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    The 3-Step Annual Business Plan Process [infographic]

    Posted by James Price | JPAbusiness on 26-Jul-2017 05:00:00

    Step one in the business planning process is to simply overcome the notion that planning is not critical to your business – it is!

    Business plans don't need to be weighty documents, but they do need to be:

    • referenced regularly,
    • shared with others, and 
    • pressure tested.

    The following graphic illustrates the 3 fundamental components of an annual business planning process.

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    Topics: Advice, Business Planning, Running your business, infographic, Starting a business

    Should I use my redundancy payout to buy a business?

    Posted by James Price | JPAbusiness on 05-Apr-2017 05:53:00

     

    Often we come across clients who have been made redundant after a long period in an employed situation. 

    They are at an age where they still have plenty of potential to make a meaningful contribution in another employed role, or in owning a business. In fact, some of the expertise they have built up over their career is very appropriate for owning and running their own business.

    However there are some pitfalls:

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    Topics: Buying a business, Advice, Starting a business, Financial

    5 first steps to buying or starting a business (infographic)

    Posted by James Price | JPAbusiness on 05-Apr-2017 05:47:00

     

    Owning your own business can be one of the most rewarding things you will ever do, but it can also be one of the most challenging.

    If you’re considering buying or starting your own business, take a look at the following infographic for some first steps to guide your early decision making.

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    Topics: Buying a business, Advice, infographic, Starting a business

    The pros and cons of business trusts [infographic]

    Posted by James Price | JPAbusiness on 18-Nov-2016 05:49:00

    Trusts are a very popular structure for owning and operating businesses, particularly where there are multiple business partners and significant tangible assets associated with the private business, along with the going concern trading business.

    The popularity of trusts among business owners relates to benefits associated with asset protection and income distribution, among other things.

    All types of trusts have the same essential structure, with minor variations in their rules (i.e. trust deed) to distinguish the trust and allow it to perform different functions.

    The infographic below sets out the essential structure of a trust, along with the key pros and cons of this type of business structure.

    Continue reading...

    Topics: Buying a business, Advice, Business Structures, Starting a business

    Pros and cons of a company structure [infographic]

    Posted by James Price | JPAbusiness on 09-Nov-2016 05:46:00

    Companies are very popular business structures and offer a number of advantages over Sole Trader and Partnership structures, particularly in the areas of asset protection and finance raising.

    However they are also more complex structures, and cost more to set up and administer.

    This week’s infographic takes a look at Companies: their key features, pros and cons.

    Next week we’ll bring you the final in our Business Structure infographic series: Trusts.

    Continue reading...

    Topics: Buying a business, Advice, Family business, Business Structures, Starting a business

    How to avoid real estate traps when buying or selling businesses [cartoon]

    Posted by James Price | JPAbusiness on 04-Nov-2016 05:20:00

    Businesses – particularly family businesses – often use real estate assets as part of their wealth generation strategy.

    This may lead to situations where the business and real estate assets are interdependent, creating complexities when it comes time to exit and establish a fair market valuation.

    Continue reading...

    Topics: Business Value, Buying a business, Selling your business, Advice, Valuations, Family business, Starting a business

    Why set up a partnership? [infographic]

    Posted by James Price | JPAbusiness on 02-Nov-2016 04:01:00

    As we mentioned last week, we have created a series of infographics to illustrate the pros and cons of different business structures.

    Last week we examined the Sole Trader structure.

    This week’s infographic takes a look at Partnerships: their key features, pros and cons.

    Continue reading...

    Topics: Advice, Business Structures, Starting a business

    How to choose the right business structure [infographic]

    Posted by James Price | JPAbusiness on 26-Oct-2016 03:00:00

    There is generally no perfect structure that covers all wish-list items for a given business structure proposal, so the goal is to achieve a structure of ‘best fit’ for your business.

    We are creating a series of infographics to illustrate the pros and cons of four common business structures: Sole Trader, Partnership, Company and Trust.

    First up is the Sole Trader infographic – keep an eye out for the others, which will be published over the next three weeks.

    Continue reading...

    Topics: Buying a business, Advice, Business Planning, Business Structures, Starting a business

    How to start a business [cartoon]

    Posted by James Price | JPAbusiness on 14-Oct-2016 04:23:00

    Many businesses start life as 'side projects'.

    The business may start out by testing a product or service in the market, while the owner continues to generate a more reliable income through third-party employment.

    In the excitement of pursuing the transformation of this passion or great idea into a business, some of the crucial and oft-perceived 'less exciting' aspects of starting a business can be overlooked. These may include:

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    Topics: Buying a business, Family business, Starting a business

    5 first steps to business ownership [infographic]

    Posted by James Price | JPAbusiness on 28-Sep-2016 03:00:00

    Owning your own business can be very rewarding, both professionally and personally. Business ownership provides a range of opportunities, from actual to perceived, including:

    Continue reading...

    Topics: Buying a business, Advice, Starting a business

     
    Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
     
     

     

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