Myles was a minor but managing partner in one of the Sunshine Coast’s leading Information Technology businesses. The opportunity presented itself for Myles to buy out his other non-working partners and take full control of the future direction of the business.
To become a master of his own destiny and reap the benefits of all his hard work.
What would be a fair price to pay for his partners’ equity in the business?
How to best structure the new entity?
What would be the best way to finance the purchase then manage the cashflow of the business?
Who would help lead him through the purchase and planning process?
Accounting North provided a comprehensive, personalised solution that helped Myles identify the true value of the business and envision a new business structure. The transition involved liaising with lawyers to establish a contract of sale and prepare a funding application for negotiating bank finance. Planning ahead with a budget and cash flow management system helped ensure success from the outset.
Today, Myles continues a valuable partnership with Accounting North, turning to the team as a sounding board for new ideas.
“You can just call Accounting North up and have a chat to them about a potential idea.
“Sometimes they tell me I’m crazy and sometimes they back me up with strategic detail, but the fact that they truly are a trusted advisor is something that really makes them stand out,” Myles said.
“Accounting North demonstrated real understanding about the challenges of my business and industry.
“Through their cash flow management and flexible funding solutions I could not only afford to purchase the business, but also look forward to growth,” Myles said.
“They continue to provide timely and relevant information that enables me to focus on driving my business.”
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Maroochydore
Noosa
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