Accountants for Buying a Business

Buying a business is one of the most significant decisions you’ll ever make. Many business owners feel overwhelmed by the complexities, from understanding financial statements and negotiating fair purchase prices to ensuring tax efficiency and structuring the acquisition for long‑term success.

Our Perth-based accountants and business advisors are available to assist you, using their first-hand experiences to help make your journey into business ownership a success.

BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT

 

Most Popular Accounting Services for Business Purchases

Pre-Purchase Sanity Check & Structuring Advice

 

From $2,000 (excl. GST)

Business Acquisition Advice

Due Diligence Advice

 

From $5,000 (excl. GST)

Due Diligence Service

Advanced Tax & Asset Protection Strategies Report

 

$4,000 (excl. GST)

Tax Minimisation Strategies Report

Advice from Accountants for Buying a Business in Western Australia

The rest of this page is dedicated to providing you with an overview of the typical problems and associated solutions with regard to buying a business. These apply whether you are buying a business in Perth, elsewhere in WA or across Australia.

We’ve helped countless people along the business acquisition journey and stand ready to help you. When you’re ready to talk, book a meeting or send an enquiry.

The Problem:
When you’re considering buying a business, questions immediately arise: Are the financials as healthy as they appear? Could hidden liabilities derail your investment? Will the purchase structure suit your future growth plans? Without clear, specialist advice, you risk making costly decisions that could jeopardise your new venture’s success.

Our Solution:
At Munro’s, we take a holistic, problem‑solving approach. We work with you from the initial assessment through to closing the deal. Our process includes:

  • Comprehensive Due Diligence: We review financial records, assess cash flow and identify potential risks.
  • Tailored Acquisition Advice: We guide you through negotiations, assist with business valuation and recommend the optimal purchase structure, ensuring that the business fits your growth ambitions.
  • Tax & Compliance Strategies: Our specialists ensure that every transaction complies with Australian tax laws and that you benefit from available concessions and planning opportunities.
  • Ongoing Support: After the deal is closed, we continue to support you with business advisory and accounting services that help you integrate your new acquisition smoothly, attend to ongoing accounting and tax, and plan for future growth.

Key Outcomes and Benefits:

  • Informed Decision-Making: With our thorough due diligence, you gain a clear picture of the business’s true value and potential.
  • Risk Mitigation: We identify red flags early so that you can avoid costly pitfalls.
  • Optimised Structure: Our recommendations not only protect your investment but also set the stage for tax efficiencies and long‑term business growth.
  • Peace of Mind: With Munro’s by your side, you can focus on the opportunities ahead, confident that you’re making a secure investment.

Problem 1: FOMO

The fear of missing out is so powerful and can lead people to make terrible decisions. Buying a business requires you to put a lot of wealth on the line. You’ve got to think clearly and sceptically.

Solution
Be sceptical.

Outcome
Reduce the chance of buying an overpriced / non-profitable business.

Problem 2: Financing

How are you going to fund the purchase of the business? Do you need extra funds to satisfy ongoing financial obligations? What additional liabilities, guarantees and risks are you going to take on? Will you have sufficient cash to survive and eventually thrive?

Solution
Appropriate funding.

Outcome
The money you need to survive and thrive.

Problem 3: Setup for Future Tax Success

Tax is generally unavoidable, but the amount of tax you pay in the future will be heavily influenced by decisions made now.

Solution
Setup tax planning.

Outcome
Bare minimum tax.

Problem 4: Assets & Liability Protection

Operating a business increases exposures to extra liabilities and requires safeguarding of existing and new wealth as best as possible.

Solution
Basic asset protection + optionally advanced protection.

Outcome
At least the bare minimum wealth protection you should have.

Problem 5: How to De-risk

When arranging a due diligence, you should really follow the classic wisdom: you can’t just look at the iceberg above the ocean surface because there is so much hidden and dangerous below.

Solution
Comprehensive due diligence.

Outcome
Make a fully informed decision and know what you’re getting into.

Problem 6: Going into Business with Others

Whether you’re going into business with family or friends, it’s important to recognise that business life and the stresses it brings will give rise to new and sometimes challenging issues.

Solution
Clearly defined and understood intent with a proactive dispute resolution agreement.

Outcome
Mitigate the potential of messy and costly future disputes.

Problem 7: Setup Bookkeeping in Xero, MYOB, Quickbooks, etc

We cannot stress enough how vital it is to setup an accurate accounting system from the beginning.

Solution
Startup bookkeeping.

Outcome
Clean financial information from the beginning as opposed to a costly, uninformative mess.

Problem 8: Employing People

Employment, tax and superannuation laws impose a heavy burden on employers and you must give this responsibility the attention and care it requires.

