Accountants for Starting a Business

Starting a business is an exciting leap, but it can also feel overwhelming. Many entrepreneurs face challenges from choosing the right business structure to understanding tax obligations and setting up effective accounting systems.

At Munro’s, our Perth-based business accountants understand that your business is more than just numbers. It’s your dream, your livelihood and a foundation for future growth.

BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT

Most Popular Accounting Services for New Businesses

Business Setup

 

From $2,000 (excl. GST)

Structuring & Entity Setup Services

Business Plan

 

From $3,000 (excl. GST)

Business Planning Service

Advanced Tax & Asset Protection Strategies Report

 

$4,000 (excl. GST)

Tax Minimisation Strategies Report

Advice from Accountants for Starting 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 starting a business. These apply whether you are starting a business in Perth, elsewhere in WA or across Australia.

People have been coming to us for over 50 years for professional help when starting their business. When you’re ready to talk, book a meeting or send an enquiry.

The Problem

Choosing the appropriate business structure can be confusing. From registering for GST and organising BAS to implementing efficient bookkeeping systems, many new businesses struggle with getting their financial house in order from the start. The sheer volume of compliance requirements can be overwhelming, distracting you from focusing on your core business vision.

Our Solution

At Munro’s, we turn challenges into opportunities by:

  • Providing Tailored Structure Advice: We recommend the optimal setup (company, trust, etc.) to minimise tax and protect your assets.
  • Setting Up Robust Financial Systems: We guide you through GST, BAS and modern bookkeeping to keep your business organised and compliant.
  • Offering Ongoing Advisory Support: Our Perth-based business accountants remain available to you, ensuring proactive cash flow management and strategic planning.

Key Outcomes and Benefits:

  • Lower Tax Liabilities: Benefit from customised tax strategies and small business concessions.
  • Clear Financial Insights: Enjoy real-time reporting and accurate records for better decision-making.
  • Peace of Mind: Focus on growth, knowing our dedicated business accountants have your financial setup covered.

Problem 1: A Worthwhile Venture

Before starting a business, you absolutely must go hard at asking yourself: Is this going to be a worthwhile venture?

Solution
Thoroughly critique the idea/plan.

Outcome
Mitigate the chance of painful failure.

Problem 2: Raising Capital

How are you going to fund the business? What, if any, equity are you going to give away? What additional liabilities and risks are you going to take on? Will you have sufficient cash to survive and thrive?

Solution
Bootstrap, Government grant, Bank loan and/or Angel investment.

Outcome
The dollars you need to get started, survive and then thrive.

Problem 3: Accessing Grants & Special Tax Concessions

Valuable grants and special tax concessions are usually limited based on specific criteria, including the structure of the business.

Solution
Awareness, self-assessment and professional help.

Outcome
Flawless access to R&D Tax Offset, ESIC status, Government grant, etc.

Problem 4: 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 5: 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 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 start 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 Starting a Business

  1. How can Munro’s help minimise taxes for new businesses?
    Our Perth business accountants analyse your financial outlook and recommend strategies that legally minimise your tax obligations. This includes focusing on tax minimisation in the short, medium and long term.

  2. How can I manage cash flow effectively when starting a business?
    We can help you set up forecasting tools and implement practical strategies, such as timely invoicing and expense monitoring, to ensure you always have sufficient cash on hand.

  3. What is the price for your startup accounting service?
    Our pricing is transparent and reflects the complexity of your needs. Please see our pricing page and then contact us for a personalised quote.

  4. What do clients say about your business structuring and ongoing services?
    Our approach has received praise from many business owners and you can read about this in our over 100 5-star Google reviews.

  5. Do you help new business owners Australia-wide?
    Yes. Although Munro’s is based in Perth, our business accounting services are available to business owners throughout Australia.

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

  • ★★★★★ — The Ramsay Family

    Wonderful support and response from the team at Munros. We have been with them for many years covering both business and personal matters. It is a credit to both past and present staff.

