Do you have a great idea that you think you could turn into a business? Have you recently been made redundant and are considering starting your own business?
Statistics tell us that four out of five new business start-ups fail within the first two years.
Why do they fail?
- Lack of planning
- Lack of capital
- No business experience
- Poor or no promotion and advertising
- No attention to collecting money owed to the business
- Not asking for advice before commencement
Before you start a business, it is imperative that you get some professional advice - this will not guarantee success, but it will make the odds of survival much greater.
Some of the issues that need to be discussed with a professional advisor include:
- Business structure
- How much, who is providing it
- Which bank to use
- Employees - PAYE and Kiwisaver obligations
- Income tax requirements
A modest fee for professional advice prior to starting a business may well save you a whole heap of money further down the track.
Contact us to find out how we can help you.