Helping you make good business decisions
One of the key areas in our firm is working with our clients on building their businesses. This often involves monthly (or weekly!) meetings with the client to go through the issues that are impacting on their business.
Our approach in carrying out this role is to act as a supportive, friendly ear to the business owners and, in many cases, act as the “Devil’s Advocate”. In this latter role in particular, we can often assist clients in refining their business decisions for a far better result.
We also provide a “sounding board” for our clients when assessing various issues impacting on their business. It not only provides a valuable service to our clients, it enables us to develop a far greater understanding of the business and the people in it.
Protect Your Assets
There are 4 rules steps we adopt at Wise Accountants to ensure your assets are protected:
- Separate Risk from Assets – Business risks should be kept separate from business and investment assets
- Choose a “Risk-Taker” and an “Asset-Holder” – Within a Family Group, you should choose one individual to be a “Risk-Taker” and another individual to be an “Asset-Holder”. The Risk-Taker should be the main person involved in your business. The Asset-Holder should not be, or act, or seen to be acting as a Director of any Trading Companies. In most cases, the Family Home should be owned 100% by the Asset-Holder.
- Separate Business Risks from Business Assets – Establish a business Asset Holding Entity (separate from your personal Asset Holding Entity and any Trading Entity).
- Different businesses should operate from separate entities (companies/trust) – To prevent the possible failure of one business venture affecting any other business ventures, different businesses should operate from separate business entities.
This is not something to leave till a rainy day comes, call us now to discuss your situation.