JDB Partners

Starting A Business

The principals of JDB Partners have a long history in assisting clients to purchase an existing business or to establish a new business from start-up.

Starting A Business

This process involves the following main steps:

  1. Ascertain the area of business that a client wishes to pursue.
  2. Research appropriate brokers within an industry who have relevant businesses for sale OR assess the feasibility of establishing a “greenfields” site for a new business venture.
  3. Compare businesses for sale within an industry.
  4. Review the financial records of a prospective business.
  5. Prepare a finance application on your behalf including a projected cash flow statement and organise appropriate finance directly with the banks or selected finance brokers.
  6. Negotiate the purchase of a business from a financial point of view.
  7. Discuss with yourself and your solicitors the structure of the purchase from a legal and taxation point of view.
  8. Register the new business for GST, PAYG, WorkCover and superannuation.
  9. Set up or train you to attend to the bookkeeping needs of the business.
  10. Attend to your future taxation reporting and business planning needs as you require.

Our firm prides itself on having strong relationships with reputable business brokers, commercial solicitors and financial institutions including all of the main banks all of whom are essential partners in making your business purchase a success. These partners, together with your accountant of choice must be experienced in advising clients in setting up a new business or purchasing an existing one and must be aware of their responsibilities and capabilities in this whole process.

Finally, often a client will require further financial or legal advice outside of the traditional sphere of a public accountant. JDB Partners has located a range of professional partners in the fields of legal services, insurance, finance (business or personal) and financial planning including retirement, the details of which can be found under the appropriate tab on our home page. These professionals are a recommendation only which you should assess for yourself and no consideration is received by our firm for any referral.

Should you be interested in discussing your future business plans or require a review of your present business including possible refinancing or tax planning, please complete an enquiry form which can be found on our home page or contact us directly on (03) 9842-6660.