Choosing the right structure (company, trust, partnership, or sole trader) affects everything—from tax rates to liability and compliance. For example, in construction, using a company structure can offer reduced tax rates (for base rate entities), limited liability protection, and more flexibility when scaling. But there are costs and regulatory obligations to consider.

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When outsourcing payroll, important considerations include regulatory compliance (tax, superannuation, payroll tax), reliability of the provider, data security, costs, and whether payroll processing tools are suitable for your business size and complexity. Outsourcing can deliver consistency, lower risk, and scalability but you need to carefully assess the provider.

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Data is only useful if you have clear objectives for it, measure outcomes, and ensure data practices that enable insight—not noise. Steps include defining what decisions you want to inform with data, investing in tools/skills, improving data literacy across the team, and building processes for continuous review.

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Privacy laws are evolving. Changes include more stringent regulation on overseas data sharing, automated decision-making transparency, and clearer obligations around consent and data handling. Preparing involves reviewing privacy policies, enhancing governance and oversight, ensuring transparency, training staff, and auditing your data flows.

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Key areas to focus on include business structure and governance (to support growth and flexibility), financial systems and payroll/compliance readiness, effective use of data and technology, and staying ahead of regulatory changes. Also, planning is essential—having a robust business advisory partner helps align strategic goals with operational readiness.

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Yes. Different industries have different risks, regulations, and cost-drivers. For example:

• Construction businesses need to think about licensing, safety, compliance, and asset protection when selecting a structure. 
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• Allied health and NDIS-related businesses must manage compliance, payroll, tax, licensing, and applicable changes in health policy.
• Professional services firms may demand strong data governance and privacy practices.
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Business advisory services provide professional knowledge and advice to businesses. These services aim to identify strengths and improve upon weaknesses.

Some key aspects of business advisory services provided at RSM include:

• Profit and growth improvement
• Business and strategic planning
• Business strategy and implementation
• Cloud accounting
• Financial management
• Structuring advice
• Succession and estate planning

In order for the owner to make better decisions, our advisors analyse the finances of the business. The information gathered from this process is organised into reports that are used to determine the financial health of a business. As a business owner, you have a duty to meet your compliance obligations, and a business accountant can help you do that. From assisting with data management, financial analysis, the generation of financial reports, as well as ensuring that your accounting practices satisfy regulatory requirements, business accountants can assist the success of your business.

We work with you to understand your needs, challenges and ambitions – and take a proactive approach to supporting your success. Leverage our fresh insights and perspectives, combined with practical business advice, so you can make critical decisions with confidence - get in touch with RSM today.

Accountants can assist with data management, financial analysis, the generation of financial reports, as well as ensuring that your accounting practices satisfy regulatory requirements.

Although growing your small business will take time and energy, there are a number of steps you can take to help accelerate your business growth, maximise your profits, and manage the risks. 

Consider partnering with RSM to effectively plan for all phases of your business lifecycle. 
Our business advisers can help you start, grow and exit a business on your terms and in your time – equipped with a commercial business plan, expert accounting and tax advice, and a trusted sounding board to work through opportunities and challenges as you progress on your business journey. 

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The connection between cash flow and profit is always interesting, with  Non-cash charges, facility upgrades and revenue items mean there is a low level of correlation between profit and cash flow.

Understanding and managing cash flow requires the insight that can only be gained from advisers who specialise in this area. Our experience in cash flow forecasting and review assists our clients generate the cash flow they need to ensure sustainability of their operations and allows them to maximise the use of any excess cash liquidity.

One of the ways to keep cash flow ticking over in challenging times is to make better use of government incentives and grants. As an example, we often find as business ramps back up from the Christmas break, we see manufacturing clients taking a keener interest in seeking grants and accessing other tax breaks. Government incentives and grant programs can enable businesses to continue to develop new and innovative products and processes.

At RSM, we work with thousands of large and small business owners to help them lay the best possible financial foundations so they can stay focused on a successful future.

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Definition of cloud accounting: Cloud accounting is the practice of using an accounting system that's accessed through the internet.  

At RSM, we provide a full range of Cloud and Digital Advisory services – from helping you select and deploy the best cloud accounting software, to enabling your digital transformation with practical strategies and purpose-built tools.

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SMSF benefits also include the flexibility of borrowing within your fund for investment purposes. Also, some small business owners may hold their business premises within their SMSF for a variety of reasons including asset-protection, succession planning and security of tenancy.   

However, managing a self-managed superfund certainly isn’t easy – there are significant compliance requirements and a whole host of issues that can arise as your fund follows you through the everyday situations that unfold in your business and life.

Our SMSF specialists partner with clients who are seeking expert advice and support to manage an established SMSF. As a dedicated local team, we are only ever a phone call away when you need us.

Learn more about our SMSF services.

Whether you’re a local small to medium enterprise, or a foreign business looking to establish a presence in Australia, hiring and managing staff to fill key business roles can be very challenging. 
Our services provide solutions for day-to-day bookkeeping, payroll administration, accounts maintenance, management reporting, taxation and corporate compliance, forecasting, and advisory needs. Simply put, we can do everything a CFO can do. 
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Successfully transitioning a business from one generation to the next is a challenge even at the best of times.

At the worst of times, it can create conflict that affects relationships within the family for years to come.

While it’s difficult to know where to start, RSM’s experienced advisers will work with you to develop a practical roadmap. We’ll then support you and your family in carrying it out, so you can retire knowing your legacy is protected.

Succession planning can be hugely rewarding when it’s done right. And the earlier you start, the greater the chance of a successful outcome.

You can rely on us for:

- honest, objective advice 
- a practical succession plan 
- business restructuring 
- minimising any tax consequences, as appropriate 
- stakeholder engagement 
- support through the transition 
- estate planning and the dissemination of assets

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A business adviser provides expert guidance to help organisations improve performance, manage risk, and achieve sustainable growth. They analyse your financial and operational data, identify challenges, and offer practical strategies in areas such as tax planning, business structure, process improvement, and digital transformation.

Business advisory services support growth by offering strategic planning, financial forecasting, operational reviews, and tailored advice to help you scale effectively. Whether you're expanding locally or entering new markets, advisers can assist with budgeting, risk mitigation, investment decisions, and process optimisation.

While both roles offer strategic advice, business advisory typically involves ongoing, relationship-based support tailored to the business lifecycle. In contrast, consulting is often project-specific and focused on solving defined issues within a set timeframe. Business advisers tend to have a deeper, long-term involvement with clients.