressed. WEST PERTH WA 6005 T 08 9480 2000international scope to help you achieve Outsourcing non-mission-critical F 08 9322 7787success, wherever your business may operations is natural. At Grant Thornton E gail.curtis@au.gt.comgrow. we help companies with everything Adelaide We empathise with the anxieties of Dale Ryan from company formation, assurance, tax Level 1starting a business, from the regulatory issues, accounting, to payroll services 67 Greenhill Road WAYVILLE SA 5034red tape through to capital raising. We and much more. You can even outsource T 08 8372 6666also understand the issues and dilemmas your entire finance function to our F 08 8372 6677 E dale.ryan@au.gt.comowners face when exiting a business and skilled staff. Sydneythe many options to be evaluated. We’re When expanding your business, you Bill Shewhere to assist you through every stage, need a professional services firm that Level 17 383 Kent Streetmake life easier for you and help you appreciates close relationships, regular SYDNEY NSW 2000sleep at night. communication and a friendly, easily T 02 8297 2400 F 02 9299 4445 We have a team of commercially accessible service from your business E bill.shew@au.gt.comexperienced individuals, many of whom advisers. Melbourne Michael Pittendrigh Level 2 215 Spring Street Further reading MELBOURNE VIC 3000 • Australian Business Register – www.abr.gov.au T 03 8663 6000 F 03 8663 6333 • Australian Stock Market – www.asx.com.au E michael.pittendrigh@au.gt.com • ASIC – www.asic.gov.au • ATO – www.ato.gov.au • Tradestart – www.austrade.gov.au • Grant Thornton – Business Owner Blogs – blog.grantthornton.com.au 15
    • If you want to know more, please contact us...Adelaide Melbourne SydneyLevel 1 Level 2 Level 1767 Greenhill Road 215 Spring Street 383 Kent StreetWayville SA 5034 Melbourne VIC 3000 Sydney NSW 2000T 08 8372 6666 T 03 8663 6000 T 02 8297 2400F 08 8372 6677 F 03 8663 6333 F 02 9299 4445E info.sa@au.gt.com E info.vic@au.gt.com E info.nsw@au.gt.comBrisbane PerthGround Floor Level 1Grant Thornton House 10 Kings Park RoadKing George Square West Perth WA 6005102 Adelaide Street T 08 9480 2000Brisbane QLD 4000 F 08 9322 7787T 07 3222 0200 E info.wa@au.gt.comF 07 3222 0444E info.qld@au.gt.comwww.grantthornton.com.auGrant Thornton Australia Limited is a member firm within Grant Thornton International Ltd. Grant Thornton International Ltd and the memberfirms are not a worldwide partnership. Grant Thornton Australia Limited, together with its subsidiaries and related entities, delivers itsservices independently in Australia. Liability limited by a scheme approved under Professional Standards Legislation.