    Thank you

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  • ★★★★★ — Jennifer Fox

    A big shout out to Mike and his team at Munro’s for the outstanding work you’ve done on our accounts and returns!!

    From our very first interaction with Mike, we had a great feeling about engaging with Munro’s, and you’ve more than delivered.

    It’s been such a relief to know our business and personal accounts are in such capable hands.

    Highly recommended.

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  • ★★★★★ — Jason Park

    I’m glad my sister introduced me to Carl, he has a wealth of knowledge, great at complex problem solving, always helpful and very attentive. Would give 10 stars if I could.

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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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  • ★★★★★ — Tim Guest

    Had a longstanding relationship with Munro’s for over a decade. Mike has always gone over and above for me and has my highest recommendation. Thank you.

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  • ★★★★★ — Frances Morrell

    Munros have been a wonderful support over the last 50 years. Christine , Simon and previously Barry, have taken tremendous care of all my accounts and have even managed not to laugh at the state of my annual paperwork, that is, when I eventually submit it.

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  • ★★★★★ — Noeline Kellow

    I started working at Munro’s in 1979, spent my life there (besides stopping to have a family) & retired from Munro”s in December 2022. Great place to work & made lifetime friends.

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  • ★★★★★ — Leslie & Joan O'Halloran

    MUNROS what a great team:

    Munros have supported 3 generations of the O’Halloran family from Kojonup over the past 50 years. Starting with Donald Munro when he was Wesfarmers client Accountant.

    We are very grateful for their ongoing support in all accounting matters. Simon, Christine and their team are always willing to help whenever we need it.

    Congratulations on your 50-year celebration. All the best for the future.

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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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  • ★★★★★ — Robynne Richards

    Munro’s are an honest, reliable, on the ball, and personable business. The family feel engendered has been highly regarded by our family for over 40 years.

    Congratulations on a significant and well deserved creditable milestone, with best wishes for what we are sure will be a successful future.

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  • ★★★★★ — Steve Nunn

    Mike and the team at Munro’s have managed our personal and business affairs for over 20 years consistently achieving excellent results. Now in retirement we continue to be totally confident with Mikes advice. Congratulations Munro’s on 50 wonderful Years.

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  • ★★★★★ — Nathan Pintabona

    Professional, insightful and always supporting. Christine and Munro’s has helped me through all avenue’s and queries regarding investment, tax return, property, super and general finance. Really appreciative of their work and highly recommend!

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  • ★★★★★ — Nathan Pintabona

    Professional, insightful and always supporting. Christine and Munro’s has helped me through all avenue’s and queries regarding investment, tax return, property, super and general finance. Really appreciative of their work and highly recommend!

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  • ★★★★★ — Markus Mark

    Munro’s are an outstanding outfit mastering in complicated tax situations and are highly focussed on providing a client centred approach. I presented Saul with a complicated case of overdue tax’s and substantial crypto and share trading activity. To say that he handled this situation with aplomb is an understatement. He resolved my situation promptly and what seemed to be with ease. Sure it is great to have your taxes done by consummate professionals but for me this is not their best feature. It is the customer service that I received that was outstanding and exceeded my expectations. He was extremely patient and dealt with my constant questioning with a great attitude. Always polite and willing to offer his professional advice I sincerely felt like a had an ally in my corner. Saul was a pleasure to work with and I look forward to next years Tax Time.

    Mark.

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  • ★★★★★ — Paul Davis

    Very professional and communicative, will use again next year. Thank you.

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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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  • ★★★★★ — Klaye Morrison

    I’ve used Munro’s for my past 3 tax returns. They are always very responsive to my enquiries and provide excellent advice when questioned. I now have a much better understanding of the tax obligations within my field of work and my investments thanks to them. It’s definitely worth paying for an accountant who knows what they’re doing! Cheers.

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  • ★★★★★ — Jocelyn McPhee

    Congratulations to Munro’s for achieving 50 years in business.

