Start-Up

Whether you are a seasoned entrepreneur or opening your first business, your success will be the result of the seeds you plant during the start-up phase. Your list of steps runs long – hiring the right team, finding a great location, marketing your unique products or services, making sure you have the investment and working capital to make it all happen, and so much more. Proper implementation of these items can be the difference between your competitors being envious of you or them not knowing you exist. But beyond these key start-up decisions, far too many new business owners overlook the absolutely critical planning and implementation required in the areas of accounting, tax, and finance.

KMSS has decades of experience in working with new entrepreneurs, including:

• Choosing the most effective ownership (both from a tax and creditor proofing perspective)
• Ensuring proper registration and reporting with tax authorities
• Implementing your accounting system, using best-in-class software options
• Assisting in setting up relevant and timely financial reporting to enable you to keep a pulse on your business from the day that it first opens
• Providing other consulting services, such as cash flow planning, business plan review, implementing fraud management plans, and providing advice on financing alternatives

Optimization

The growth and optimization stage of a business often spans many years and involves continual monitoring of key performance indicators, cash flow, financing availability, market placement, and other important strategic decisions.

KMSS can assist you in all areas of your business during these prime years of ownership. Whether your intention is to take your current successful business model and expand it into other locations (physical or online), or perhaps you are satisfied with the size and market you currently have, and simply wish to optimize your financial model – KMSS can be your partner in achieving your goals.

Some of the many services we can offer to businesses of all sizes:

• Compilation engagements, review engagements, or audits, depending on the size of your business, and what your stakeholders require (i.e. bank, shareholders)
• Tax compliance (regular filings, assisting you when CRA or other tax authorities initiate audits)
• Tax planning and reorganizations
• Advisory services tailored to specific decision making (i.e. whether to expand or sell a business segment, optimal ownership and financing structures, lease vs. buy decisions)

Succession

As you reflect on your achievements, the hard work and late nights, and all that has gone into the taking the entrepreneurial plunge so many years go and ending up with a successful enterprise – you realize it’s time to consider the next steps. Perhaps you will be readying the next generation to take over, or maybe you are looking to sell – regardless, the planning should start many years before actually passing the torch.

As you consider the future for you and your business, we can assist you with:

• Tax planning prior to transition (i.e. without proper planning, business owners can miss out on lucrative tax savings when transitioning or selling)
• Enacting a wealth preservation tax plan – minimizing tax while maximizing access to cash once you no longer are an active shareholder in your business
• Estate planning – what if something unexpected happens to you before your transition occurs?
• Transaction advisory services, including assistance with business valuation, sell-side due diligence, and working with you from the day you put your business up for sale, to the day you close on the deal