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Buying a Business


Buying or starting a business should always be seen as one of the major investments of your life; a major investment of your time, money, and lifestyle.
 
Doesn't it make sense to get professional advice with helping you choose the right business for you, paying the right price, protecting yourself from the major pitfalls, and protecting your personal assets like your home from business risks as much as possible?

The major reason why businesses fail, or never pay back to the owner any more than a weekly wage (at a low hourly rate), is a lack of management expertise. Kennas can help you

  • Decide on the most suitable structure for your business - sole trader, partnership, trust or company
  • Prepare a business plan, cashflow projections, budgets, and trading forecasts
  • Evaluate if the purchase price is reasonable
  • Consider GST and income tax issues on purchase
  • Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
  • Complete any taxation registration procedures including ABN, GST, and employer
  • Set up a recording system for helping manage your business and for complying with statutory requirements
  • Train you in financial management best practice for your business.

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SELLING YOUR BUSINESS

Your business is one of the major assets you will own, and often it may fund your retirement as well. It is imperative your business is in the best shape possible to make sure you receive the highest price possible when you decide to sell. You may also have a large capital gain on the sale of your business, which could result in a very large tax bill if you don't receive good advice. Kennas can help you with a range of issues when you are selling your business including

  • Preparing your business for sale to achieve the highest sale price
  • Marketing your business
  • Help you determine a sale price
  • Considering various aspects of the sale including employees and goodwill
  • Minimising tax and GST payable on the sale of your business

                   
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Contact Kennas Today!