How healthy is your business?
Depending on the size of your business and finance facilities you may not be required to undergo a yearly audit. However, as good as this may seem there is a down side. Being audited forces you, as the owner of the business to be on top of things, ensuring your financials are in order and up to date. It’s easy to let things slide when there is no pressing need for action. Does this sound like you?
What is a Business Health Check?
Our Business Health Checks are designed to specifically meet the needs of Business Owners and their business. To highlight areas of risk in relation to the business and provide recommendations for improvement. The extent of the Health Check is determined by the clients needs and the issues highlighted.
A ‘Health Check’ provides comfort regarding the health and hygiene of your business. It not only delivers a report card on compliance with financial and taxation obligations, it also considers some of those issues that tend to keep you, the owner awake at night.
Questions a Health Check will address are:
- is your business structure optimal, taking into account your goals?
- is your personal investment/asset holding structure appropriate?
- how are you tracking in relation to your business and personal goals?
- is your business profitable and how does it measure against other businesses in the industry?
- are you running your business efficiently?
- are you meeting all of your compliance obligations in relation to tax and payroll issues?
- are you at risk in relation to employment related matters (specifically payroll)?
- are your business systems working efficiently and is there risk of fraud or theft?
- is management effective?
- are you meeting your financing covenants?