IPitch Articles Archive
Setting up a company
By Guest Author on Thursday, December 16th, 2010
This article was written by Shelston IP, IPitch’s Legal and Intellectual Partner.
Companies seeking to operate within Australia are registered by the Australian Securities & Investments Commission (ASIC). Usually, a start-up company can be established by either acquiring the shares in a shelf-company already registered with ASIC or by directly applying to ASIC for registration of a new company.
Seek advice on what company type best suits you
Start-up companies are commonly proprietary companies limited by shares. This is because such companies are private companies designed for a relatively small number of members and are therefore well-suited for the purpose of commercialising newly developed technology. However, a proprietary company limited by shares will not always be the most appropriate vehicle to commercialise intellectual property. Professional advice should be sought before deciding what company type best suits you.
Information required for registration
An application to register the company may be made by any person who will be a member of the company. The following information must be provided when applying for registration of a proprietary company:
Setting up accurate accounting and bookkeeping from the start
By Guest Author on Monday, December 13th, 2010
This article explores why setting up accurate accounting and bookkeeping from the start is so important. It was written by Emile Koskinas, CPA Qualified Accountant and Director at IPitch’s Accounting and Bookkeeping Partner, Your Empire Business Services.
How many times do you see advertisements from accountants and bookkeepers that use the catch lines “ATO called again?”, “BAS is late?”, “I made profit, but have no cash”.
It’s an all too familiar occurrence in many businesses, irrespective of their size and industry.
Many owners believe that in the early stages of a business keeping a close eye on their bank balance, they have a good “gut feel” for their business and how it is performing. Yes the bank balance does provide an indicator of performance, but it’s a lag indicator, that is, it’s the end result. More importantly, business owners must understand the lead indicators that will affect their bank balance.
