Starting a Business: Get the Right Advice
There are many things to consider when starting or buying a business:
What entity structure is best suited for my circumstances?
How do I protect the assets I already have?
Is the business I am going to buy a profitable business?
Can I make it better?
What are the risks involved in going into business?
What are the costs?
Can I borrow money to fund my start-up or to buy an existing business?
There is a lot to think about, and this is only the tip of the iceberg.
Keep in mind that most new businesses fail in the first 2 years of trading.
This could be due to many reasons, but one of the most common is that the owner did not take the time to get the right advice.
Why would you not discuss this with a professional?
Too often people do not want to spend the money securing proper business advice.
It often ends up costing them tens of thousands of dollars extra, sometimes even their home, when it all could have been avoided with the right advice from a professional accountant, who is trained and experienced in providing business advice.
The process of starting or buying a business creates enough doubt in your mind as it is, so going to a professional who does this every day could mean the difference between a successful business, and a lemon.