How We Helped Transformed a Once-Struggling Furniture Importer into a Thriving Business
About Client
Our client, a commercial furniture manufacturer who was referred to us by another of our clients, had previously been receiving minimal accounting services from a mid tier firm in Sydney.
Challenge
Their lawyer, also a client of ours, recognised that they were struggling with some of the financial aspects within their business and recommended they make contact with us. Our client was looking for an accountant who can get actively involved in their business and understand the business and challenges it faced.
The Solution
We visited our client’s premises a number of times in the initial period, so that we could fully understand his business and the systems that were used to operate it. This included reviewing stock systems, stock pricing, stock control and valuations, as well as the IT system and the way their firm dealt with foreign currency issues.
Our review identified that the company’s systems and processes needed significant improvement. We also identified a number of potential shareholding issues, and several limitations in the way their business was structured.
We provided our client with a full report on the problems that existed within the business and recommendations on how to solve them. This report also detailed the steps that would need to be taken, and a timeline for completion.
The Results
By taking the time to make multiple visits to our client’s premises, we were able to fully grasp the situation, and the obstacles and opportunities that existed. This meant that we could quickly identify solutions that would overcome several pressing problems, and provide advice that was specifically tailored to address our clients needs.
By proactively dealing with problem areas, such as business structuring and the class of shares held by shareholders, they will be able to avoid significant financial and organisational difficulties down the track.
Now, a number of years later, the business is going from strength to strength, and our client does not have to worry about anything except running the business.
Read More Success Stories
Below are examples of how business owners overcame their main challenges to achieve the results they were looking for with our guidance and expertise.
