Business Structuring
Structuring for start-up or established businesses.
One size does not fit all when it comes to business structure and with many considerations needed to be taken into account when deciding on a structure, Mulcahy & Co is here to help.
Whether you’re a business just starting out or an established brand, your business structure will vary. Ben Hutchesson from the Geelong/Melbourne office says it’s important your structure reflects where your business is at.
“One size does not fit all and it doesn’t always mean what’s appropriate now is appropriate in the future,” he said.
For a start-up business there are several options to consider such as sole traders, partnerships, companies and trusts. In discussions with Mulcahy & Co to establish your needs and goals, the team will consider aspects like; asset protection, the possibility of bringing in new partners as the business grows and the industry you are in and how that may affect the business structure.
Asset protection can include your family home, a business premises, investment properties, shares, any type of asset that you want to protect.
Future growth of the business includes possible future partners and projected income and profit levels. Mulcahy & Co will ensure these are a priority so the business is structured correctly based off these predictions and goals.
As an established business, once you have a specific structure this is not locked in for life. You may have outgrown your current structure, circumstances may have changed or you may have little to no asset protection. In these cases, Mulcahy & Co can help re-structure your affairs and corporate structure.
Tax consequences and the way to actually conduct the re-structure will need to be considered but are both issues the Mulcahy & Co team can help your business through.
For anymore advice on business structuring, contact Ben or any of our accounting staff at Mulcahy & Co.
- By Ollie Nash
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