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Business Consulting
Business owners must have ambition and goals of success and accomplishment. At McKinley Plowman we understand this, so our specialised business accountants offer FREE consultations for business owners who want to learn how to reach their short and long-term goals, no matter how simple or ambitious.
To take advantage of this incredible offer and speak to a business consultant in Perth, simply fill in the form below and we’ll be in touch.
We understand that business owners aim to increase profits and minimise tax. When collaborating with McKinley Plowman, your dedicated business consultant in Joondalup or Perth will strategically assist to make these goals a reality.
Other business aims may be smaller but not less important. First-time business owners can relax knowing that the McKinley Plowman team of business consultants in Perth understand running a business is hard work. We can assist in setting up your business and create a successful business structure that works for you.
Our team of Certified Planning Accountants, business improvement specialists, financial planners and finance brokers are here to help you turn your business into a powerhouse performer. As mentioned, we are offering this service for FREE.
To take advantage of this incredible offer, simply fill in the form below and we’ll be in touch.
We can help you with all aspects of your business and want to understand your particular needs, so please feel free to set the agenda. But to get the conversation started, below are just a few of the big ticket items that you may require help with.
Your business should apply the same level of strategic rigour that is used by the world’s leading companies. No matter how big or small your business, it’s imperative that you develop the market-leading frame of mind and business supporting processes to catapult your business to full potential. By leveraging strategic business thinking and actionable business plans, you can benefit from higher growth, bigger profits and enhanced clarity and control over the future of your business. You will develop a more valuable and profitable business that people would love to buy – thereby maximising your sale value!
We can help you go beyond just crunching the numbers and will focus on being your trusted advisory partner to support you in reaching your goals. Our enthusiastic team of CPA will help you boost growth, increase profitability and minimise tax through our specialist advice and innovative service. We can help you optimise your business to deal with everything from cash flow management, reporting, benchmarking, projections, financial modelling, feasibility studies, business planning and tax services. Whether you’re running a large corporation or a sole trader venture, we can help you to maximise your business value, both now and into the future.
Tap into our extensive business tax experience and have your business tax returns handled by our highly experienced and capable team. We’ll provide you with tax minimisation strategies tailored to your unique business circumstances, allowing you to maximise profits and reinvest the savings back into your business. With specialised experience in all areas of taxation, our valued business clients include sole traders, partnerships, trust accounts and corporations. No matter how big or small your operation, your taxation needs will be solved with the same care and attention we bring to our own business.
Business Finance
If you’re seeking finance to fund your business growth aspirations or meet your cash flow requirements, then McKinley Plowman is here to help. Our head finance partner, Paul Moran, leads a team of solution-oriented and accredited MFAA finance brokers. You can get access to over 30 lenders for all your business finance requirements, including everything from business loans to vehicle and equipment finance, debtor finance, commercial loans and insurance premium funding. Importantly, we make sure that your business finance solution is also aligned with your wider business objectives. Our innovative and competitive tendering process will even get the banks competing for your business. You won’t just get the finance – you’ll get the best deal.
Business Structures
To build your business with strong foundations it’s critical to utilise the optimal business structure for your needs. The right business structure will mean you’re well-equipped to deal with the challenges of business, enabling you to protect your assets, minimise your tax and maximise your profits. Each different type of business structure comes with its own financial, legal and taxation implications, so it’s critical that you understand the advantages and disadvantages of each. The decision about what structure is right for you must be borne out of your particular circumstances. The aim will be to craft a structure that carries your business safely forward and sets you up for future success. If you don’t have the right structure in place, then your assets may be at risk and you may find yourself paying far more income tax or capital gains tax than required.
Business Tax Planning
Tax planning allows you to take control of the taxation process and develop strategies to minimise your tax. Firstly, we help you to develop an understanding of the estimated tax payable based on your current trajectory; it’s important to do this in advance before the end of the FY so that there’s enough time left to make some effective changes. Secondly, we work with you to develop tax planning options and craft business strategies to simultaneously help save on your tax obligations and also build business value. What’s more, the whole process also gives you insight into your projected circumstances so that you can plan your business with the confidence of knowing what the future holds.
Buying a Business and Due Diligence
If you’re planning on buying a business then you’re about to launch into a world that’s full of opportunity. But it’s not all easy sailing – it can be very risky – which is where we come in. McKinley Plowman can leverage our full suite of professional experience to help you evaluate your purchasing decision and facilitate a positive transaction. We’ll help you with due diligence by preparing a full view of the business, with everything from market research to operational reviews, evaluation of liabilities, financial analysis, competitive analysis and projections for future performance. If everything stacks up, then we can help you with the negotiation process, legal contracts and agreements, financing solutions, business structures and the establishment of effective systems and processes to help you run a highly efficient operation and maximise growth. In short, if you’re looking to buy a business, then we’ve got all your bases covered.
