The operation of a family business is difficult.  And the ability to understand the financial performance and money flows inside a family business is critical to achieving long term success.  This is true for every small, medium or large business.   Every family business should make the effort to analyse financial information within their business, by […]

Creating a business plan for a family business is often seen as an academic affair.  Quite often the small business accountant will be sent an email with a request to write a business plan and then presto!  In two weeks the document will arrive. And then stagnate. Why a business plan is valuable The value […]

The small business capital gains tax concessions offer a myriad of ways to enjoy the sale of the family business with a small amount, or no tax payable.  And while they are a complex mindfield, the end outcome of the concessions is so incredible that every long term tax plan should have it. The small […]

In most family-owned businesses the bank is an extremely important business partner.  Quite often the bank will be the second largest source of finance (after the family). So the management of the relationship with the bank is often an important part of the success. And the time to manage the bank relationship is when the […]

The reasons for a failed business can come through thick and fast. In a world faced with technology change, high taxes, high employment costs and digital automation the reasons for a failed business are literally endless. So what is the major reason a family business fails? In our experience it is the family. The ability […]

The current labour government proposal to remove the refund of franking credits for SMSF’s and other taxpayers is a significant one. Many Perth based families in business have structured their succession plan taking into account the generous taxation treatment of superannuation and SMSF’s using the way imputation credits are treated.  The proposed removal of the […]