Buying & Selling a Business
Mobbs and Company can play a vital role in helping business owners navigate the complex process of buying or selling a business. We can provide valuable financial analysis and due diligence to ensure that the business being purchased or sold is financially sound and a good investment. We can also assist in the negotiation process, helping to ensure that the terms of the sale are fair and equitable for both parties. Additionally, we can provide guidance on tax implications and help with the transfer of assets and liabilities. In the case of a sale, we can also assist in the preparation of financial statements and other documents required for the transaction. Overall, Mobbs & Co can provide valuable expertise and support to business owners throughout the buying and selling process, helping to ensure that the transaction is smooth and successful.
Business Structure Setup
There are several common business structures in Australia, including sole trader, partnership, company, and trust.
- A sole trader is a business owned and operated by one person, who is also personally liable for any debts or legal issues. Accountants can assist in the set-up of a sole trader business by helping to register the business with the Australian Business Register and the Australian Taxation Office, as well as providing guidance on the tax obligations and compliance requirements of a sole trader.
- A partnership is a business owned by two or more people, who share the profits and losses, and are also personally liable for any debts or legal issues. Accountants can assist in setting up a partnership by helping to draft a partnership agreement, as well as providing guidance on the tax obligations and compliance requirements of a partnership.
- A company is a separate legal entity from its owners, and the owners are not personally liable for any debts or legal issues. Accountants can assist in setting up a company by helping to register the company with the Australian Securities and Investments Commission (ASIC), as well as providing guidance on the tax obligations and compliance requirements of a company.
- A trust is a legal arrangement where a trustee holds assets for the benefit of beneficiaries. Accountants can assist in setting up a trust by helping to draft a trust deed, providing guidance on the tax implications of a trust, and providing advice on compliance requirements.
In summary, the consultants at Mobbs and Company can assist business owners in setting up their business by providing guidance on the legal, tax and compliance requirements of each business structure, this help business owners to make informed decisions and to make the process of setting up the business smooth and easy.