Solution
Skilful and pragmatic support with implementing employment basics.

Outcome
Legally compliant employment arrangements.

Problem 9: Business Ownership Education

There is no one who knows everything about business. From the moment you buy your business, you’ll need to continually upskill to meet the challenges. Don’t start from scratch; tap into the knowledge and learnings of others.

Solution
Sprints, blended learning, community insights and coaching.

Outcome
The best leader you can become, as quickly as you can get there.

Frequently Asked Questions for Buying a Business

  1. What are the first steps in buying a business?
    Before proceeding, you should conduct preliminary research, understand your financial capacity (can you get a loan) and arrange for specialist advice. We help you assess whether a business aligns with your growth plans.

  2. How do I know if a business is fairly valued?
    Our valuation process uses multiple methods to ensure accuracy, considering cash flow, assets and market trends. We compare industry benchmarks to determine a fair price.

  3. What if I find hidden liabilities during due diligence?
    Identifying risks early is crucial. We advise on mitigating strategies and this may allow you to renegotiate terms based on unforeseen liabilities, ensuring you don’t overpay for potential risks.

  4. How can tax planning help when buying a business?
    Effective tax planning can significantly reduce your tax burden in the future. We work with you to structure the deal in a tax‑efficient manner, ensuring you take advantage of all applicable concessions and deductions.

  5. Are your services available only in Perth?
    While Munro’s is proudly based in Perth with deep local expertise, our compliance and advisory strategies are effective for businesses throughout Australia.

  6. What makes Munro’s approach different?
    We are known as “The Professional Problem Solvers” because we focus on understanding your challenges and crafting tailored solutions. Our approach is transparent, value‑driven and backed by over 100 Google reviews praising our responsiveness and specialist advice.

  7. How can a business accountant help improve my profit following the acquisition?
    Our specialists don’t just crunch numbers; we provide actionable insights that can help optimise your operations, reduce unnecessary expenses and ultimately boost your profit margins.

  8. What is the price for your structuring and due diligence service?
    Our pricing is transparent and reflects the complexity of your needs. Please visit our pricing page and contact us for a personalised quote.

  9. How long does the buying process usually take?
    Every acquisition is unique. Generally, the process can take several months from initial enquiry to final settlement, depending on whether you’ve already identified a target acquisition, your access to business loans, the complexity of due diligence and negotiations.

  10. Can you help if I’m considering a franchise purchase?
    Absolutely. We have assisted many clients in purchasing franchises by evaluating their financial performance and negotiating favourable terms.

Where To Begin

Get To Know Each Other Meeting

 

FREE (incl. GST)

How We Get Started

Come Along To An Improve Session

 

First Session is FREE (incl. GST)

Upskilling Event for Business Leaders

Munro's, where client service matters

Top 2% ranked Australian Accounting Firm

Play Ranking Explained

  • ★★★★★ — Peter D

    Munro’s are by far the best accounting firm I’ve ever dealt with it. My accountant Carl is very good at what he does and I would highly recommend him and the entire Munro’s team. They provide the most amazing customer service, absolute pleasure to deal with, incredible attention to detail and extremely experienced in all aspects of accounting for business, crypto, derivatives, property etc. I’m confident to say Munro’s have my business for life.

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  • ★★★★★ — J T

    Drew provided clear and detailed advice on my crypto and personal tax matters, making everything easy to understand. Highly recommend!

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  • ★★★★★ — Nicholl & Utley families

    We are 3rd generation clients.
    Munros are more than accountants they have a general interest in the wellbeing of our business.
    Munros are forward thinking business organisers and friends
    We wish them well for the next 50 years

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  • ★★★★★ — Tom Mackie

    Great first experience at Munro’s.

    Thanks Rama!

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  • ★★★★★ — Daniel Stefanelli

    Pleasure working with you guys and one of the best decisions to move forward in our family business with Munros. Utmost professionalism right from answering the phone to all of your advice and support.

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  • ★★★★★ — Traviss Orr

    Thanks Drew and Michael, great job 👍

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  • ★★★★★ — Val McAlpine

    David and I have been loyal clients of Munros for many years—I think since we were married in 1962. David made all the decisions in those early years. I became a more active partner as we worked with Ted Wilhelm and Ian Arblaster until their retirement. We then worked with Christine Prasetia for our financial, accounting, taxation and our wills until David’s death in May, 2017. Christine has patiently guided me through taking up the reins of our business venture. She is very efficient and totally reliable in all our dealings. I feel fortunate to have Christine as my accountant and business advisor. Thanking you, Val McAlpine

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  • ★★★★★ — Faye Sanderson

    Munro’s have helped build our business from strength to strength for over 40 years! No problem or question has ever been too large or too small and all have been dealt with in a timely and efficient manner. Thanks to Simon, Carl and the team for your continual excellent service.

