Starting a business & registration
Starting a business in Geelong, or anywhere for that matter, is a big step for any individual or group. It involves a great deal of planning, work and commitment to make a success of your endeavour, and at the outset it is important to get expert advice when setting up a business.
The structure of your business is often overlooked as the excitement rides on the product or service you are wanting to bring to the market. However, your business structure is central to asset protection, your taxation liabilities, ongoing costs and the minimisation of any future liabilities. Advice for starting a small business is our Geelong accountants’ expertise and they will discuss the benefits, pitfalls and responsibilities that go with the various structures – sole trader, partnership, trust or company. There are costs and risks with each legal structure and they are all quite different.
When starting up a business on a large scale or starting up a small business, we would look at the number of people involved in the enterprise, whether you will be hiring staff or looking to involve other partners, what kind of business you are starting, the amount of income it will bring in and the plans for growth.
Once the business structure has been determined, there are simple issues during the start-up phase that we can assist you with. These include ABN, ACN, GST and TFN registration and if you are employing staff there are HR issues such as the necessity to register for WorkCover and the Superannuation Guarantee.
Starting a new business is an exciting time. Ensure you get going on the right track with targeted and expert advice from the passionate and experienced accountants Geelong businesses look to. We know that there is no “one size fits all” approach and we spend time with you to determine the approach that best suits you and your business. Contact CD&G Accountants and take advantage of our extensive accounting services, including BAS lodgement, company secretarial services and tax and GST compliance.