A great number of steps are required to successfully acquire a business and make it profitable, including:

• Due diligence: Making sure “the books are accurate”

• Market assessment: making sure there’s potential for the business

• Business case development: Having a clear long-term plan to drive business growth and profitability

• Securing financing

Similarly to acquiring a business, starting a business from scratch requires careful planning across a number of critical steps, including:

• Market assessment

• Business case development

• Securing financing

While not always the most exciting topic, bookkeeping is crucial, especially if you’re starting your own business.

If it’s a US-based business, you don’t necessarily need a Certified Public Accountant (CPA) initially for daily operations, but you might need a bookkeeper and/or a bookkeeping system to keep track of your business’ financial transactions, like revenues, expenses, invoices, and more. This will help you prepare accurate financial statements. Accounting professionals can be hired to prepare annual tax returns and advise on tax implications.

We are here to help you understand these questions and all the nuances related to the market your business operates in, and to help you find the right resources to keep the company’s finances running smoothly.

At Ockham Finance, we can help you run and grow your business beyond the financial side of things.

1. Developing long-term growth objectives and strategies: Define an aspirational yet realistic picture of where you want to be in 3-5 years, and what are the key strategic levers to bring it to life.

2. Developing a yearly plan and tracking against it: We help you setup your business planning and reporting cycles, where you set shorter term objectives, allocate resources, approve projects and setup reporting KPIs (key performance indicators) to track progress.

3. Transforming your business: Sometimes, you need to disrupt the way you operate to set you on the right course, e.g. changing your organization, your key systems, processes or even your go-to-market strategy.

4. Having the right team and capabilities: As your business grows and your strategies evolve, make sure you have the right people with the right capabilities in place to handle the challenges.

We are here to help you every step of the way. Our consultant expertise ranges from startups to multibillion dollar Fortune 50 companies.

Congratulations on starting your business! Now, let’s make sure it runs smoothly and efficiently. Here are some steps to get you started:

1. Set clear budgets: Determine how much you’re spending on sales, admin, labor, marketing, and other expenses.

3. Create financial models: Build models that allow you to see how different scenarios and growth rates might impact your finances.

4. Prepare financial reports: Make sure your financial reports are clear and transparent, so you can share them with your partners and investors.

We are here to help you every step of the way. Our consultant expertise ranges from startups to multibillion dollar Fortune 50 companies.

Doing business entails tax implications that extend beyond annual tax filing in the country where your business is established. It encompasses various other matters, including:

•     Selecting the most suitable business entity structure to optimize your taxes. This includes evaluating the most advantageous entity type based on your operational needs (e.g., pass-through entities, corporations, subsidiaries).

•     Determining any cross-border tax implications that may arise based on your place of residence vis-a-vis the location(s) of your business.

•     Ensuring compliance with complex international regulations. Our expertise covers transfer pricing, withholding taxes, US sales and use tax, and other critical compliance areas. 

These are just some examples; let us work with you to identify these implications and advise you on different potential solutions and trade-offs.