Owning your own business can be very rewarding, both professionally and personally, but it’s not all beer and skittles!
As a business owner you take on a lot of risk, you rarely get a mental break – especially in the early days – and you may have to get used to unpredictable earnings.
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.
Topics: Buying a business, Advice, infographic, Starting a business, Business advisor, Parramatta, Orange NSW
A few months back we published a blog about how to conduct annual performance reviews for senior staff.
Topics: staff management, business advice, Business advisor, staff performance, performance review, Parramatta, Orange NSW, managing employees
In our experience dealing with clients over the years, we've found many businesses start as side projects.
In this video, James tells the story of a client whose 'side project' became a multi-million dollar transport business.
He also points out some risks to watch out for regarding business governance, structure and process issues when a business starts this way, and how to ensure they don't negatively impact the business' value down the track, when it comes time to exit.
Topics: Business Value, Family business, Business Structures, Video, business advice, Business advisor, Governance, Parramatta, Orange NSW
Due diligence is ‘the process of acquiring objective and reliable information on a … company as required, especially before a commercial acquisition’ [Macquarie Dictionary].
At JPAbusiness we regularly undertake due diligence for business-buying clients. The process involves checking and verifying information relating to the basic operations and performance of the business our client is considering buying.
Our role is to identify risks and issues, plus any material differences between what has been represented in information previously provided on the business, and what we identify in the due diligence process.
Topics: Buying a business, Due diligence, Template, Checklist, business advice, eBook, Business advisor, business basics, Parramatta, Orange NSW, free resources
No one knows your business like you do and, whether you choose to sell it yourself or work with a broker or advisor, you will play a key role in the marketing process.
Your extensive knowledge of the business needs to be translated into marketing material that will inform potential purchasers of the opportunity your business presents.
The following video contains 4 key tips for marketing a business for sale: what they are and how they can contribute to the ultimate success of a sale.
Topics: Selling your business, Advice, Brand and marketing, Video, selling a business, Business advisor, Parramatta, Orange NSW, marketing
Business valuation is not an exact science and nor is it a simple science. However there are some factors you should always consider when assessing a business’ value.
The following video lists 3 key factors to consider when valuing a business and 3 questions you need to ask to uncover this important information.
Topics: Business Value, Advice, BME, Video, business advice, Business valuation, Business advisor, Business maintainable earnings, Parramatta, Orange NSW
Small Business Capital Gains Tax (CGT) Concessions can provide generous and attractive concessions for small business, and the structure of your sale transaction may impact whether or not you qualify for the concessions.
However, you must obtain advice from a CGT specialist to ensure the structure you choose is not deemed to be tax avoidance. Remember, tax minimisation is legal – tax avoidance is not.
The following blog is an excerpt from our updated CGT eBook, Capital Gains Tax 2.0 – Issues to consider when selling your business.
Topics: Selling your business, Advice, Tax, Capital gains tax, eBook, Business advisor, Parramatta, Orange NSW, CGT
In 2014 we published an eBook titled Capital Gains Tax – Issues to consider when selling a small to mid-sized business. This eBook drew on extensive experience, including that of our guest contributor Michael Pisani, partner at Chapman Eastway, and remains one of our most popular publications to date.
Given the far-reaching scope of Capital Gains Tax (CGT) and the ever-evolving nature of taxation laws, in 2017 we released Capital Gains Tax 2.0 – Issues to consider when selling your business. The new eBook did not replace the original, but instead complemented it.
Over the past few months, the JPAbusiness team has been reviewing and updating the information in both eBooks, to reflect the most recent changes in Australian tax policy.
Topics: Selling your business, Advice, Capital gains tax, selling a business, Business advisor, tax minimisation, Parramatta, Orange NSW, CGT
When we started JPAbusiness about 18 years ago, one of the first diagnostic services we offered business advisory clients was to conduct a Business Health Check.
The aim was to uncover performance-impacting issues in our clients' businesses that weren’t obvious to them and, sometimes, not even remotely on their radar.
And that’s what our Business Health Check template is all about: helping you as a business owner and manager be honest about how your business is performing.
Topics: Template, business advice, Business advisor, Business health check, small business, Parramatta, Orange NSW
This blog comes from our eBook Surfer Dudes, Janitors and the Ritz Carlton, featuring California-based management consultant Kevin Catlin from Insight Strategies, Inc.
KEVIN: The great leaders truly care about their people as much as they care about the output their people produce.
The most astute leaders, in my opinion, understand something that seems a little counterintuitive, and that is that if you’re checking daily on the output of your company – on what it is ‘doing’ – then you’re wasting time.
What you’re company is ‘doing’ is really a lagging indicator of what you’re people are capable of.
Topics: staff management, business advice, Business advisor, Business culture, leadership, Parramatta, Orange NSW, team building
