Business Services
Accounting in the modern world means keeping abreast of change – change in regulations, business practices and management styles. Often these changes are complex and most business owners don't have the time to keep up with them.
Our accounting team can ensure that you not only stay fully compliant but that you keep abreast of changes that may impact your business performance. Our range of services includes:
Preparing periodic management accounts
• Ensuring all of your statutory external reporting obligations are fulfilled
• Preparing annual financial statements
• Cash flow monitoring and management
• Manage the accounting role for local and parent company reporting
• Development of internal policies and procedures
• Development of Key Performance Indicators and benchmarking tools
As a busy business owner, you may often feel that keeping all the plates spinning on the operational aspects of your business is challenging enough. When you consider the need to also comply with the numerous regulatory requirements of the Corporations Act, you need the peace of mind that comes with knowing that your paperwork is under control and correctly administered.
At NMC Partners, we can help take some of the pressure off by ensuring that you meet you governance obligations. The main corporate and secretarial advisory services that we can provide include but are not limited to:
Board Meetings, AGMS
• Attending and/or chairing monthly board meetings
• Preparation of agenda, board packs and minutes for board meetings with consultation of directors
• Assisting the board with implementing and developing corporate strategies
• Dealing with shareholder enquiries as required
Statutory Reporting
• Preparation & filing of company's prescribed annual registration (Form R1)
• Preparation of monthly, half (½) yearly and quarterly (¼) financial reports
• Liaising with external auditors to complete audit of ½ yearly and audit reports
It’s vitally important that you understand the true value of the company that you’ve created, as an asset. Being aware of the worth that you have created, and which areas of your business are the most valuable to you can help you make decisions about your finances, your cashflow, your future plans and even your personal life.
We’ve worked with many businesses to establish their valuation and build a detailed report that can guide these decisions. Our team of accountants have the expertise to understand your business and understand its value.
A Business Valuation may be a key service for you if you are:
• Purchasing a business
• Selling your share of a business
• Selling your entire business
• Applying for a business loan
• Evaluating your own net worth.
• Courting investors
A business valuation can also be important for probate purposes in a Deceased Estate, and for the matters before the Family Court in the case of a Marriage Breakdown.
Some of the key questions in a Business Valuation can include:
• What has the annual turnover been?
• What is the market value of the business’ assets?
• What liabilities or debts does the business have?
• Is the business making a profit?
• Is there enough capital or cash flow to keep the business healthy?
We’ll answer each of these questions and more as we build your Business Valuation and help you to gain a clearer picture of your standing and your company’s health.
A business cannot succeed long term in today’s hyper-competitive environment without a robust strategic plan. But standing back from your business in order to create a plan is often a challenge to both time and energy.
Because NMC Partners advisers work with such a wide range of businesses – small to large and across many different industries – they have a broad perspective that makes them perfectly placed to work with you and facilitate a strategic plan for your organisation.
Our advisors will ask the simple questions that can be very hard to answer: questions like ‘Who are we?’, ‘What do we do?’, ‘Who do we do it for?’ and ‘Why do they choose us?’ They will then delve deeper, seeking to help you to really understand what it is that makes your business tick, and where the opportunities are for the future.
That understanding is a starting point to identifying the ‘what, where and how’ of your strategic plan, both in the short to medium term and out to the long term of five years or more.
A good strategic plan will consider issues such as market development, coping with growth and succession planning. It will provide both today’s management and tomorrow’s with a firm foundation on which to make their decisions – now and many years down the track.
The most difficult step of a strategic plan is usually the first step: taking action to get started. So make the call, and let a NMC Partners consultant be your guide.
Estate planning is more than just having a will or making a plan about who to distribute your assets to. An effective estate plan will allow you to retain control of your assets while maximising the value of your estate by reducing taxes and other expenses.
When considering whether you need an estate plan, it's worth giving some thought to a number of important questions such as:
• how and when you may want to sell your business
• how you would pay the estate of a business partner if they were to die unexpectedly
• if you became ill or incapacitated, who would act on your behalf and how would your family be supported?
• if you were to die, how would your family access the value held within your business?
We can assist you with all aspects of the process including:
• Tax effective strategies to optimise the value of your estate and minimise risks
• Investment planning
• Insurance advice
• Asset protection strategies to preserve wealth within families
Efficient bookkeeping is the key to any successful business. Maintaining accurate records of all your financial affairs and transactions will prevent a wide range of annoyances and make it easier to stay on top of your taxes.
Using a professional bookkeeper will ensure transactions from the workplace and home are properly tracked and recorded. Keeping track of your finances is vital for approaching banks and lenders. Here at NMC Partners we provide a wide range of bookkeeping services available to your business, which makes working out your taxes simple and easy.
