Planning for success: helping a startup get it right from the get-go!
Background
Having the right business structure in place from the outset is crucial. Factors that can influence your choice of structure can depend on the size and type of business, your personal circumstances, and how much you plan to grow the operation.
In the case of this client, three partners were each investing $500,000 to establish a new business. As start-up entrepreneurs with ambition, it was important they engage an accountant with the skills and knowledge to advise the right ownership structure to suit their plans – ensuring tax would be minimised and personal assets protected from risk.
Solution
When Nav Accountants was engaged to support our client, our first action was to recommend which structuring option would be best suited to their business both now and into the future. It was also important to consider structures under which their individual investments should be held.
Outcome
Nav Accountants determined that a combination of Company, Trust and Bucket Company structures would be the right ownership structure for our client. Not only would this option provide solid asset protection and goodwill protection to all three investors, they would also achieve significant tax savings on their earnings from the venture.
Starting a business and wanting to know more about Ownership Structures? Make sure you get the right advice – get in touch with us today to arrange your initial consultation.
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