RBizz Corporate Accountants - Resources #Succession & Exit

Restructuring or selling your business? We can help

Wed, 14 Jan 2026 02:46:38 +1100

Restructuring or selling your business? We can help

In a challenging business landscape, if you are considering a major change, your head is no doubt filled with questions.

I’ve decided to restructure. What’s the best way to do this?

Restructuring is never easy but if it’s necessary to keep your business afloat, there’s a process you can follow to keep stress to a minimum.

Write a proposal outlining why roles need to change for the business to succeed.
Email employees to let them know you’re proposing a restructure and invite them to a meeting (at least 2-3 days later) to learn more.
At the meeting talk through your proposal on how the restructure should be implemented. It’s really important for staff to feel part of the process, so invite them to give feedback via email or book to see you after the meeting. Particularly if redundancies are a possibility, it is vital that you show an open mind as to what should be done to promote your business’s objectives.
Proposed changes to an employee’s terms and conditions must be committed to writing and provided to the employee with notification that they are entitled to seek independent advice. They must be given a reasonable opportunity to seek that advice.

I want to sell my business. How do I get it ready for sale?

Selling your business involves a lot of homework. You need to get it looking as “shiny” as possible before getting it valued by an accountant.

Here’s how:

Sell assets you’re not using, stop investing in long-term projects and put together a realistic financial forecast.
Prepare a business plan that includes how well the business is running and your plans for growth.
Sort out any legal issues or staffing problems.
Bring health and safety, cloud solutions, and bookkeeping software up to date.
How are your website and social media looking? Could a buyer hit the ground running with them?
Talk to us about ways to boost your sales revenue and pre-sale profit margin. Remember it’s the last two or three years’ profit, and future maintainable profit, that determine the value.

Restructuring or selling your business? We can help

Wed, 14 Jan 2026 02:45:28 +1100

Restructuring or selling your business? We can help

In a challenging business landscape, if you are considering a major change, your head is no doubt filled with questions.

I’ve decided to restructure. What’s the best way to do this?

Restructuring is never easy but if it’s necessary to keep your business afloat, there’s a process you can follow to keep stress to a minimum.

Write a proposal outlining why roles need to change for the business to succeed.
Email employees to let them know you’re proposing a restructure and invite them to a meeting (at least 2-3 days later) to learn more.
At the meeting talk through your proposal on how the restructure should be implemented. It’s really important for staff to feel part of the process, so invite them to give feedback via email or book to see you after the meeting. Particularly if redundancies are a possibility, it is vital that you show an open mind as to what should be done to promote your business’s objectives.
Proposed changes to an employee’s terms and conditions must be committed to writing and provided to the employee with notification that they are entitled to seek independent advice. They must be given a reasonable opportunity to seek that advice.

I want to sell my business. How do I get it ready for sale?

Selling your business involves a lot of homework. You need to get it looking as “shiny” as possible before getting it valued by an accountant.

Here’s how:

Sell assets you’re not using, stop investing in long-term projects and put together a realistic financial forecast.
Prepare a business plan that includes how well the business is running and your plans for growth.
Sort out any legal issues or staffing problems.
Bring health and safety, cloud solutions, and bookkeeping software up to date.
How are your website and social media looking? Could a buyer hit the ground running with them?
Talk to us about ways to boost your sales revenue and pre-sale profit margin. Remember it’s the last two or three years’ profit, and future maintainable profit, that determine the value.

Why Every Business Needs an Exit Strategy

Wed, 14 Jan 2026 02:44:47 +1100

Why Every Business Needs an Exit Strategy

Most business owners spend their time building their company — not thinking about how to eventually leave it. But having a well-planned exit strategy isn’t just about walking away; it’s about protecting what you’ve built and ensuring your business thrives even after you step back.

So, why is an exit strategy important even if you’re not planning to sell? Let’s look at the key reasons.

