Business Start-Ups & Structures

Business Start-Ups & Structures

Financing is one of the essential aspects for any business to embrace to generate successful plans and strategies. When you have a clear vision of your account and paychecks, you build a better strategy and structure for your business. Accounting for startups encompasses examining your finances and accurate records of financial transactions.

Choosing your business structure is an important decision and we can advise you on the best structure for your requirements. There are four main business structures commonly used by small businesses in Australia and we can help with them all:

Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.
Company: a legal entity separate from its shareholders.
Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, require the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.

It is important to note that you can change your business structure throughout the life of your business.

We can help with the following:

  • Corporate Structures
  • Corporate compliance
    • Formation of trusts and new company registrations
    • Provision of registered office services for service of notices
    • Attending to ASIC returns and regular filings on your behalf
    • Business name registrations and maintenance
    • Preparing minutes and drafting resolutions

Currently, we are providing FREE 30 minutes tax consultation. You can book it through our website at www.progressca.com.au or call us on 0403050779. Do not hesitate. Contact us now by booking your first consultation today!