Family-Owned Businesses

Client: Successful professional, operating in a nieche market
Objective: Streamline processing, regular reporting, family tax planning, succession planning

Our client qualified as a successful professional who found a niche in a market that he decided he wanted to branch out into. He used his understanding of the industry to build his business, before introducing his children into the business.

Initially the children assisted with office duties until they found other areas of opportunity within the market which provided the need for the business to grow in various areas.

When the client approached us to streamline the various areas of the business, the first step was to ensure all generations in the business had solutions they were confident to use.

We used our knowledge and expertise with numerous cloudbased solutions to identify and implement systems that streamlined processing for various aspects of the business by looking for innovative solutions.

We ensured that the implemented systems aligned with the various regulatory requirements and met the needs of the business from a cashflow and day to day operation perspective. With regular reporting we were able to extract meaningful information that allowed regular reviews of the business tax obligations and review all family members tax commitments at the same time.

Services supplied:

• Cloud software implementation
• Process streamlining
• Regular reporting packages
• Tax planning reports and meetings

Speak to one of our team about your family owned business today on 1300 360 186.

This case study is not intended to imply advice to your own situation. Please speak to us to understand your financial needs, objectives and circumstances.