1. Planning for the unexpected

Life can change in an instant — illness, family emergencies, or new opportunities can all take you away from your business sooner than expected.

An exit plan ensures your business can keep running smoothly without you. It gives your team direction, protects your clients, and safeguards your financial future.

By documenting systems, delegating key tasks, and identifying successors early, you’re building a structure that can operate independently of you — a critical part of any successful business.

2. Increasing the value of your business

A business that runs smoothly without the owner is far more attractive to buyers and investors. Even if you’re not selling now, preparing as if you were makes your business stronger, more efficient, and more valuable.

To boost value:

Strengthen recurring revenue streams.
Document internal processes and key client relationships.
Build a capable leadership team that can make decisions confidently.

These steps make your business scalable — and investors love scalability.

3. Creating flexibility for the future

You may not be planning to sell today, but things can change quickly. Maybe a new opportunity arises, or you simply want to retire early. With an exit plan in place, you’ll be ready to act on your own terms.

Having flexibility means you can decide when and how to transition — instead of being forced into a rushed or stressful decision.

4. Protecting your legacy

Your business reflects years of hard work and passion. An exit strategy helps protect that legacy. Whether you plan to pass the business to family, sell it, or hand it to trusted managers, planning ensures your values and culture continue long after you leave.

Without a plan, your business’s future — and your employees’ livelihoods — could be left uncertain.

5. Reducing stress and improving control

Knowing you have a clear plan in place gives you peace of mind. You’ll know that your finances, your team, and your clients will be taken care of, no matter what happens.

It also allows you to make smarter decisions today — because you’re building toward a clear, long-term goal.

Talk to us about planning your exit strategy

At RBizz Corporate Accountants, we help business owners plan for the future — whether that means growth, transition, or eventual sale. Our advisors can guide you through valuation, succession, and financial structuring to ensure your business is ready for every stage.

How to Build a Financially Resilient Business

Wed, 14 Jan 2026 02:44:33 +1100

How to Build a Financially Resilient Business

Running a business in today’s economy isn’t easy. Rising costs, market uncertainty, and tighter tax compliance have made it more important than ever for business owners to build financial resilience.

But what exactly does “resilience” mean in business? It’s the ability to stay strong, adapt quickly, and recover fast when challenges arise.

Here are some smart ways to make your business stronger and ready for anything in 2025.

1. Strengthen your cash flow

Cash flow is the lifeblood of your business. Without consistent cash coming in, even a profitable business can struggle.

Start by forecasting your cash flow for the next 6–12 months. Track all inflows and outflows to spot shortfalls early. Use accounting tools like Xero or MYOB to monitor real-time performance and automate reminders for overdue invoices.

Consider setting aside a small emergency fund to cover at least two to three months of essential expenses — it can be a lifesaver during slow periods.

2. Diversify your income streams

Relying on a single product, client, or revenue source is risky. If that one source dries up, your whole business suffers.

Think about how you can expand your offerings. Could you add a subscription service? Offer consulting or training? Sell online? Even a small diversification can make a big difference in cushioning your business during downturns.

3. Keep a close eye on your expenses

Cost control doesn’t mean cutting corners — it means spending smarter. Review your expenses regularly and eliminate anything that isn’t adding value.

Negotiate better terms with suppliers, automate manual processes, and consider outsourcing non-core tasks. Keeping overheads lean helps you stay profitable even when income dips.

4. Review your business structure and tax strategy

As your business grows, your structure should evolve too. The right business structure can protect your assets, reduce tax, and improve long-term sustainability.

Regularly review your setup — whether you’re a sole trader, partnership, trust, or company — and consult your accountant about opportunities for restructuring or tax planning.

At RBizz Corporate Accountants, we help businesses adapt their structure to changing goals, while staying fully compliant with ATO and ASIC requirements.

5. Invest in technology and automation

Digital tools aren’t just for big corporations. Small businesses can benefit from using software that automates invoices, payroll, and reporting.

