Get Your Business Set Up Right with Melbourne's Leading Accounting Experts
Getting your business started on the right foot is so important for your long-term success. Sadly, if you’re feeling like we were, trying to get your business off the ground can be stressful and overwhelming at the best of times. We believe the support you get during this time can shape your quality of life and the direction of your business. If you need a giant push or a gentle nudge, an Elephant in your corner means having access to trusted and experienced help from experts who have been in your shoes.
Starting a new business can be exciting, but also stressful. It’s important to take care of yourself so that you can focus on running your business. For a free consultation for business set up help, give us a call or come in for a chat at our Mount Waverley, Port Melbourne or Chadstone offices.
One of the most important decisions you’ll have to make when starting a business is choosing the right legal structure. A business structure is your business' foundation so it pays to make considered and informed decisions when setting up. Our Chartered Accounting experts will help you understand your options and provide advice on the most appropriate structure, whether it be sole trader, partnership, company or trust.
Business registrations are one of the many responsibilities involved in keeping your business compliant. However, if you’re new to small business or your industry, it can be hard to understand all the ATO and ASIC obligations and requirements that you’re expected to carry out. With Elephant Advisory’s accounting team, we’ll make sure all your key registrations and regulations are met on time, so you don’t have to.
Business owners who don’t look into asset protection could find their personal assets, such as family properties, at risk during any possible litigation. With our business set up help, you’ll be able to protect the hard-earned fruits of your labour.
At Elephant Advisory, the accounting software platform we use and recommend is Xero. If you’re not familiar with Xero’s platform; don’t worry, we’ll bring you up to speed. We offer assistance and advice with setting up your bank account, Single Touch Payroll and chart of accounts. We’ll also help migrate any previous information during the financial year or previous financial years and provide training on using Xero while you’re learning the ropes.
Starting a new business can be daunting, especially if you're doing it on your own. Whilst there are many things you need to do before launching your business, getting the right help and advice will be the most decisive.
From sole traders to start-ups, we’ve consistently provided expert support to Melbourne’s emerging business owners while they get off the ground. We offer advice and guidance on everything, whether it’s your tax, legal requirements or business structure. You’ll receive ongoing business set up help throughout the entire process, giving you the confidence that your decisions are backed up by years of experience.
Elephant Advisory is here to guide you through the toughest part of business ownership.
Sam Draper and Oz Karabadjak are two highly-skilled accounting professionals with extensive experience growing small businesses in Melbourne. As CPA and Chartered Accountants, the pair had been on their own small business journey for two years before merging with Elephant Advisory in 2021.
Today, Sam and Oz have built long-lasting relationships with each client through genuine care for their work. If there’s one thing these Melbourne small business accountants love more than crunching numbers, it’s watching a client achieve their business goals.more about us
This will depend on your individual circumstances. Whilst starting as a sole trader can be beneficial, we recommend first speaking to an accountant to determine the most appropriate structure for your business.
Yes, we actually recommend having multiple business accounts. This includes a trading account, a business savings account and a tax savings account. Mixing your personal and business accounts will make it hard to track the performance of your business and will make it harder for your accountant to identify tax savings.
We highly recommend getting your accounting right from the start and having the appropriate processes in place for business. However, If you do want to make the change to Xero later down the road, we can assist with the transferal process.
We can assist with the registration of GST and ensure your ongoing GST compliance is met.
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