When setting up a new business in Mandurah, you need to know you have everything right – mistakes in the process of setting up a new business can be time consuming and costly to fix, taking away time you should be spending on your new business. At Ashok Parekh & Co, we’ve helped hundreds of new businesses successfully navigate the set-up process across a range of industries.
Setting up a new business takes time and careful planning. When you choose the Ashok Parekh team in Mandurah, we’ll invite you into our office for a tea or coffee, and spend some time getting to know you, your intended business and your goals and plans. From this, we will then recommended the appropriate structure for you to operate under, and explain the benefits.
Once we have been through the process of sorting out the structure your business will run under, we will then assist with business registration and compliance through the various government bodies including ASIC and the ATO.
For those buying businesses, we can also assist you with due diligence auditing to ensure your purchase is financially viable.
New Business Set Up Structures
There are a number of business structures available for business owners to run their business under and they all have their own benefits including tax minimisation, keeping compliance costs low, reducing risks and protecting assets.
Sole Trader – a business that is owned and run by one person where there is no legal distinction between the owner and the business entity.
Partnership – a business that is owned and run by two or more entities, who have agreed to cooperate to the benefit of their mutual interests.
Trust – a structure whereby a trustee runs the business on behalf of the trust’s members or beneficiaries.
Company – a separate legal entity who has the same rights as a natural person. The company can incur debt, sue and be sued while the company’s owners can limit personal liability.
Joint Venture – an agreement between two or more parties to work toward a common commercial goal or project, sharing the proceeds. Parties to a joint venture maintain their status as separate entities and the joint venture typical ends when the goal is achieved. Mostly used within property development, mining and research and development.
Setting up a new business in Mandurah doesn’t need to be stressful. With the team at Ashok Parekh & Co on your side, we’ll make sure you have a solid understanding of your business structure and what it means for you and your compliance responsibilities.
If you’re looking for an experienced and professional accounting team for your new business, we’d love to meet you and have a chat about your business plans. Organise your free consult with our Mandurah team and see what we can offer you.
Speak to us to book your appointment today (08) 6168 2448 or Book Online Now