Starting a business is exciting. It is also where the most expensive mistakes get made. There is a lot to get right in the early stages: your structure, pricing, tax obligations, cash flow – and most new business owners are learning it all at once.
You do not need to have all the answers before you start. You just need the right support alongside you. That is where a small business startup accountant makes a real difference. At Webb Financial, we work with entrepreneurs and new business owners across Wollongong and the Illawarra to turn a good idea into a financially sound business.
Whether you are a sole trader, a new company, or somewhere in between, we help you build the financial foundation your startup needs to grow.
Whether you should operate as a sole trader, partnership, company, or trust depends on your expected revenue, your risk profile, whether you plan to bring in investors, and how you want to pay yourself. We assess your situation and recommend the right structure, then handle ABN registration, TFN applications, ASIC company registration, and business name setup. For a full comparison of each structure, see our business structure guide.
We register your business for the taxes that apply to you, including GST, PAYG withholding, and PAYG instalments. We explain what you owe, when you owe it, and how to set aside cash so there are no surprises. Many startups get caught out by their first BAS or income tax bill because nobody told them what to expect. Our small business tax guide breaks this down for you.
Clean books from day one save you time, money, and pressure at tax time. We set up your accounting software (we recommend Xero for bookkeeping), configure your chart of accounts, connect your bank feeds, and show you how to keep your records in order. If you would rather hand bookkeeping off entirely, our team can manage it for you on an ongoing basis.
Knowing your numbers is the difference between a business that grows and one that runs out of cash. We help you understand your cost base, set pricing that supports healthy margins, forecast your revenue, and build a business model that accounts for tax, superannuation, insurance, and your own wages.
Most startups do not fail because of a bad idea. They fail because they run out of money. We build cash flow forecasts that show you when capital is coming in, when it is going out, and where the pressure points are, so you can make informed decisions about hiring, spending, and growth.
New businesses can access a range of tax incentives from the ATO, including the instant asset write-off, the small business income tax offset, simplified depreciation, simplified BAS reporting, and research and development tax incentives for eligible activities. We identify which concessions apply to your business and make sure you claim them correctly.
If you are employing staff, you must pay superannuation guarantee contributions at 12% of ordinary time earnings. We set up your super obligations, register you with a clearing house, and make sure your payment schedule meets ATO deadlines from the start. For business owners paying themselves a salary through a company, we also advise on structuring personal super contributions to reduce your taxable income.
Beyond accounting and taxation, new businesses face a range of compliance obligations depending on their industry, structure, and location. We help you understand what is required, from workers’ compensation and payroll tax thresholds to director ID requirements, ASIC annual reviews, and record-keeping obligations. Getting this right early avoids penalties and builds good habits.
We work with startups across trades, professional services, hospitality, construction, and e-commerce. Whether you are launching your first business or your third, our approach is the same. Get the foundations right, keep the numbers clear, and give you the confidence to make good financial decisions as you grow.
We start every engagement with a free consultation. This gives us enough time to understand your business idea, your financial position, your goals, and your timeline.
If you decide to proceed, we scope the work and provide a fixed fee quote before we start. For most startups, the first phase covers structure selection, entity registration, tax registrations, accounting software setup, and an initial cash flow forecast. From there, we move into ongoing support, such as bookkeeping, BAS lodgement, tax planning, and regular check-ins to keep your finances on track as the business grows.
Our process is designed to combine compliance with proactive advice. That means you get the numbers done and the knowledge to make better financial decisions, not just a tax return (or bill) at the end of the year.
Webb Financial was a startup once, too. We understand the economics of building something from scratch, the attention to detail it takes to get the foundations right, and the financial pressure that comes with the early stages. We do not talk down to new business owners. We partner with you.
Your tax, your structure, your bookkeeping, your lending, and your financial planning are all connected. At Webb Financial, we bring accounting, tax, and advisory together in one team so nothing falls through the gaps. As your business grows, we grow with you - from startup setup through to business tax planning, asset protection, and eventually succession or exit.
Our accounting team is led by Andrew Webb, a Chartered Accountant with over 25 years of experience. Whether you are a first-time sole trader or launching a company with investors, you get the same depth of knowledge and attention.
We do not bill by the hour. Every engagement is scoped and priced upfront on a fixed fee basis, so you know what it costs before we start. We never charge for ad hoc contact throughout the year, which means you can call or email with a question whenever you need to without watching the clock.
With offices in Wollongong, Shellharbour, and Ramsgate, we are accessible when you need us. We also work with clients across NSW and Australia using cloud-based accounting software and video meetings.
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Many businesses start as sole traders for simplicity and lower cost, then transition to a company or trust as income grows. We assess risk during your first meeting and recommend the structure that fits your situation now, with a clear path to restructure later if needed.
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We recommend and support Xero. It is the most widely used cloud accounting platform among Australian small businesses and integrates with your bank, invoicing, payroll, and our accounting systems. We can assist with Xero setup and training, configure it for your business, and show you how to use it. If you prefer a different platform, we can advise on the options available.
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This depends on your structure and turnover. At a minimum, you will pay income tax on your business profits. If your turnover exceeds $75,000, you must register for GST. If you employ staff, you must withhold PAYG tax from their wages and pay superannuation. You may also need to register for payroll tax if your wages exceed the NSW threshold. We register you for everything that applies and set up a schedule so you know what is due and when.
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If your startup is conducting eligible research and development activities, you may be able to access the R&D tax incentive, which provides a tax offset for eligible R&D expenditure. Eligibility depends on the nature of your activities and your company’s turnover. We can assess whether your work qualifies and help you structure your claim.
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Revenue is the total money your business earns from customers before any costs are deducted. Profit is what remains after you subtract all expenses, including operating costs, wages, tax, super, and loan repayments. Understanding the difference is critical because a business can have strong revenue and still lose money if costs are not managed. We help you track both from day one.
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Yes. If you are seeking capital through fundraising, bringing in investors, or preparing for a potential acquisition, we can assist with financial due diligence, business valuation, and structuring the deal to protect your interests. For more complex mergers and acquisitions or formal valuations, we work alongside specialist advisers and coordinate the process on your behalf.
The first few decisions you make as a business owner shape everything that follows. Getting them right from the start saves you money, reduces your risk, and gives you a clear picture of your finances from day one.
Your first meeting with us is completely free. We will take the time to understand your business, review your situation, and recommend the right course of action, with no obligation.
Ready to get started? Complete our form below to book your free consultation or call our Wollongong office on 02 4244 4054.