    Special thanks and appreciation to Mike, Barry and the many staff throughout the years who have supported myself and my family with their professional services.

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  • ★★★★★ — Adrian van Bart

    I came over to Australia with a highly complicated cryptocurrency investing and trading portfolio. I never realised that I had to declare this in my tax returns as I had never cashed out into my bank account. I soon discovered that every transaction is taxable irrespective of whether or not you cash out. I contacted Munro’s in an outright panic and was put through to Cherie and explained everything to her. She immediately put me at ease and took control of my situation. From the start it was evident that I was in the care of a real professional tax consultant. I handed her a nightmare on a plate (3 years of highly complicated transactions) and she seamlessly worked through it. Cherie has incredible knowledge and experience and through this, Munro’s saved us thousands of dollars. I will remain at Munro’s until the very end. Thank you Cherie, you are the most knowledgeable and professional tax consultant that I have ever dealt with.

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  • ★★★★★ — Nick & Katy Formica

    We wish to thank Mike & his team @ Munros for their professional help & service over the past 20 years . Having just recently sold our franchise business after 14 years, Mike has guided us through those times with success & helped us to achieve our family goals within our business. Congratulations on your 50th Anniversary. Looking forward to continue to work with Mike & the team in the near future.

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  • ★★★★★ — Stan

    Munros are a quality accounting firm. My accountant Rama is very thorough with his work and attention to detail, I would recommend him to anyone who is involved in cryptocurrencies. Keep up the good work guys 🙂

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  • ★★★★★ — Greg Berlin

    Munros have been doing my family tax returns for the past 3 years, and I’ve been nothing but delighted with the service they’ve offered. They took on a relatively complex set of returns, including sharing of CGT benefits between myself and my partner, and did exactly what I hoped they’d do, and more. Not only that, they always went above and beyond to explain what they have done and why, keeping us happy and at ease at all times during the tax return processes.

    And to top it off, their knowledge of the crypto space is phenomenal, as are the tools they’ve developed to report and get the best possible returns with cryptos in mind.

    Give them a try, I guarantee you won’t be disappointed.

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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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  • ★★★★★ — Boston Whooley

    High quality and professional advise. I would highly recommend Munro’s if you are looking for a quality team to work with.

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  • ★★★★★ — Boston Whooley

    High quality and professional advise. I would highly recommend Munro’s if you are looking for a quality team to work with.

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  • ★★★★★ — Gautam Sathivel

    One of the best decisions we made was switching our accounting services to Munro’s. Especial thanks for Saul and Brian for their extensive knowledge, understanding our business requirement, goals and most importantly keeping us compliant. Extremely happy to engage with this organisation and team.

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  • ★★★★★ — Alex C

    Munros was really helpful in listening to my situation and taking their time in pointing me to the right direction for my complex tax matters. I high recommend their services!

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  • ★★★★★ — Tom Mackie

    Great first experience at Munro’s.

    Thanks Rama!

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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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  • ★★★★★ — 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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  • ★★★★★ — 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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  • ★★★★★ — 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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  • ★★★★★ — Andy & Mary

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  • ★★★★★ — iORGANiC

    I am very pleased to recommend Cherie and Munros. They are friendly, polite, energetic, honest and reliable. We feel in good hands with our taxation and business commitments. We have been delighted that Munros thoroughly understand our business structure and requirements. We are always treated with respect. We feel a sense of integrity infuses the company which is very important. We feel that Munro are up to date with the regulations and knowledge in their field. We have never been let down or kept waiting for an answer. Cherie and Munros have helped with our business forward planning and I would recommend them to anyone who need someone that listens and provides professional solutions without fuss. Thank you Cherie and Munros!

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  • ★★★★★ — Julie Snooke

    Mike assisted with our farm succession planning. Thanks to Mike’s in depth knowledge on this subject, this process has been smooth and amicable. We highly recommend Mike and his team for family business succession.

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