Get Your Business Set Up Right with Melbourne's Leading Accounting Experts
One of the most important decisions you’ll have to make when starting a business is choosing the right legal structure. A business structure is your business' foundation so it pays to make considered and informed decisions when setting up. Our Chartered Accounting experts will help you understand your options and provide advice on the most appropriate structure, whether it be sole trader, partnership, company or trust.
Business registrations are one of the many responsibilities involved in keeping your business compliant. However, if you’re new to small business or your industry, it can be hard to understand all the ATO and ASIC obligations and requirements that you’re expected to carry out. With Elephant Advisory’s accounting team, we’ll make sure all your key registrations and regulations are met on time, so you don’t have to.
Business owners who don’t look into asset protection could find their personal assets, such as family properties, at risk during any possible litigation. With our business set up help, you’ll be able to protect the hard-earned fruits of your labour.
At Elephant Advisory, the accounting software platform we use and recommend is Xero. If you’re not familiar with Xero’s platform; don’t worry, we’ll bring you up to speed. We offer assistance and advice with setting up your bank account, Single Touch Payroll and chart of accounts. We’ll also help migrate any previous information during the financial year or previous financial years and provide training on using Xero while you’re learning the ropes.
When your budget is tight, weighing up what parts of your business to outsource can be a tough decision. In this article, we’ll outline what some of the best processes to outsource are, and how to improve the efficiency and productivity of your small business.
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"As a business owner, having the ability to identify and address problems before they become critical offers a significant advantage. In this article, we'll outline the top five reasons behind small business failures, including how to recognise them and what steps are needed to avoid them."
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Starting a new business is a dream come true for many aspiring entrepreneurs. Being your own boss offers the potential for financial freedom and increased earning potential. However, it's important to keep in mind that the rewards of owning a business come with their own set of challenges.
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