Business Start Up Advice
Helping you build the right foundations from day one, with clear advice, and the right structure.
Starting a new business is exciting, but it also comes with important financial and legal decisions.
At Walsh Accounting, we support new business owners across Portland, the Glenelg Shire and South West Victoria with clear advice, practical guidance and the right foundations from day one.
Choosing the right business structure
One of the first decisions you’ll make is how to structure your business.
The right structure can affect your tax position, personal liability, growth plans and long-term flexibility.
We help you determine whether a:
Sole trader
Partnership
Company
Trust structure
Is most suitable for your goals, now and into the future.
Our Approach
Our focus is on building strong working relationships and delivering advice that is practical, timely, and aligned with your goals.
By understanding your business and local operating environment, we help you make informed decisions with confidence.
Planning for success
A strong business starts with a clear financial plan.
We work with you to develop:
Business plans
Cashflow projections
Budgets
Trading forecasts
These tools guide your decision-making and are essential when seeking finance or investment.
Taking the time to plan properly can help you avoid common start-up challenges and make more informed decisions as your business grows.
We provide practical advice, realistic forecasting and ongoing support to help build a strong foundation for long-term success.
Registrations and compliance
Setting things up properly from the beginning saves time and stress later.
We assist with:
Registering for an Australian Business Number (ABN)
Australian Securities and Investments Commission (ASIC) company registration
Company secretarial requirements
These tools not only guide your decision-making but are essential when seeking finance or investment.
Practical accounting systems
Good record-keeping is essential from the start.
With the right systems in place, you can:
Track income and expenses
Monitor cashflow
Meet reporting obligations
Stay organised from day one
The right systems save time, improve visibility, and support better decision-making as your business grows.
Supporting you beyond the start up phase
Once your business is up and running, we continue working alongside you to support your next stage of growth.
We can continue to support you with:
Ongoing tax planning and compliance
Cashflow management and financial insights
Accounting software support and optimisation
Ongoing business advice as your needs evolve
Frequently Asked Questions
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In most cases, yes. An Australian Business Number (ABN) is generally required to invoice clients, register for GST (if needed) and deal with the ATO. If you are unsure what applies to your situation, we can guide you through the requirements and assist with the setup.
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This depends on your income expectations, risk profile, industry and future plans. Sole trader structures are often simpler, while companies may offer different tax planning and asset protection benefits. We can help you choose a structure that suits your goals and allows for future growth.
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GST registration is generally required once your turnover reaches the relevant threshold. Some businesses choose to register earlier depending on their customers, pricing and expenses. We can help you decide if and when GST registration is appropriate.
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If you are setting up a company, registration with ASIC is required. This includes choosing a company name, appointing directors and meeting initial compliance obligations. We can manage the registration process and help you understand your ongoing responsibilities.
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Not always, but having a simple and consistent system in place early can make managing your finances much easier. If Xero is suitable for your business, we can set it up correctly and show you how to manage invoicing, expenses and reporting efficiently.
Related Services
Explore related services that support your business set-up, planning and early-stage growth:
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Start your business journey with confidence
Starting a business is a significant step. With the right advice and support, you can move forward with clarity and confidence.
If you're launching a new venture in Portland, the Glenelg Shire, or South West Victoria, our team is here to help turn your business idea into reality.