We can streamline your financial management and allow for up to date and fast accounting. We provide tailored bookkeeping that meets you where you are, and takes you where you need to be.
As family business owners start to plan their retirement and how they will exit their business, it is critical that the business puts in place a well-considered & structured Succession Plan that will help to enhance the value of the business.
An effective Succession Plan considers a range of matters such as:
• Options relating to the transfer of management
• Options relating to the transfer of ownership
• The degree to which the next generation will be involved in the business
• Overall transition plans & timeframes to ensure minimal disruption to the business.
• Wealth preservation to ensure the continuity of the business.
• Where it is likely that a business will remain family owned, we can help you develop a Family Business Constitution to outline how the business is to be managed, the process for family members wishing to enter & exit the business, how equity can be transferred and guidelines for issue resolution.
With the overwhelming array of products offered by banks and financial institutions, finding the best finance deal for you or your business can be a time-consuming and expensive prospect.
Everyone is different
We know that your goals and needs are unique. That’s why we carefully assess your particular circumstances and devise the most cost-effective plan for you. Whether you want to grow your business or buy your first home, NMC Partners can research the most cost-effective option.
We can help you find the best deal for:
• Commercial loans
• Development and construction loans
• Agribusiness loans
• Residential and investment home loans
• Motor vehicle and equipment finance.
Our direct contact with all the banks and financial institutions means we can liaise directly with them to arrange:
• Lines of credit
• Refinancing solutions
• Low document loans
NMC Partners can help you arrange with all your finance and lending needs by:
• Preparing strategies, tenders and annual reviews
• Providing financial consulting services and crisis management
• Budgeting & Planning
• Cash flow, budgets and financial projections
• Arranging import and trade finance
• Managing buy-outs and buy-ins
• Arranging mezzanine finance
At NMC Partners we can help you start up and register your business entities. It’s important to remember to seek our advice on the range of business entities on offer that will best suit your needs depending on your personal circumstances and future goals.
Business Structuring For Wealth Protection
There are a number of structures that you can choose from when starting or expanding your business. The 4 main types of business structures commonly used by small businesses are:
Sole trader: an individual trading on their own
Partnership: an association of people or entities running a business together, but not as a company
Trust: an entity that holds property or income for the benefit of others
Company: a legal entity separate from its shareholders.
Choosing a business structure is an important decision and getting the right advice on the structure that will best suit your business needs is an important step. Talk to one of the NMC Partners team today for more information.
We can assist you to register Company’s, Trusts, Partnerships and other entities depending on your needs.
Each entity has different implications and accounting methodology that is required at the end of each year. Some allow for greater flexibility than others in terms of the distributions of funds to trustees and beneficiaries.
We can guide you into establishing smart business structures that will work for you. You may find that the best solution to use a company as a business structure; trusts could be a better alternative for your needs. We can register these entities on your behalf to make sure you set up structures that protect assets and minimise tax implications.
Call NMC Partners today to find out more. We are the experts in restructuring and developing strategies to best manage business process that is aligned with your needs and requirements both from a business perspective and for personal wealth.
We offer:
• The best advice to establish and manage entities to better manage wealth in terms of added flexibility in the distribution of funds
• We can register a range of entities from Company’s, Trusts, Partnerships and more depending on your needs. Call us to see what works best for you.
• We can offer ongoing management of your entities to help you create a stable financial future with minimal complications and unnecessary costs.
• We understand the best solutions for your circumstances and forecast the best solution for what you wish to achieve in the future.
CASH FLOW MANAGEMENT
We can set up a system for monitoring and then increasing your working capital. Our priority is ensuring your cash is coming in on time and going out on time.
Managing your cash flow often means prioritising or potentially delaying payment of creditors which may harm relationships with suppliers. It also means forecasting for different scenarios.
Our team of accounting experts can set up a system for monitoring and then increasing your working capital. First and foremost we will make sure the cash is coming in on and going out on time.
We will ensure that you have the right banking and finance products in place and provide a detailed “what if” analysis enabling you to make timely critical business decisions.
Rigorous cash management is essential to business growth. Our 3 way business model to integrate your cash flow with your financial report and budget and forecasting tools will give you control and transparency over the cash in your business.
Our system will also provide you with solutions to address shortfalls and surpluses if/when they may occur.
In a rapidly changing environment, organisations that have thoroughly planned for the years ahead have a significant advantage over their competitors. These organisations are able to consider changing circumstances, how they will react to cost pressures or tightening revenue and the ultimate impact on the organisation’s cash flows.
Our starting point is a detailed profit and loss budget and an understanding of the relationships that exist between various cost and revenue drivers. Variations in these drivers are captured so that their impacts on the organisation can be easily assessed. This provides a basic level of understanding that every owner and executive should have.