Automation saves time, reduces errors, and gives you accurate, real-time financial data — helping you make informed decisions faster.

Talk to us about strengthening your business

Building a resilient business takes planning, discipline, and expert support. With the right financial systems, strategies, and advice, you can stay ahead — no matter what 2025 brings.

5 Smart Tax Planning Tips for Small Businesses

Wed, 14 Jan 2026 02:44:16 +1100

5 Smart Tax Planning Tips for Small Businesses

Tax planning isn’t something you do just at the end of the financial year. It’s an ongoing process that can help you reduce your tax liability, improve cash flow, and grow your business with confidence.

So, how can you plan better and keep more of your hard-earned money?
Here are five smart tax tips every small business owner in Australia should use.

1. Keep your records clean and digital

Accurate records are the foundation of effective tax planning. If your bookkeeping is disorganised, it’s easy to miss deductions or make reporting errors.

Bringing your accounting into the digital age makes things simpler. Using cloud-based software like Xero, MYOB, or QuickBooks, you can automatically record transactions, reconcile bank accounts, and store receipts electronically.

With well-maintained books, you’ll have a clear picture of your business performance — and fewer headaches when it’s time to file your tax return.

2. Prepay expenses before June 30

If you have regular expenses such as rent, insurance, or subscriptions, consider prepaying them before the end of the financial year. Doing this allows you to bring forward your tax deduction, lowering this year’s taxable income.

This is especially useful if you expect your profits (and tax rate) to be higher this year than next.

3. Maximise your super contributions

Superannuation isn’t just a retirement strategy — it’s a tax planning tool. Making additional concessional (before-tax) contributions to your super fund can reduce your taxable income.

Just be mindful of contribution caps and deadlines to avoid penalties. Always check with your accountant before making large contributions.

4. Take advantage of instant asset write-offs

The instant asset write-off allows eligible small businesses to immediately deduct the cost of assets used for business purposes — such as equipment, tools, or vehicles — up to the set threshold.

Buying before 30 June means you can claim the deduction in the current financial year, helping reduce your taxable profit.

5. Plan for the year ahead

Tax planning is not just about saving money now — it’s about setting up your business for the future. Regular reviews with your accountant help identify changes in your income, deductions, and business structure.

By staying proactive, you’ll avoid last-minute surprises and be prepared for any changes in tax legislation.

Talk to us about smarter tax planning

Good tax planning requires expert guidance and forward thinking. At RBizz Corporate Accountants, we help small business owners understand their numbers, minimise tax, and make confident financial decisions.

Get in touch with RBizz today to plan your taxes smarter — not harder.

Save your business time and money using cloud accounting

Wed, 14 Jan 2026 02:44:02 +1100

Save your business time and money using cloud accounting

Keeping on top of your accounts is a big part of running a successful and profitable business. But you don’t want to spend ALL your time dealing with accounting tasks, especially when that time could be spent building customer relationships, or developing new products etc.

So, how do you keep your finances in check, while also spending less time on your accounts?

1. Bringing your accounting into the digital age

Switching to cloud accounting can be a revolutionary step for many business owners, especially when you look at the ways you can streamline and automate the basic accounting tasks. By using accounting platforms like Xero, QuickBooks, MYOB or Sage, you get all the basics of small business financial management, but with the benefits of smart automation.

With most modern cloud accounting software, you can:

Automate the scanning and digitisation of your expenses and receipts
Automatically reconcile your bank transactions with your invoices and bills
Connect your accounts to other time-saving apps for mileage claims or staff expenses.

2. Getting paid faster and with less admin

With a cloud accounting platform driving your business, you also make it easier to send out e-invoices and get paid faster and more effectively. Improving your payment times and cash collection can make a huge difference to your cashflow position, and also sets the right expectations with your customers – making it clear that you require to be made on time.

