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+FR2

Questions you might ask yourself here

+FR2 Questions you might ask yourself here

Financial planning is a broad term. If you’re not sure what you might research and plan in this ID, here’s some questions to get started:

  • Is my business idea viable?
  • What are my start-up and ongoing operating budgets?
  • What taxes apply to me? (e.g. income, sales, fringe benefits, capital gains, payroll, land, stamp duty)
  • What are my financial goals and some strategies to reach them?
  • Will I use digital tools and accounting, time-tracking, or payroll software?
  • Will I rely on a bookkeeper or accountant, or do as much as I can myself?
  • What kind of bank account/s do I need?
  • How will I deal with cash? (e.g. currency conversions, cash floats, petty cash, cash books)
  • Do I need help protecting profits? (e.g. diversifying investments to reduce risk)