New Business Accountant New Zealand
Starting a new business? Our experience with new business accounting will set your business on the right track!
Whether you are starting a business from scratch, or buying an existing business. It is a huge undertaking psychological, socially and financially.
Call Gerard on 09 266 8379 for your free initial 30 min appointment about your new venture, or click here to contact us
When buying a business it is a good idea to involve an accountant in your Due Diligence period: An experienced business accountant form anb opinion on weather the accounts look fair and reasonable. We can also help you with a business acquisition due diligence checklist.
It is a reported 2017 statistic from the ANZ Bank at its “BIZ Hub” Training seminars that 89% of businesses fail in the first year. This is a startling statistic. Businesses don’t succeed for many many reasons.
The flip side of this is that 11% percent of businesses do succeed and make a huge difference in the owner’s and their families and customer’s lives.
Successful businesses have a huge positive effect on the community and the world.
The question to ask is what are the 11% of the people doing that do succeed?
We at Citywide Accountants aim to help you along the path to success, help you work out a (financial) strategy and sustainable growth plans and projections.
It is important to ensure that you are well informed and equipped with all the tools you need to assist in a smooth start.
There are a number of links and resources available to help you research and plan for a potential business venture.
Most banks and government agencies have web pages dedicated to NZ New business start-up assistance.
Take time to view the ANZ Biz Hub website. They have valuable free seminars for ANZ business customers. The seminars are full of information and great place to start.
Call us now on 09 266 8379 to discuss your new business accounting questions.
Questions to Consider:
Once you are ready to start a business it can be hard to know where to begin, and to know what the best options are. Most of the time the right setup from the start will save you in the long run.
It is good to think about:
- What type of business structure am going to choose; Sole trader, Company, Trust, or a more complicated structure combining them? This choice will always be a trade-off between cost, tax reduction and asset protection.
- What tax structure do I choose and what are the implications on gst, PAYE and income tax.
- What steps are involved forming a company. Do I need an accountant or solicitor?
- How do I keep track of my financials? What about bank accounts? Do need an accounting package?
- Do I need assistance? A business coach?
- Do I need to join Chamber of commerce, a professional organisation or a business group?
- Is a franchise a good way to start for myself and what do I have to pay attention to with franchises?
Starting Business Accounting
At Citywide Accountants we will work with you to form the most suitable business structure to meet your needs at the best possible cost.
- We can provide you with the ideas and tools to help ensure that you meet all your tax and legal obligations in practical and helpful manner.
- We can assist you in finding a good accounting package to fit your needs and budget.
- We will also provide you with some training to get you started.
- ted on the software and how to gain the most from the chosen system to benefit you and your business.
- We are also here to help with feasibility, business growth and planning.
If you are buying an existing business, it is good to seek advice as to whether it is a worthwhile venture to purchase and if the price is reasonable.
Please make sure you have an adequate due diligence period to consult with your industry specialists, solicitor and accountant to verify the business information handed to you.
Our accountants are here to provide you with advice and help understand and interpret the financial reports to provide an insight as to the business’ financial viability.
Long term Assistance and guidance:
- Regular Financial reviews are very important. What gets measured gets actioned!
- Key performance indicators give an idea how you are doing and guide in decisions for investing, spending and business direction.
- Cashflow and cashflow prediction is a fundamentsal and important part of business management.
At Citywide Accountants we would love to be part of your new venture:
Click here to contact us or call 09 266 8379 for your free initial 30 min appointment