Next we will add in a cash flow forecast that will guide you as to the levels of free cash flow or debt you may require to operate your business. Finally we will add a balance sheet that will give you a projected statement of assets and liabilities. These are the basic tools that all organisations require.
When the elements above are put together into an integrated model it is called a 3-way financial model. Such a model is an extremely powerful tool. It allows you to explore the various scenarios and assess your organisation’s sensitivities and subsequent impacts on cash flow, bank covenants, and any other key performance measures.
This allows you to identify areas to improve your business and to also consider the impact of various growth opportunities. Your 3-way model should be extended over at least a 3 year period so you can appreciate the impact of your decisions in the medium term.
Both Public and Private organisations need a financial model that will meet their particular business and reporting requirements, to support executive decision making, and provide the right information for stakeholders.
You are the driving force and the inspiration behind your business, so what will happen to it when you leave?
A solid, well-considered strategy is essential. Only then, can you move on to your new phase of life assured of maintaining your personal financial security as well as the future growth and performance of your business. Planning ahead will enable a smooth transition and pave the way for future success.
Our team know that every situation is different, every business is unique and every family has their own personal objectives and business needs. Planning to move on from your business and transition to a new phase in your life can be difficult on many levels. NMC Partners understanding allows us to take a step back and look at your circumstances from a big-picture perspective. It is never too early to start building for your future.
In today's fast paced business environment even small to medium sized businesses can do with the expertise of a Chief Financial Officer, a luxury once afforded to large corporations.
By outsourcing the finance function of your business to us it means you immediately access qualified financial experts, with the expertise to drive your business towards success in realising your vision and achieving your goals.
Our CFO Solutions provides you access to an expert who understands how successful businesses function and assist you with the daily pressures and challenges you face.
We find that often owners of small to medium companies frequently don’t have anyone with whom they can discuss strategies and issues. We have a wealth of experience and business insight a business owner can tap into.
Our CFO Solutions is tailored for your business but commonly the following is included:
• Analysis of pricing and product or service decisions
• Bookkeeping
• Company Secretary duties
• Creditor payments
• Design and refinement of internal accounting systems
• Developing budgets and financial forecasts
• Development and monitoring of Key Performance Indicators
• Ensuring effective use of cash
• Financial modelling (sales projections, break-even analysis, cash flow analysis)
• Full payroll function
• Human Resources advice
• Information Technology strategy and advice
• Maintaining your data integrity by keeping your accounting records up to date
• Negotiations with banks and investors
• Proactive and tailored business advice
• Sales and marketing advice
• Sales invoicing and debtor management
• Selection of appropriate software
• Strategic business planning
• Strategies based on industry specific and best practice benchmarking
• Timely delivery of management reports
NMC Partners are your trusted business advisors, taking your vision for your company’s future and turning it into a meaningful plan with implementable actions and then ensuring that the results are measured.
Our advisors include a number of highly talented and experienced individuals with commercial backgrounds that have worked with a number of different clients in a wide range of industries.
We believe you need professional advice from someone who knows you and understands your individual requirements; someone who has knowledge of your complete financial situation and can look at your needs with insight and perspective.
At NMC Partners you benefit from objective, professional advice within a holistic financial framework. Our Financial Services team has the combined intelligence and resources to assist you in assessing your financial health and selecting the right products and investments to structure a financial plan that suits your individual goals and life-stage.
Our financial services team is committed to joining you on your financial journey with services including:
• Assessing your current financial health
• Establishing achievable financial and personal goals
• Developing a realistic, comprehensive plan to meet your financial goals
• Putting your plan into action and monitoring its progress
• Appropriate long term investments strategies
• Wealth accumulation plans
• Retirement planning
• Life and risk insurance planning
• Estate and business succession planning
• Portfolio monitoring and review service
NMC Partners is small enough to provide the personal attention you deserve. At the same time, our network ensures we are large enough to provide the resources and most accurate, up-to-date information needed to support your needs.
All organisations face continuous pressures and influences that make the achievement of organisational goals, and objectives uncertain.
Uncertainty exposes the organisation to risk. All processes, operations and plans of an organisation involve risk.
Risk Management is the process of identifying, assessing and prioritising these risks, followed by a coordinated and economical application of resources to minimise, monitor and control the probability and/or impact of unfortunate events.
NMC Partners can help you implement a risk management process that is relevant to your organisations needs and size of operations.
Benefits to managing risks:
• Increase the likelihood of achieving objectives
• Encourage proactive management
• Improve the identification of opportunities and threats
• Improve financial reporting
• Improve organisation resilience
• Comply with relevant legal and regulatory requirements
• Establish a reliable basis for decision making and planning
• Improve controls
• Minimise losses
• Alter behaviours
• Improve governance