Using the invoicing function in your business software, you can:

Quickly send out electronic invoices as soon as a job is completed
Set up automated invoices to be sent out at pre-agreed points in a project
Include payment buttons on your invoice, so customers can pay via PayPal or card
Remove the barriers to payment and speed up payment times.

3. Getting a better overview of your important numbers

Using cloud accounting isn’t just about automating the time-consuming financial admin tasks. By recording and tracking all the financial and non-financial data flowing through your system, your accounting platform can actually provide you with a goldmine of useful real-time information.

With cloud accounting providing your reporting, you can

Access totally up-to-date real-time information, to improve your decision-making
Track your performance against targets to see how well the business is performing
Monitor spending and budgets to keep your cashflow under control
Understand your return on investment when it comes to sales and marketing activity
See how promotion has driven sales but reduced your profit, due to discounting.

Talk to us about setting up a more productive kind of accounting

If you want complete control of your finances and business decision-making, updating your accounting software and processes will be key to achieving that goal.

We can help you decide which accounting software is most suited to your business, and how to maximise the benefits you get from automation and real-time data.

Get in touch to talk through updating your accounting.

Borrowing is on the up: how to apply for a business loan

Wed, 14 Jan 2026 02:43:47 +1100

Borrowing is on the up: how to apply for a business loan

Recent stats from credit reporting agency Equifax shows a 3.9% increase in demand for business loans from Australian businesses. This reflects a desire to access funding and to finance new projects, growth strategies or scale-up plans.

So, are you hoping to access additional capital for your business? And, if so, what are the best ways to apply for a business loan?

The key benefits of taking out a business loan

Capital is what drives your business. It’s the cash in the kitty, the assets on your balance sheet and the working capital that allows you to trade, expand and generate good profits.

But as you grow, or take on new projects, you’ll need additional capital to fund this activity. A business loan allows you to borrow money and then repay it at a later date.

Having the funds from a loan allows you to:

Fund your project or growth strategy NOW, rather than later
Invest in the business and move forward rapidly
Demonstrate that you can manage debt.

What actually causes this gender disparity in funding?

A loan can bring your business plans to life. So, with business confidence on the rise and lenders more receptive, now is a great time to apply for funding.

Here are five steps for making a successful business loan application.

1. Research the available market for lenders

The range of potential lenders is wide, with the established big banks, new challenger banks and specialist, online business lenders all offering business loans.

Make sure you read the small print before applying. This helps you understand the impact of interest on your borrowing, the terms of the loan, how long you have to repay the money and the loan eligibility criteria set out by the lender.

2. Check and improve your business credit score

Lenders want to know that you’re creditworthy and a low-risk borrower to lend to. Your business credit score is a major factor in determining your creditworthiness.

Visit one of the major credit reporting agencies to find out your current business credit score. Then take proactive steps to improve your score. This includes paying suppliers on time, avoiding multiple lines of credit and avoiding maxing out your credit.

3. Make sure your finances are in good shape

Banks and lenders want to see evidence of a financially stable business that has the required revenue to cover the monthly repayments on a loan.

Having effective bookkeeping, accounting and financial processes in place gives you the foundation for these solid business finances. Using cloud accounting platforms, like Xero or MYOB, allows you to quickly produce financial statements that can be shared with lenders.

4. Have a clear business plan to demonstrate how you’ll use the funding

It’s important to have a clear business plan that shows exactly how you’ll use the money you get from your agreed business loan.

Make sure you’ve costed out the project or growth strategy, and have revenue projections, budgets and cashflow forecasts that lay out how you’ll use the money – and how you’ll repay the loan over the term of the loan agreement.

If you’re ready to take your next step as a business, we’re here to help you get your finances in shape.

Accessing funding for your female-led businesses

Wed, 14 Jan 2026 02:43:31 +1100

Accessing funding for your female-led businesses

Female-led businesses have much poorer access to business funding than their male counterparts. In fact, in 2024, only 2% of global venture capital funding went to female-only founding teams, according to research by the Founders Forum Group.

