Risky Business - How Rowe Partners help clients to be more successful by mitigating risk.

Some would say that in business “you’ve got to risk it to get the biscuit” and to an extent this is true. Any start-up, scale-up, or business innovation involves risk and requires a process of balancing that risk against potential reward. Even established businesses are not immune. So, what are the risks?

There are many risks that you might face in business. When you face them, and to what extent you factor them in, varies depending on many factors such as what type of industry you’re in, the overall economic climate, competition, etc. As accountants, we look at risks through our professional lens within the context of your business and personal goals, and the operating environment. There are a range of other risks that need to be managed but are not generally within the remit of your accountant. They pertain to the business operating environment, competitors, reputation, politics, the economy, and natural disaster mitigation. Your Rowe Partners team will often be aware of them and be able to refer you to others for help.

Rowe Partners help you manage the following business risks;


Cash flow and associated credit risk is probably the greatest risk to the business enterprise. It’s essential for your business finances and bookkeeping systems to be set up in such a way that you have access to the funds you need, when you need it for paying supplier invoices, staff wages and superannuation, equipment repairs, loan and insurance payments, phone bills, marketing and promotion, support services, rent, transport, etc.

Probably the biggest things people get stuck with here are GST and taxes. Essentially as a GST Registered business you are collecting GST on behalf of the Government and sending it to them each quarter. We see many businesses early on get caught out as they spend the cash in their bank accounts without setting aside reserve funds to pay GST to the ATO when it’s due. The same occurs with income taxes. When you are a wage earner, the employer is responsible for withholding money for tax each pay and sending it to the ATO on your behalf but when in business, you are responsible for doing this. You need to put money aside yourself, particularly in the first year of operation. Not accounting for these things properly can bring your business undone early in its life.

Working closely with your Rowe Partners accountant throughout that financial year will ensure that there are no nasty surprises. We support business in many ways.

  • Rowe Partners offer a range of services and solutions to assist with cash flow. This in turn helps to protect your business credit position and establish a positive risk profile with financial lenders, government agencies, suppliers, and even staff ensuring you have access to the resources you need to service your customers, invest, and grow.

  • Regular contact with your Rowe Partners accountant incorporating thorough financial check-ups will help identify potential issues early.

  • When BAS lodgements and End of Year reports are due, these are great checkpoints we use for review and discussion.

  • Where we have set your business up with Xero Cloud Accounting, we keep an eye on your financial position. Having this connected to your bank accounts helps keep an eye on your cash flow.

  • When your day-to-day business bookkeeping is managed by our business bookkeeping team, accounts payable and receivable, staff superannuation is all handled for you ensuring cash required for smooth operation is on hand.

  • Ask us how Dext can streamline your record keeping and help improve cash flow.


Running a legally compliant enterprise is critical for success. The last thing a responsible business owner ever wants is to be caught up in a costly, lengthy legal battle or be forced to pay heavy fines, lose valuable momentum, or give competitors the edge, and incur financial losses that can result from reputational damage and brand tarnishing. The best way to avoid compliance risks is to engage a team of expert advisors.

Our team at Rowe Partners Accountants and Business Advisors are known for our thorough knowledge of financial compliance requirements, be they business or personal finance matters.

Compliance covers simple requirements including;

  • Tax deadlines

  • Payment due dates for Business Activity Statements and Superannuation Guarantee Payments.

  • Business registration – Australian Business Number (ABN) and Australian Company Number (ACN), Business Names,

  • ASIC – business name registrations, legal structures, authority to conduct business (e.g not Bankrupt or convicted criminal)

  • Documentation, maintain financial records, reporting, legal structures, and company constitutions

  • Benchmarking and ISO – International Organization Standardization

  • FBT and GST – Fringe Benefits Tax and Goods and Services Tax



Accountants can play an important role in helping clients develop and implement their business strategies. Rowe Partners Accountants & Business Advisors provide expert strategic management accounting services. We can help you set financial goals, forecast cash flow, and manage tax liability, determine risk, negotiate commercial rents, create strategies for acquisitions and mergers, manage growth, wind down, and develop succession plans in preparation for retirement. At the start-up phase, we can help you to set up the best legal business structure to suit your business objectives.



Taxation risk varies from having to deal with an unexpectedly large tax bill and ensuring funds are available to pay them, paying more tax than you are required to do, knowing what tax rules apply, when and where to apply them right through to fines for noncompliance with ATO legislation.

Naturally, taxation is our main game. Business tax is the core of what we do. For businesses operating in Australia, this may include some or all the following taxes - Capital Gains Tax (CGT), Goods and Services Tax (GST), Company Tax, Payroll Tax, and Land Tax.



When an accountant talks about resources, we are referring to financial resources (liquid assets, loans, and grants), human, business stock, education, technical resources, machinery, and transport logistics for delivering goods, human resources – all the critical things that a businessperson needs to run their business. Our job is to help you ensure you have continued access to resources by helping you run your business profitably and efficiently.


The best person to speak to about complex legal matters is always your lawyer but accountants are specialists in taxation law and legal business structures. Here are some points to note.

  • The Rowe Partners Business Support Services Team has in-depth knowledge of legislation relating to many complex matters including Fair Work, payroll, business, and personal tax. For example, as of 1 November 2021, the minimum wages for 21 awards are set to increase because of the Fair Work Commission (FWC) Annual Wage Review 2021. If a business owner is not aware of these legislative changes, how and under what circumstances the changes are to be applied, they can inadvertently open themselves to legal and financial risk.

  • Talk to your Rowe Partners accountant or our Business Bookkeeping team if you’re unsure of where you stand on payroll, staff entitlements, or staff superannuation-related matters. Call 1800 04 7693 for more information.

  • Rowe Partners also have a general awareness of other laws that may affect you and will from time to time refer you to other services for appropriate legal and technical advice. Where there is a crossover, we can work with your other professional advisors or institutions such as the ATO, financial planners, banks, and/or lawyers to achieve objectives and solve any problems that may arise.

  • It’s important to ensure you stay in the good books with the ATO but it’s not always easy. Our team here at Rowe Partners will work with you to make sure you meet your obligations and remain compliant in your dealings with them.

So, when thinking about business risk and your exposure, consider conducting a regular SWOT (Strengths, Weaknesses, Opportunities & Threats) analysis, This is a great planning tool that will help you to be on the front foot and identify where you need to focus. Where risks relate to any of the financial aspects of your business, Rowe Partners' accountant can work with you to put systems and processes in place to mitigate them.

Don't let unrecognized or poorly managed risk undermine your business's success. Contact Rowe Partners on 1800 04 7693 today.