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  • ★★★★★ — Ferrante Alvarezdetoledo

    Happy 50 years !!! I joined Munro’s in 1974 just close to when the accounting firm had started, Don Munro was my accountant at the time and helped greatly in all my various problems and successes and he still remained a very dear friend to me; now Simon Strawbridge is looking after me and I can only praise all the work that he has been doing for me not only in accounting, but also in advising my various legal problems and investments.

    I can only say well done to the whole team and hope that I will still be their client in the coming years.

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  • ★★★★★ — Michael Sasse

    Congratulations Munro’s on 50 years. I think my father must have been one of Donald’s and Barry’s earliest clients. Their names were ever present around the breakfast table when I was hopping on a school bus. I reflected with Christine a few months ago that the most important people in life were my family, my accountants, my GP and and Gough Whitlam. In no particluar order. (Why Gough Whitlam? He gave me a free university education and stopped the Vietnam ballot a year before it was my turn. And I have never voted labor). Thanks to Ian, Melissa, Christine, Noeline and Rama. Ever professional.

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  • ★★★★★ — Shelly Forrester

    At HiscoNFE we use Munro’s for all of our tax and accounting advice and we are always impressed with the quality of their service. The team at Munro’s is extremely knowledgeable, professional, helpful and affordable and Drew in particular is a guru when it comes to anything that involves tax. On the rare occasion where Simon has suggested we get a second opinion for a complex tax matter, the Munro’s advice has always been proven to be spot on! We highly recommend the team at Munro’s and we are very grateful for their support over the last 10 years. Sincere thanks from the owners at HiscoNFE!

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  • ★★★★★ — Maneesha Kulasekera

    I highly recommend Munro’s for their brilliance and hard work. Saul, Sanjay and the Munros team are highly capable and passionate in their dealings with their clients and have been a strong pillar in navigating through my Taxes and Accounting over the past few years. They are exceptionally knowledgeable in their field of expertise and up to date with the latest policies/requirements and very easy to work with as they understand the client’s needs. I want to express my sincere gratitude and thanks to especially Saul and Sanjay for their professionalism, great advise, friendly attitude and major efforts in assisting me with my Taxes/ accounting. I couldn’t have asked for a better team than Munro’s.

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  • ★★★★★ — Maneesha Kulasekera

    I highly recommend Munro’s for their brilliance and hard work. Saul, Sanjay and the Munros team are highly capable and passionate in their dealings with their clients and have been a strong pillar in navigating through my Taxes and Accounting over the past few years. They are exceptionally knowledgeable in their field of expertise and up to date with the latest policies/requirements and very easy to work with as they understand the client’s needs. I want to express my sincere gratitude and thanks to especially Saul and Sanjay for their professionalism, great advise, friendly attitude and major efforts in assisting me with my Taxes/ accounting. I couldn’t have asked for a better team than Munro’s.

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  • ★★★★★ — Nicole Smith

    My husband and I were looking for some advice on a short time frame with regards to purchasing a piece of farmland. We had an offer in hand and a peculiar clause that we needed advice on. Adam Carter was prompt, detailed and courteous in all dealings with us. He helped us meet our deadline, understand the consequences of each available option and now establish our small farming enterprise. We cannot thank him and the team at Munro’s enough. Highly recommend their services.

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  • ★★★★★ — Tom Robson

    Drew and the team have been excellent from the day we began our journey with Munro’s. They’ve always been prompt with communication and provide advice that is clear and easy to understand. We’ve been very happy with their service over the last 3 years and look forward to working with them into the future. Thanks Drew, Nick, Simon and Carl!

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  • ★★★★★ — Paulo

    Excellent accounting service with a deep understanding of tax implications for SMSFs.

    I was very impressed with Munro’s accounting service. Before I engaged with Munro’s, I met with accountants across Australia, but I decided to go with Munro’s because of their breadth and understanding of taxation.

    Brian from Munro’s was able to quickly and efficiently complete my 2023 tax returns, and also provided additional advice and expertise on how I could better structure my affairs.

    Originally, I briefed Munro’s to wind back my SMSF due to the administrative burden of managing it. However, Munro’s was able to clearly understand my affairs and prepare the tax documentation in a way that reduced the administrative burden. I was so impressed with their service that I decided to continue with the SMSF after all.

    I highly recommend Munro’s to anyone looking for an accounting service with a deep understanding of taxation and SMSFs.

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  • ★★★★★ — JD Duv

    I highly recommend Drew Pflaum at Munro’s for any matter relating to property, crypto, business tax, etc. I’ve recently met with Drew and he was very diligent and knowledgeable in explaining the best possible options/solutions I have available for my business. Drew is definitely the go-to person for any complex tax matters.

