CHANGING NEEDS

After many years in operation, most business will get to a point where the business matures in the market. At this point, the business assets are maximised and the cash flow is used to pay down debt and accumulate more assets outside of the business. When your business is approaching maturity, the sales and profit margins start to decrease slowly, and the focus shifts to protecting assets and maintaining the business, rather than growing the business.

It’s at this point that business owner’s start to think about succession planning, funding their retirement and possibly getting out of business completely. Innovus Accounting are able to tailor solutions to assist business owners across this phase of their business.

• Cost Control

BUSINESS MANAGEMENT

We can advise you on the use of any surplus cash available in the business, whether that’s investing in the market, investing in your business or investing into superannuation. Innovus Accounting will work with you to pay down debt in the most effective way and help you to establish surplus cash reserves for your business to help you see out this phase of the business life cycle.

EXIT STRATEGY

We don’t often like to talk about it, but there comes a time in business where it is time to call it a day. Whether the business stays in the family or is sold to a third party, there are financial figures that will be key to the future of the business without you. By establishing a plan with Innovus Accounting, we can help you make a better long term decision, make the transition easier and give you a wide range of options in retirement.

FUNDING RETIREMENT

As business owners, we are responsible for funding our own retirement – and yet for many business owners, this is the most neglected area of their business. Innovus Accounting, and our partners at Innovus Advice, can help you to establish a clear retirement strategy and factor in your planned Exit Strategy into your retirement plan. This is one of the key areas where business finances and personal finances cross over, so it’s important to get it right.