Blog

CASH TRANSACTIONS DEVALUE YOUR BUSINESS

Thursday 10 Oct 2019

Many business owners still believe that they are ‘beating the tax man’ when taking payment in cash from customers and not declaring this as income.  This is a big mistake, there will not only be tax implications  and penalties if caught by the ATO but also the business is being devalued significantly by transacting this way with customers.   When a business is valued, it can only be assessed on what has been declared as income to the ATO. Business o ....

More info

A diverse customer base adds value to your business

Tuesday 06 Aug 2019

Ensuring your business has a range of clients is not only critical to the success and sustainability of your business but also adds value to your business when it comes time to sell.  Most buyers will review your customer base to understand some of the risks involved in acquiring your business.  The more diverse the client base the less risk buyers will see which makes your business more appealing!

More info

Michelle Wright wins REIQ Business Broker of the Year

Thursday 21 Mar 2019

The REIQ hosted their annual gala dinner on 16th March 2019 at Brisbane’s RNA Showgrounds where winners for the 2019 REIQ awards for excellence were announced.  Michelle Wright was a finalist along with top performing agents from Benchmark Business Sales and Link Business Brokers.  Michelle Wright was announced as the 2019 REIQ Business Broker of the Year!    

More info

Stock Matters

Monday 04 Mar 2019

Often, we speak with potential sellers who have accumulated a significant amount of stock over many years.  Business owners should monitor stock levels carefully as when it comes time to sell buyers will most certainly only want current stock that is saleable and in a good condition.  We recommend regular stock takes to ensure that the values and volumes of stock are always closely monitored !  

More info

Inman Connect Conference held in New York City !

Monday 04 Feb 2019

Inman Connect was held in January 2019 in Times Square New York City.  This week-long conference was host to amazing speakers and provided educational opportunities for real estate professionals worldwide.  Michelle Wright attended the conference as Complete Business Brokers has a commitment to ensuring that the business is utilising latest technologies and is adhering to best practice within the industry.  Michelle will also be able to share this knowledge with other Queensland b ....

More info

See your accountant when thinking of selling your business

Wednesday 09 Jan 2019

Every business owner should be working closely with their accountant particularly when it comes to selling a business.  An accountant will be able to review past and current financial performance, along with the entity type and provide advice on whether there will be any tax payable on the sale of the business.  This is an important step as it’s critical for business owners to understand the additional costs involved with a sale. 

More info

Are your employees being paid correctly?

Monday 19 Nov 2018

As a seller you should be making sure that your employees are being paid at the correct rates.  If they are not you will need to correct this as well as provide the information to any buyer about recent pay rises.  If a buyer finds that any employees have been paid incorrectly, the most likely scenario is that they reduce the amount they are willing to pay for the business.  Sellers also need to consider staff entitlements, this catches many business owners out.  Staff entitl ....

More info

When's the best time to sell?

Thursday 25 Oct 2018

This is a common question with a simple answer.  Sell when you don't have to!  Plan well in advance for a sale (years) and expect that the new owner may want you to stay on as en employee for an extended period.   The key to acheiving maximum sale price is all in the planning, working closely with your accountant is always a good idea too.  They will be able to montior revenue and profits and also provide feedback on what tax may be payable on the sale.   Too o ....

More info

Understanding the value in your business

Tuesday 02 Oct 2018

There are many factors that can make your business attractive to buyers and taking the time to understand the importance of these critical items can lead to a successful sale in the future.  We often see many mistakes that sellers make that could easily be addressed prior to sale.  Things that can impact the value in your business are items such as not having accurate and current financial records on hand for buyers, not paying staff correctly, having the business reliant on only a few ....

More info