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Business Advice

Being successful in business, especially these days, is about much more than just luck or being in the right place at the right time. 

Yes, you do need discipline — that’s a given. But one thing that is sometimes underestimated is the value that others can bring to your business. The value of trusted partners and advisers, those people who can help you deal with a whole range of business challenges. Bringing them in so they can share their knowledge and expertise with you helps remove some of that stress, takes some of that load off your shoulders. Which allows you to focus on what you do best — running the business.

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What’s the difference between a successful business and a failed business?  There’s no definitive answer here, but one thing is absolutely certain — if you don’t manage the financial aspects of your business then there’s every chance that sooner or later, your business will get put into the ‘failed’ category. 

Setting your business up properly, having the right strategy, managing your cash flow, and knowing when the bank is your friend or your enemy are just some of the critical issues that you will face. 

At Johnston Grocke, we can help you with all of the financial, and in many instances, non-financial challenges and opportunities to help your business not just survive, but thrive.

Getting my business started

Any good business needs to be set up properly from the very beginning, and there are three very good reasons for this. 

The first and most obvious, is so that you can operate effectively from Day 1. But you also want to make sure that you have the best structure for growth, and believe it or not, for its ultimate sale. Getting the right advice up front will definitely save you time and money later. Not to mention stress! You probably have a great business idea — something that you think really works, or something you’re extremely passionate about. But of course, that’s only one of the hats you need to wear as a business owner.

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The early days of a new business can be very exciting, but that excitement can quickly dwindle once you’re faced with the inevitable (and much less exciting) tasks of complying with a truckload of financial and tax regulations. Don’t let this get you down! Save time by contacting us at Johnston Grocke. We can help you:

  • Have the right structure 

  • Manage tax compliance obligations

  • Manage your cash flow, especially in the early days

  • We can provide strategic business advice

  • Raise funds to help get you started

  • Save you serious money.

Today’s accountants aren’t just bean counters. 

An accountant can provide your business with not only bookkeeping and financial services but also a wider overall package of business advice and consultancy.

A good accountant will not only take care of your accounts but also offer you advice on how to free up cash flow, make savings and raise capital for expansion. They’re tax savvy. They’ll know tax laws and legislation inside out and will be able to suggest ways that you could operate more efficiently. It doesn’t matter how good you think you are with figures, an accountant will find new ways to save you money.

But just as important as saving you money, an accountant will save you time. Administrating accounts is a laborious and time-consuming process and the bane of most entrepreneurs’ lives. Let’s be honest here — it’s not a hat that most people love to wear. 

Entrepreneurs that go on to establish and grow their businesses will bring in accountants to relieve the burden. The reason for this is not just for the development of extra finances — although this helps — it’s because it frees them up to spend their time to do what they’re really good at. Running their business.

Working with an accountant might at first seem like an extravagance, but it makes perfect business sense if it allows you to spend more time chasing new customers, exploring new avenues or training staff. In other words, wearing the hats that you love to wear. 

My Business Needs Money 

Maybe you don’t have the cash flow to relax and pay yourself a wage. Maybe you want to invest in growth.

When you can see that there is a really bright future for your business but you need money to get there, and you don’t know how best to go about it or you’ve been knocked back, it can be extremely frustrating. This is a very common problem that we see time and time again with the businesses who come to us for help. But it’s a problem that can be solved by talking to us about different cash flow and funding strategies.

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An overdraft is usually the best way to finance a temporary or fluctuating cash shortage in your business. Where a longer-term commitment is involved, a bank loan is often the easiest and most suitable form of finance. 

But whether you’re looking for a bank overdraft or a loan, applying for certain types of government aid, or trying to attract new investors or partners, you’ll need to present a convincing picture of your business’s financial condition and its future prospects. At Johnston Grocke, we know exactly what information is required and how it should be presented in order to give you the very best chance of success.  

What’s more, we’ve already got quite a few runs on the board. We’ve had a number of years to not only acquire that expertise, but to build those important relationships which enable us to get you the very best terms with a bank or financier. When you think about it, it makes sense to let us do the heavy lifting for you.

Insuring Against the Unexpected

Business life wasn’t meant to be easy, and despite the best-laid plans, sometimes the proverbial hits the fan. When it does, what can you do? 

Sometimes you get side-swiped by something completely out of your control such as government policy changes, a global financial crisis, loss of key staff or a big, new competitor. None of us have a crystal ball, but there actually is a lot you can do to make sure you’re better prepared for most things. A solid business strategy, a good grasp of cash flow, some contingency planning and, of course, making sure you have all the right business insurances in place. At Johnston Grocke, we’ve joined forces with Webster Hyde Heath to make sure we can offer our clients the very best in insurance advice and protection.  

