Administrative Management
Just as people need to take care of themselves to stay healthy, a business needs to take care of its needs to stay healthy as well. Those needs include billing customers, paying vendors and employees, maintaining inventory, having adequate insurance, paying taxes and many other things that take managers away from growing the business. Many entrepreneurs try to handle these tasks late at night or assign them to an overworked and under experienced office manager, who struggles to keep up. We can help by designing workflow and inventory systems, handling payroll issues, setting up tax payment arrangements, designing human resource plans, monitoring corporate governance and compliance, negotiating insurance plans, and many other tasks which your company needs to do to keep running smoothly. We can handle these tasks for you or work with your staff to ensure that all processes are in order.
Tax preparation and planning
Taxes are an issue that every business must deal with, and with tax laws changing annually, business owners find it difficult to keep up while managing their business. Keeping up with tax information is part of our business though, and we do it so we can provide up to date info to you for your business. And while compliance seems as simple as filing returns on time, managing your tax liability is much more complicated. Planning is a process, not an event, since both tax law and your business matters are constantly changing. We’ll meet with you throughout the year to advise you about tax law changes, what you need to do to stay in compliance, and how this will affect your tax liability, as well as offer advice on how to keep your taxes to the minimum required.
Capital Brokerage
Just like real estate and stocks and bonds, money is bought and sold in the marketplace. As businesses become more successful, they generate extra cash which owners need to put to work. We can create plans to help you put your funds in the best place for you, and help find other businesses which may benefit from not only your funding but your counsel and experience as well. And for businesses that need cash, we can help find sources of financing such as banks or private investors, and put together the best deal for you. Matching funding sources with users is more than finding money; operating style and personalities are also a factor, as well as access to information on a timely basis.
Advice on buying or selling a business
At some point, most successful entrepreneurs will explore either buying another company or selling their own. They may want to buy to exploit an opportunity or to grow market share or to get into another business line. In any case, the decision to buy can be frightening, because of the many unknowns. Most entrepreneurs know their business well enough to know if the opportunity is right; knowing if the process is being handled correctly is more difficult. Questions may arise about the price, due diligence, proper financing, long-range planning, and the proper paperwork. Depending on the size and complexity of the deal, you may need to retain an attorney and apply for various licenses and permits. All of this can be daunting for a small business, but we can help ease the process by explaining what decisions you need to consider, working with legal counsel, even negotiating your deal if necessary, so that you can continue to run your business during the process.
The decision to sell can be an agonizing one too but may be the right one under certain circumstances. We can work with you to determine if you are selling for the right reasons, or to explore alternatives if not. We can also help with many of the same tasks a buyer faces.