We gauge our professional success by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following is just a few of the areas in which we provide consulting services:
Financial performance analysis and forecasts
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, we can assist you in achieving your company's financial goals. In addition a business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company's financial condition, estimate financing requirements, and track cash-flow sources and uses.
Buying and Selling of a Business
Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. We have the experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations. We help manage the process seamlessly, working closely with your lawyers and bankers to execute a cost and tax efficient conclusion to the transaction.
Appropriate financing is integral to long-term business success. Getting a financial institution to provide a loan can be one of the most difficult and stressful areas of running a small business. Banks eye startups warily, since so many small businesses go under in the first few years. Achieving credibility with a financial institution is critical to the success of your business. We can offer your business a comprehensive knowledge of lending institutions and their policies. Our goal is to help you maximize your ability to grow quickly and profitably by designing and implementing appropriate financing strategies. Without bank support, you will have to finance the business out of your own pocket. Unless you have very deep ones, growth may be unnecessarily constrained. Credibility with a bank is gained by providing professionally prepared, credible financial projections and a clear and a credible business plan. Presentation is very important. Good relations with a bank depend as much on how you are perceived by the banker as on the financial information you present. If he doesn't get a "good feel" about you, the deal may be lost. As your accountant, we can be instrumental in insuring that any presentation made reflects favorably on you and your business. We would act as a liaison between your company and its financial institution.
A business plan is a document articulating your company mission. It spells out the business you're in, the market you serve, the results achieved to date if any, financial projections going forward, and your long term goals and how you plan to achieve them. It enables prospective investors and lenders to assess the credibility of management and the business. Although we may not be the sole contributor to your business plan, we would certainly play a major part in its preparation. Much of the information provided is financial, including historical financial statements and projected statements of income and cash flow. These projections provide the basis upon which investors make their decisions. We could help you put together a sound, credible business plan.
Family Business Succession Issues
Closely held businesses present unique challenges, whether the intention is retain the business in the family or to maximize value as an exit strategy. When a family desires to retain the business, we assist by integrating business consulting, accounting, finance, and tax and employee benefits advice. We examine the management structure and assess the need to bring in particular outside talent. We structure a plan to minimize estate taxes and allow the founder to tax efficiently transfer the business to the next generation(s). If the strategy is for the family to withdraw from the business, we assist our client and their family in considering available options, including sale of the business.
Both entrepreneurs and established businesses consult with us in the development of business plans for internal use and to secure financing. We provide advice to emerging businesses about selection of the organizational structure most advantageous for the business and the tax situation. For established companies, we focus on plans for new divisions and product lines. We also are involved in assessment of existing plans and determine advisability of updating or revision.
We participate with clients and their counsel in the review of existing partnership, shareholder and operating agreements to identify issues and develop agreements that address the interests of the business and the principals. We consult with individuals regarding the dissolution of business interests, shareholder and marital disputes and assist in resolving differences in a cost efficient manner.
Estate planning involves a lot more than just preparing a will. In fact, wills are not always the most essential component of an effective estate plan. Each case is different and requires a review of the individual's assets as a starting point. Sometimes the objectives of an estate plan can be achieved by simply changing ownership or designating a beneficiary. In preparing your estate plan we will review your assets, beneficiaries and will. We will then communicate with your lawyer, or will refer to one of our own legal contacts should a lawyer be required.