When working with start-ups, we look at each new endeavor as a unique ecosystem that must have certain foundational components and ongoing mechanisms to become a sustainable entity. These core “green light” components and mechanisms must be in place in order for management to have a real-time perspective into the financial well-being of the company; and, for investors to see trend lines and burn rates; and, for regulatory agencies to review and validate compliance requirements. No matter how effective any business entity is in setting up these “green light” foundations, each new company will encounter turning points and the always possible fork in the road. It is at these “yellow light” moments where the experience and expertise at Novack CPA can greatly benefit the Start-ups we serve. These “yellow light” moments present us with opportunities, options and regulatory responsibilities. Our guidance is to never deploy a new business knowing that a “red light” scenario will be encountered down the road. At Novack CPA, a “red light” scenario would be working with a Start-up who ignores “green light” foundations, responsibilities and requirements. During those “yellow light” moments, our start-ups can thrive because their foundations are in place and flexible possibilities are more realistic because of their Smart Work Today.
After the business is off the ground, it will be necessary to maintain proper accounting systems, which we can do. Alternatively, we can train your staff bookkeeper to follow process guidelines and then provide monthly, quarterly and yearly statements as required.
We can offer advice on how to hire and lease property and determine the areas of growth in your business. We can also navigate you through any audit and regulatory requirements.
In case you thinking of selling your business, we will provide clear direction and required documentation. Although this is further down the line, it’s important to consider this right at the beginning to make sure that your new venture is established to succeed.