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Business Plan & Structure
Asking the right questions at the beginning of your business journey is important as it shapes the path you’ll be taking. You should be building out your business plan to reflect how you want your business to look in the next 5-10 years, and then building the structure to support that.
Keep in mind that your business plan isn’t something you just do once and never look at again. You should be reviewing it as you progress through your journey to ensure it’s still serving the desired purpose.
If you want multiple sites, equitable partners, or to do Research & Development (R&D), you need to be set up correctly to facilitate these goals. Changing your structure down the line can cause complications, additional tax and a significant amount of extra administration.
These are all headaches you don’t need as they will take your focus away from growing your business.
How Carbon can help you
We can provide advice on the best business plan and structure for your business, both where you are now and how you plan to grow.
- Minimise income tax
- Maximise asset protection
- Allow for the addition of new business partners or investors.
- Ensure compliance with all legal requirements for your industry.
Frequently Asked Questions
A few questions you should be asking are:
- What’s your business purpose?
- What’s your personal “why” for launching your business?
- How big are you planning on growing?
- Who are your target clients?
- Will you have staff?
- Will you ever have business partners?
- What’s your exit strategy?
Changing your business structure down the track can have significant complications, cause you to be required to pay extra tax, and therefore create a load of additional administration. All of this, however, can be avoided by planning ahead by working with Carbon.
Your business plan isn’t something you should ‘set and forget’. You should revisit your plan as your business grows, and your needs change to evolve your business plan as you go. If you haven’t looked at your business plan since you created it, don’t stress – it’s not too late. Get in touch with us today and let’s get started.
You will have worked with your accountant to create tax strategies for your business, and it’s important to align these strategies with your business structure. You can do this by communicating with your accountant often, and chatting with them about your business structure as you create it.
Contact us today Book a free consultation
To find out more about how Carbon can help with your start-up, simply fill in the form below and we’ll be in touch shortly.
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