August 31, 2018
The Spine of Business
Starting a business is exciting – you have the vision turned into a reality, yet are unsure of the ‘behind the scenes’ conformity. A sustainable business requires a strong backbone, which supports your vision and provides stability in three focus areas:
Financials: Have the right business structure from the start. If you’re unsure, seek assistance, e.g. entity type, GST/PAYG, insurances, software packages, bank accounts and payment services.
Human resources: Whether you have one employee or 1000 employees, it’s crucial to set up systems and processes to support growth and provide objectives and consistency, e.g. employment contracts through to performance and productivity goals.
Compliance: Be aware of statutory legal obligations, which are relevant to your business. External stakeholders could include: ATO, Fair Work, Workcover, Office of State Revenue, WHS, quality and environmental standards that are enforced via external auditors.
The synergy of these three areas create the ‘spine’ of your business so you can focus on what you do best!
Mention Profile Magazine when booking your free consultation and let us support your business.