Talking Cents

Melbourne small business accountant helping out start ups

The first 2 years of a small business can be the scariest and most intimidating for young and old entrepreneurs. Not only is it a mental challenge, it’s also a physical one to make sure all the ducks are in a row and all the clogs are working together.

As Melbourne small business accountants, we see time after time small businesses that have been operating for more than 2 years, and because as small business owners are often wary of their cash flow, the fear of spending money on their small business accounting is strong.

The question we then ask is, if they had been to see an accountant from the first day of business, would their position be different to where it is now?

Key learning? Even if you don't get an accountant to manage your business from day one, at least seek advice on the key direction your business needs to go from a structure perspective, whilst also being fully aware of your ATO obligations.