Highlights of what they have achieved so far: 

        Business: 

• Business has grown 300% within 30 months. 
• Peace of mind by having proper insurance, business compliance and agreements in place. 
• Personal and business tax benefits. Having implemented the necessary changes to restructure and maximise tax benefits. 
• Saving in reduced contracting work by spreading workloads among existing staff (rather than outsourcing). 
• Growing their asset base- The V-iA Team is continuously investigating suitable opportunities for Joe and Sara to grow their asset base. The purchase of a suitable commercial facility is a prime example of achieving this goal. 

         Personal: 

• Work-life balance 
  • Joe is no longer works on Saturdays  
  • Sara quit her part-time work and now is devoted to their own business 
• Able to plan well ahead for personal enjoyment and business tasks. 
• Maximum funding for both into superannuation. 

Joe and Sara have a solid base to continue growing their business while enjoying balanced family life with their children. 

How Values-inspired Advocacy (V-iA) helped them to achieve such great business success?  

V-iA was introduced to married small business owners, Joe and Sara, a few years ago by an existing client. Their business was transitioning from semi part-time and, as demand was evident, bloomed. They began to realise they needed professional help and direction to achieve their personal and business goals. 

To ensure V-iA fully understood Joe and Sara’s circumstances, many questions were asked about their business, plans for growing the business, accumulating personal wealth and their aspirations for the future. With a young family, work-life balance was unearthed as a major concern. 

V-iA supervised and oversaw important priorities for these clients: 

• Orchestrated the review of insurance covering their business, property, vehicles and personal protection, with any gaps being adequately filled; 
• Orchestrated the review and compliance with Workcover for the business and employees; 
• Organised for MYOB Accounting system to be established and for an expert to train Sara in all MYOB related areas and particularly the newly introduced STP Payroll system. Sara now manages the MYOB system making all necessary entries and only requests assistance when necessary; 
• Introduced business strategy, both short and medium-term, including sales forecasts and expense budgets; 
• Organised and facilitated monitoring of outgoings and inflows with regular monthly reporting. 
• Oversee compliance matters – BAS, Tax, Workcover, etc. 

With plans to grow the business, Joe on his own accord decided to purchase a complementary business from a sole trader and reorganised it by purchasing new business-related assets and machinery, and increased overheads by appointing a well-paid manager. V-iA monitored the performance of both divisions of the business. 

Income generated from the newly acquired business ultimately proved to be only moderate, the financial figures highlighted reoccurring losses for a number of months. V-iA’s business tracking, assessment of the Covid-19 impacts and slowdown of the Victorian economy prompted Joe to accept the recommendation to immediately close the non-performing business. 

V-iA arranged for excess assets to be sold without further losses. 

Following a review of a pre-existing property portfolio, incorrect ownership structures were remedied and V-iA supervised an SME property advocate to locate a suitable commercial premise to house the business. V-iA arranged the entire process monitoring the solicitor, financier and engagement with the new body corporate. 

A sub-tenant was found to rent surplus floor space, and V-iA facilitated a solicitor to draft an appropriate lease and arranged for the insurance broker to structure cover across Joe’s interests, the sub-tenant business and the body corporate’s policy. 

In response to federal and state government Covid-19 incentives, V-iA ensured the accountants and Sara punctually made applications for available packages to receive all support funding. 

During the lockdown, Joe and Sara were counselled to focus on planning to restart the business and organise employees on the first day restrictions were lifted. This ultimately resulted in a forward order book for four months of work. 

Joe and Sara are planning the future of the business in a positive manner - they are forecasting the growth of their business and a need to increase staff numbers. 

This is a real story, only names are changed to protect privacy. Whatever your circumstances, you too can be helped to realise your full potential by receiving the most appropriate assistance to realise your desired outcomes. 

If you believe you have a challenging situation and would like to have a free confidential conversation with us, please complete the following details and we would be more than happy to give you a call: 

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