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  • ★★★★★ — Suthee Saisuwan

    Crypto trading is a new thing and I believe, just like many others I had made lots of mistakes not knowing that trading Crypto is a taxable event. Lucky, there is someone knowledgeable about this matter.

    Great education and support in this challenging time I have received from Drew the man!

    The level of communication is top, accurate and precise. They put their heart into the work to help out their client. Highly recommend if you are seeking a Crypto tax return service.

    Thanks Drew the man and Michael.”

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  • ★★★★★ — Boz

    Huge thankyou to Drew, Rama and the whole Munro’s team. Great service and easy to deal with. Was an absolute pleasure. A+

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  • ★★★★★ — Dawn Phillips

    Munro’s have been dealing with our taxes for a couple of years now, and have always been right onto anything to do with crypto and any other aspects of the industries we work in. Always friendly, helpful and professional.

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  • ★★★★★ — Graeme Bassett

    We are delighted with the friendly, knowledgeable and efficient service Simon and his team provide.
    We have tested Simon’s patience and humour over the years but he has always managed to come through with a smile.

    Thank you to Simon and his team!

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  • ★★★★★ — Tom Eldred

    I was clueless when it came to processing my taxes for crypto, having a few years worth to file. Drew and the team were very thorough with their process and made it so simple on my end. Well worth the service.

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  • ★★★★★ — Ginny Wu

    Josephine and the Munros team have looked after our accounting affairs for more then 10 years. I am incredibly pleased with the quality of the service they provided. They are professional, trustworthy and patient all the time. Highly recommend Munros.

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  • ★★★★★ — Jeff Hoffard

    From QLD was searching for a accounting firm that could easily handle all my tax dealings including crypto transactions and Carl has been very helpful always just an email away to sort out any concerns I might have.

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  • ★★★★★ — Jeff Hoffard

    From QLD was searching for a accounting firm that could easily handle all my tax dealings including crypto transactions and Carl has been very helpful always just an email away to sort out any concerns I might have.

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  • ★★★★★ — FK aus

    Munro’s provided me with the exact accounting and tax advice I needed. I highly recommend Munro’s to anyone who is searching for a professional accounting firm that goes the extra mile to help their clients.

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  • ★★★★★ — Reuben Crocker

    The team is very responsive to emails and their communication is good. I was dealing with Brian and Saul.

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  • ★★★★★ — Ivan

    They know what they are doing. No matter how complex your accounting is, Munro’s is the way to go. They also have international experience. Drew and Mike’s expertise and responsiveness won’t disappoint you.

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  • ★★★★★ — Moira and Don

    Munro’s have been our accountants, both for business and personal, for 50 years.  During that time we have been really happy with the work done for us.  The personel have always been professional, welcoming and efficient form the person at the front desk who greets you, to the people who handle your work.

    Congratulations and best wishes for the future.

    PS It does help that Simon supports the right footy team but he is not as good at tipping as he is at accounting!

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  • ★★★★★ — Ben Soules

    Excellent advice with very skilled accountants. Not too expensive, for such a specialized and sophisticated service. Committed to the customer, always very professional and helpful. Highly recommended!

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  • ★★★★★ — Alex England

    I was recommended to use Munro’s as I had a number of well overdue tax issues to have resolved. All was promptly taken care of and with a far better outcome than I had anticipated…great work Josephine! Highly recommended!

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  • ★★★★★ — Bev Margetts

    Mike has been most helpful and professional with our accounting, superannuation and taxation affairs. We had transferred some years ago from a less than professional person and now very pleased to be with Munro’s. Congratulations on 50 years and best wishes for a long and successful future.

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  • ★★★★★ — Matt Mckinley

    Drew, Simon and the team at Munro’s have been our family and business accountants for many years now. They provide excellent service and advice. We would not hesitate to recommend them to others.

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  • ★★★★★ — Michelle

    Drew has been exceptional. Very knowledgeable, easy to understand, timely with his responses, he came in to bat for us when we needed someone to do that. Highly, HIGHLY recommend.

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  • ★★★★★ — Louise Maguire

    I required some complicated advice from a business accountant on an urgent matter. It involved legal issues and advice as well as accounting advice.
    I contacted Drew Pflaum of Munro’s via the website, and he got back to me very promptly.
    Drew showed that he was well able and indeed very keen to think outside the square.
    Nothing was too much trouble and he has some very valuable professional contacts that he is able to consult with if needed.
    With Drew’s obvious intelligence and honesty coupled with an enviable network of contacts, and his keen desire to achieve the best results possible in a timely manner, I have no hesitation in recommending him for any sort of business accounting advice.

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