The World Economic Forum estimates that, globally, the finance gap for women entrepreneurs is $1.7 trillion, with male-led start-ups and businesses receiving the majority of funding.

But why does this gender disparity exist? And what are the available routes to funding that your female-led business could consider when looking for additional finance?

What causes the gender disparity in access to funding?

Advisory goes beyond compliance. It’s about interpreting financial data, spotting trends, and providing insights to guide decision-making. Advisory services can include budgeting, forecasting, risk management, pricing strategies, and even succession planning.

What actually causes this gender disparity in funding?

Investor bias: A lack of diversity in the investment world leads to unconscious bias, with investors more likely to favour male-led teams over female-led teams.
Networking disparity: Female founders can lack access to the male-dominated professional networks where the majority of funding deals originate, making it harder to find investors.
Perception of industry and scale: Investors tend to fund high-growth, male-dominated tech sectors, while female founders are more likely to start businesses in sectors that are perceived as less scalable or less attractive to venture capitalists.

Historically, it may be more difficult to find the funding you need as a female-led business. But perceptions of female entrepreneurialism are changing, and many institutions are doing their best to address the gender disparity – making it easier to find the funding you need.

Five different routes to funding and how they differ:

1. Flexible loans from specialist lenders

There’s a large choice of specialist business lenders that can offer fast and straightforward access to small business loans.

Applying for a loan with these non-bank lenders is generally faster than applying to the big banks and has less emphasis on traditional business credit checks. Non-banks tend to assess your creditworthiness based on your current and future business performance and ability to repay the loan.

2. Government, local and charitable grants

Unlike a business loan, money you receive from a business grant does not have to be repaid. Grants are usually used to incentivise enterprise within specific areas or industries.

Grants for female-led businesses are offered through a variety of sources, so it’s a good idea to check government and regional websites to check what grants are available. You’ll need to meet the grant’s eligibility requirements to access the funding.

3. Private investors and venture capitalists

Private investors can be a fundamental source of funding when you’re starting your business, or looking to scale up the company.

Angel investors are private individuals who invest their own money into your business, in exchange for equity (usually shares) in the business. Venture capital companies and private equity companies invest in similar ways, but on a larger scale. Any kind of equity investment will mean giving up some ownership of the business (reducing your overall control of the company).

4. Crowdfunding

Crowdfunding platforms, like Kickstarter, give you a way to raise funds through contributions from a large group of interested investors or customers.

You can secure small contributions from multiple individual investors or donors to fund a project, campaign or new business venture. With some platforms, you can also sell your product directly to ‘early bird’ investors, allowing you to raise capital early and boost cashflow.

5. Tax breaks and incentives

Tax incentives are a way for you to lower the overall tax liability of your business, usually through tax credits, deductions or specific industry incentives.

By lowering your tax liability, you’ll end up paying less tax at year-end. This helps you keep more of your profits, giving you more capital to invest back into the business.

Working with you to create a funding strategy

Perceptions of female entrepreneurs are changing for the better. But it’s still vital to have a clear, detailed funding strategy to drive investment in your female-led business.

If you’re ready to kickstart your business, come and talk to our team. We’ll work with you to define your business plan, funding strategy and financial management.

Succession Planning for Aussie Small Businesses

Thu, 18 Sep 2025 10:22:44 +1000

Succession Planning for Aussie Small Businesses

New research by the accounting software provider MYOB has found that nearly half of Baby Boomer SME business owners and operators plan to exit their business in the next one to five years – but with many having no succession plan to guide this exit.

Without a clear exit strategy, the handover from an experienced, mature owner to an ambitious, but inexperienced, younger owner could be a chaotic experience.

Let’s take a look at the importance of a watertight succession plan, and the key elements you should include in this plan to guarantee a smooth transition.

What is a succession plan, and why do you need one?