 

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Insurance expertise in a wide variety of industries

Through this partnership, you can benefit from the expertise of one of the oldest and most respected insurance broking firms in South Australia, with over 25 years’ experience across a large range of insurance sectors including:

• Small, medium and corporate businesses

• Non-profit and community clubs/associations

• Drilling, boring, surveying and mining contractors

• Film and television.

 

A full ‘end-to-end’ insurance service

From providing advice and strategies in risk management to the placement of insurance through to the settlement of claims — we’ll be there for you, every step of the way.

Our specialists will structure an insurance program specific to your business’s requirements — whether it’s an individual policy placement or a complex program with multiple insurance policies engaging a number of insurers.

We place insurance risks with the vast majority of authorised Australian insurers and we have access to international insurance markets as well. All to make sure we can offer clients the very best insurance cover specific to their business.

 

What sort of insurance cover?

Insurance ain’t as simple as it used to be. In today’s fast and complex world of business, you really need to cover your butt in a whole range of areas. From the obvious, such as fire and theft to things like machinery, loss of stock, loss of profits, fraud, directors’ and officers’ obligations, even protection against getting sued! And every business is different.

 

So what do you need right now?

Perhaps you’re starting a new business and you want an insurance package created to make sure you’re adequately covered in all areas.

Maybe you want to double-check that you not only have the right insurance cover, but that you’re getting the best value insurance for your money and — extremely importantly — that there are no exclusions in the insurance policy that could adversely impact your business if the worst did happen. Because that’s not the time to find out that you missed something in the small print!

Don’t wait to be blind-sided by something that could cripple your business — prepare now! If you want to talk to someone about identifying your risk, discussing your exposure and minimising the consequences to your business just in case the proverbial does hit the fan, give us a call on 08 8303 0300.

 

Investing in Growth

Helping you raise funds to support the next phase of your business growth is a core service that we offer our clients. 

Building a bigger business sure sounds fantastic. But what many business owners often don’t realise is the massive impact that a growing business has on operating cash flow, systems, processes — and of course, their people. Ask any business owner whose business has grown quickly, and they’ll probably say that their toughest time was the year that they expanded the most. Rapid increases in turnover can sometimes weaken or even destroy a business! Sometimes its systems break down, other times the business simply can’t finance the increased levels of stock, work in progress and debtors.

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Adequate working capital and good controls over stock, invoicing, credit to customers and cash collection are among the most important aspects of good financial management in a growing business. Obviously, the more business activity there is, the more transactions there are that have to be recorded. 

Things like payroll preparation, bookkeeping and accounts preparation. Which might be better handled outside the business by an outsourced provider. And sometimes a bigger business, all of a sudden, means you need to be audited! Uh-oh…

It’s true that building a bigger business can bring bigger problems. But we’re used to this. At Johnston Grocke, we can help you find the right solution, no matter what your business growth scenario might be.

Commercial and Business Finance

So your business needs finance, or you’re looking to purchase a commercial property as an investment or to run your business from. Talk to us.  

When it comes to commercial lending, many banks take advantage of businesses, due to minimal regulation. At Johnston Grocke, we use our expertise to make sure you’re comparing apples with apples. Our advisors can help with funding to purchase commercial property, resi and commercial developments, to refinance commercial debts, organise franchise funding, business overdrafts, car finance, plant and equipment leasing, funding of tax office debt, or funding to solve cash flow issues. So before you sign on any dotted line, give us a call on 08 8303 0300.

To chat to a consultant online please click here

Selling my Business

Selling your business is something that ideally needs to be planned for as far in advance as you can. Because there are a few possible scenarios.

You may want to sell the whole of your business, or just part of it. There could well be some unforseen or unfortunate circumstance which forces you to sell. Whatever the situation, it’s always best to be prepared. Before the actual sale of your business, you will have to put a value on the business, find a suitable buyer, and of course, have the right business structure to make the sale transaction easier and less expensive.

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Make sure you contact us well before commencing any sales process, because at Johnston Grocke, we can assist you in more ways than one. We can help by assessing the value of your business and perhaps by introducing potential purchasers. Often overlooked are the tax and accounting calculations involved at this critical time. They can sometimes be extremely complex and they usually require expert knowledge. Yes, that’s us. So way before you even start to think about making any moves to sell your business, please contact us. Even more importantly, make sure you ask us to help you set your business up correctly in the first place. This can make your life so much easier when you come to sell your business down the track.



Contact Johnston Grocke

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Accountants & Financial Planners - Mortgage & Finance Services
IMPORTANT NOTICE

On this entire website, information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of information sourced from third parties. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

Anthony Klatt, John Grocke and Mathew Wilkshire are authorised representatives of Paragem Pty Ltd. Paragem Pty Ltd ABN 16 108 571 875, is the holder of Australian Financial Services License number 297276 and these authorised representatives trade as Johnston Grocke.

AG Finance Group is a Corporate Credit Representative (396686) of BLSSA Pty Ltd, ACN 117 651 760 (Australian Credit License Number 391237).