Most business owners are multi-taskers; skilled and highly knowledgeable in their own business. Some business owners are so accustomed to doing almost everything themselves that they wouldn’t ever consider using a business advisor. However, engaging the help a professional advisor allows the business owner to receive critical input from someone external to the business to ask the hard questions.
Every business owner has a different idea of success and with this comes different goals. For some, success may mean having outlets across Australia. For others it may be having a business they can pass to the children or making a certain amount of profit. Every business is different, and every business owner is different. It does not matter what stage your business is at, a professional advisor can make a meaningful difference. By helping you identifying your business goals they will help plan your path to success.
Key areas a business advisor can assist are:
Business planning, financial forecasting and measuring key indicators are vital to keep up-to-date with your financial performance. Is your business performing as you expected? If not, what needs to be done to improve your performance?
Business Sales, Mergers and Acquisitions
Buying or selling a business can be a complicated process and it is critical to get the right advice to maximise your return.
Do you know the true worth of your business? Is it what you expected? What can you do to improve the value of your business?
Structuring and Restructuring
What is the right structure for you at the time of starting your business? This structure may need to be re-visited during the life of your business e.g. asset protection, expansion, outside equity.
Succession and Estate Planning
Are you hoping to pass your business on to a family member? How will this transition occur? Is the proposed successor ready to accept the responsibility?
If your business is having financial difficulties it is imperative that these difficulties are identified early so that prompt action can be taken.
Having a strategic plan is critical for business owners to identify the purpose, goals and direction of their business. This allows stakeholders and employees to all be moving in one direction.
By taking care of the usual accounting and tax compliance matters, you may think of your Accru accountant as someone who provides you every day peace of mind. However, the real value in your Accru accountant lies in the ability for them to help you address your business challenges and uncover opportunities through business advisory services.
Have more questions about how a Business Advisor can help your business, contact your local office and speak to an Accru specialist today.