Starting a Business
If you’re in the process of starting a business then you’re about to begin an incredible journey. To maximise your prospects for success, it’s important to put the right foot forward from the get-go. This includes establishing a well-designed business structure, creating frameworks for ongoing business improvement and putting in place tailored succession plans. We can also help you navigate the initial registration procedures, including helping with your initial legal requirements, as well as the registration of business names, trademarks, companies and trusts. Once you’re up and running, we can assist with your ongoing compliance requirements, including annual tax returns and ASIC lodgements. With the help of McKinley Plowman’s experienced team, you can start your business quickly, efficiently, safely and cost-effectively.
Chief Financial Officers
Your business can benefit from getting access to a blue-chip, outsourced Chief Financial Officer through our innovative cfo2go service. With a full-time focus and a part-time cost, you get access to specialist financial expertise without the cost of hiring a full-time chief financial officer in-house. We can help your business excel, through driving efficiency, innovation and business growth. The cfo2go professional framework draws upon our accounting, financial planning, finance broking and business improvement capabilities to help you achieve your core goals. Your new CFO’s role can include mentoring, review of your business structure and operations, developing business plans, implementation and management, as well as financial, tax, succession and scenario planning. Whichever stage of business you’re at, cfo2go will help you be your best.
Strategic Management and Advisory Boards
McKinley Plowman can then help you improve business performance even further through specialised strategic management services. We work closely with you to increase performance across an even broader range of areas, including customer relations, marketing and stakeholder management. You will crystallise your vision for the business, devise actionable objectives and develop a strategy to help you create sustainable competitive advantage. What’s more, we can then help you turn recommendations into actions by providing you with the framework to get things done.
We can run a confidential Team Advisory Board with your team members to discover what they like and dislike about the business, and to hear their ideas on how you can operate an even better business and deliver more efficient service to your clients. The information that flows from these sessions always produces valuable information and provides a safe forum for your team to be heard, acknowledged and contribute to your ongoing success. Importantly, the team then have increased buy-in and knowledge of what you are trying to achieve, and more desire to help you get there!
Our thorough strategic planning sessions for business owners will provide a practical framework, including set agendas and a clear focus for your board of directors to ensure your meetings result in action plans with smart criteria, rather than roundabout talk-fests. By leveraging our strategic management and advisory board services you can stay focussed on your goals, achieve strong commercial growth and realise your maximum potential. It’s big business thinking at small business cost.
Financial Statements and Projections
McKinley Plowman can also help with preparing your financial statements to provide further critical business insight, as well as meeting your Australian accounting standards compliance requirements. To provide you with even more actionable information, we can use leading edge forecasting software to create a series of ‘what if’ scenarios, equipping you with the insight you need to evaluate potential outcomes and develop appropriate action plans. Even at the most basic level, it’s incredibly valuable to see how your budget estimates compare to your forecasted profit and loss, balance sheet, cash flow, ratios and statistics. With this level of business awareness you’ll be well-armed to tackle future business challenges and capitalise upon your opportunities.
KPIs and Industry Benchmarking
It’s crucial that you go beyond counting the numbers to investigate and understand the root drivers of your business and profit circumstances. We’ll help you develop and measure your core KPIs, both financial and non-financial, to provide you with key insight into the factors that are driving your success or constraining your growth. We can then take this even further by helping you access and utilise the leading industry benchmarking statistics, enabling you to understand how your business is placed, perform SWOT analysis and grow your market share. Having this information and knowing how to use it will set you up for competitive success.
To realise the full value of your business investment and minimise the risk of future complications it’s vital that you establish the groundwork now. How will you make sure that your family and other stakeholders are protected should the unforeseen occur? What are the goals and aspirations of your potential buyers? How will an exit impact on your personal finances and tax affairs? What can be done to maximise the value of your business? There’s a lot to consider, and the implications can be significant, so it’s essential to be well-prepared. Whether you’re planning to exit through a trade sale or IPO, or if you’re planning to handover to your family or another internal successor, exit planning positions you for a winning transition.
Whatever your requirements, we’d love to help. To run a successful business you need a group of dedicated and enthusiastic people behind you. You can rest assured that with McKinley Plowman you will be supported by a trusted team of professionals who are invested in your success. Moreover, with a full spectrum of personal wealth creation, taxation, finance, property investment, retirement planning, and even migration services, McKinley Plowman has the solutions you need to drive personal success for both you and your family.
We’re offering a FREE initial business consultation for all business owners to help answer your questions and position your business for success.
To schedule your free initial consultation with our business consultants in Joondalup or Perth, please fill out the form below and we’ll be in touch.