We Love Business Startups - You have Passion and Drive! Here Are Your Top Tips From Your Startup Accounting Specialist
As a business start up specialist we have the accounting, bookkeeping & business skills to help your Small Business Startup grow & thrive in today’s market. As you can tell at QC Accountants Gold Coast, being 1 of the best Gold Coast accounting firms, we are passionate about helping Startups, which is why we offer a free consultation for all StartUp accounting. Contact us on (07) 5593 6065 or schedule your free consultation direct today.
Here are 5 things we recommend every Small Business Startup should do in the initial stages:
Write a Business Plan
A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals. It will challenge business owners to identify who the business’ customers, competitions, risks and opportunities are. All of which should assist you to navigate the short term, medium term & long term objectives. We recommend using the simple template provided by the Federal Government of Australia. This file can be downloaded here.
Decide on what type of business structure is right for you
There are a number of structures that you can choose from when starting your business, each with different responsibilities and benefits. Choosing the right structure before your business is operational can save you a large amount of hassle and headaches – but don’t worry, we are here to help you, every step of the way. Allow us to chat with you about which of these options is best suited to your business, your asset & personal needs.
Ensure you have the right government registrations
Depending on the type of business that you are operating & entity that you decide to operate out of, there are a number of different registrations that you may need to apply for. QC Accountants will advise you on the registrations that you may need & we will help you apply for these, where we can.
We can discuss this with you in our initial free consultation.
Setting up the correct business bank accounts
While it may seem simple, it is important to correctly separate your business and personal banking transactions. A good banking setup will assist you (and us) to easily keep track of how your business is performing. It also makes it easy for banks, ATO & us to identify what is personal & what is business related. We can help you understand how your business & personal bank accounts work together and guide you how to go about it.
Decide how you are going to prepare your bookkeeping
As a business startup accountant allow us to assist you to decide how you are going to record your business income & expenses. If you need to use online accounting software like Xero or Quickbooks Online, or if a simple Microsoft Excel spreadsheet will do the job in the meantime. If you need to record & pay employees, we can guide or train you how to setup and maintain your employee files.