Smart Business Centre (Nelson) Ltd
As the driving force behind Smart Business Centre (Nelson) Ltd, Alison Blanchett Sax is more than a seasoned accountant – she’s a trusted advisor and advocate for local businesses. With a passion for demystifying finances and empowering entrepreneurs, Alison and her team bring clarity and confidence to their clients. This month we sit down with Alison to talk about how the right business structure can save time, stress, and money.
In your view, what’s the most important first step for someone starting a new business?
Get advice first. It’s important to have the right business structure before you start your business. This could be setting up a company, running as a partnership or sole trader. Setting up the structure first does save time and money down the track, and getting the right advice on the structure is vital.
What can work well for one business may not work well for another. Don’t compare your business with another, talk to professionals to establish the best business structure that suits your needs.
What are the most common challenges you see small businesses face, and how can they overcome them?
Business owners are fantastic at their trade, which is why they went into business. One challenge can be the bookwork side of a business, accounting for GST, tax and understanding how the business is tracking with its profit. We help train our clients to empower them to understand their business, tax and profit; and provide tools to make it easier for them. Clients are encouraged to save for tax from the outset, as paying tax can also be a challenge. If you save for tax each month then when the tax bill comes in, the payment isn’t so daunting. If you are struggling to save for tax this is a sign it’s time to see your accountant.
What’s the biggest myth about running a business you would like to bust?
Expenses that you can claim against your business income. Many people think they can claim many things, but under tax law that may not be the case. Also, every business is different, so what one business may be able to claim as a business expense, another business may not. It’s always best to get advice that is specific to your business, so you are making the most out of your expense claims and doing it correctly.
What’s one piece of advice you’d give a business owner feeling overwhelmed or stuck?
Call us. You are not alone. We can suggest tools to improve efficiencies in your business which can take away the feeling of frustration and being overwhelmed. Having someone else look over the business and listen to your worries can help solve the problems you are facing.
What services do you offer beyond traditional accounting?
We want to get to know our clients and their business. We provide bespoke advice specifically relating to their business, not just a broad perspective. And it’s about empowering our clients to understand their business and succeed.