Your succession plan is a strategic roadmap that outlines how you’ll transfer the leadership and ownership of your business to a new successor.

The plan outlines when the business will be handed to the next owner, the terms and conditions of this sale/transfer and all the finer details of your own exit from the company.

4 essential elements to include in your succession plan

Your succession plan has a number of purposes. It tells you when and how you’ll exit the company. It tells the new owner when they will assume control. And it keeps your management team in the loop. It also provides a timescale for the whole process to take place.

So, let’s take a closer look at the key elements of the succession plan and what you should include in your own exit strategy and plan.

1. The terms of the owner’s exit

This section should clearly define your role after you depart from the business. Explain if there will be any continued involvement, such as a consultancy or non-executive director (NED) role. Make sure you specify how and when the owner will be legally and operationally detached from the business – this allows the reins to be handed over smoothly, without any hitches.

2. The timeline for the transition

A comprehensive timeline should outline the key milestones for the transfer of ownership, responsibilities and knowledge-sharing. This plan ensures you achieve a smooth handover, without any operational disruption and with all stakeholders fully up to speed.

3. Who the business will be passed to (the successor)

Your succession plan must identify the chosen successor, whether they’re a family member, a key employee or a third-party buyer. It should also detail the required training and mentorship that your successor may need. You must also include a clear transfer of authority and leadership from the current owner to the new owner.

4. The financial arrangements for the sale or transfer

This section should outline the valuation of the business and the financial terms of the sale or transfer. Include all the specifics of how the owner will be paid, following the conclusion of the sale. This could be a lump sum, instalments or an equity arrangement.

In helping you plan an effective exit from the business, it’s also important to get strategic planning advice and legal advice when putting your succession plan and supporting documents together.

Could your business survive without you?

Wed, 10 Sep 2025 08:56:38 +1000

Could your business survive without you?

Would your business still thrive, or would it suffer a catastrophic failure if you suddenly stepped away?

It’s tough to remove yourself from the day-to-day operations when you’re passionate and busy. However sudden accidents, illnesses, or family emergencies can – and will – happen and you need to be able to step back knowing your systems are robust enough to cope.

Build in resilience

For your business to work for you, you need to make yourself replaceable. Large corporations have plans in place to mitigate what’s known as ‘Key Person Risk’. But when you run a small entrepreneurial venture, who is the backup?

The more you can train and empower your team to perform the business’s essential daily functions without micromanagement, the closer you'll be able to enjoy a lifestyle business.

Establish repeatable and scalable support infrastructure to run the daily operations and create a great team that you can lean on. Your staff need a common purpose – knowing why what they’re doing matters – as well as clear expectations around their roles. By creating a suitable work environment, where employees both individually and as a team are more efficient and likely to enjoy what they do, you’ll breathe easier knowing they have your back (and your business) in an emergency.

Finally, it’s important to know what the business looks like without you. An exit strategy is often thought of as the way to end a business — which it can be — but in best practice, it’s a plan that moves a business toward long-term goals and allows a smooth transition to a new phase. That may involve re-imagining business direction or leadership, keeping financially sustainable, or pivoting for challenges.

A fully formed exit strategy takes all business stakeholders, finances and operations into account and details all actions necessary to sell or close. Strong plans recognise the true value of a business and provide a foundation for future goals and new directions.

Top Tips:

No one is irreplaceable – Challenge yourself to step away for a week. Which systems fall over? Which procedures get left hanging? Which duties get ignored? Go cold turkey as a test case for the time you may have to leave your business in the hands of others.
Embrace innovation – Get systems that are simple, streamlined, effective and can be used by multiple key team members. Make sure anyone can log in and see exactly what’s needed for what reason at any time.
Recognise the value you’re creating - A business that doesn’t rely on its owner is worth a lot more when the time comes to sell or pass the reins to someone else.

Talk to our team about structuring your business to make it more reliable.