b'ESV 7Doing business in AustraliaCase study: helping businesses kick off in AustraliaLaunching a successful business in a foreign country isBeyond this initial set up stage, there was a growing list of about much more than the initial set-up obligations. Part ofback office requirements, including finance, administration, running a global business is the challenge of maintainingcompliance and reporting.sustainable operations and growth in an unknown businessAs the business continued to grow its operations in environment, which comes with its own set of unique rulesAustralia, ESV operated as part of the local finance and and compliance obligations. administration team, working with the Managing Director This is what one of our inbound clients, a multinationalto manage requirements and deliver regular reports to the pharmaceutical company headquartered in Europe, foundhead office in Europe.when they established their business presence in Australia.We now provide assistance on a range of operational ESV was initially engaged to provide structuring and tax advice for the business, to allow them to take ownership ofissues, including liaising with auditors, completingCase study: a trusted necessary accounting files, budget revisions and tax the distribution of their Australian based goods. compliance. We continue to provide advice on the We worked closely with the business to help them establishbusiness global strategy, including assistance with an appropriate structure, taking into account their strategiclaunching operations in New Zealand 18 months afteradvisor in a foreign goals and the current business environment in Australia.establishing in Australia.We assisted in the setup of a wholly owned subsidiary,Our virtual CFO approach and strategic advice has helped including advice on entities, establishing funding, liaisingensure the business maintains sustainable operations andarenawith banks and employing staff. continued growth.Overseas businesses wanting to establish operations inAfter helping the joint venture commence operations in Australia often face complex challenges as a result of theAustralia we acted as a virtual CFO for the business, unfamiliar business environment. assisting with back office obligations including taxation, Having an experienced team of trusted advisors join yourregistrations, banking and setting up of company books, front line is invaluable in helping your business thrive inpayroll and employee related issues.the Australian market. Without a local expert to guide you,We continued to provide this sort of support until the it is easy to get lost in the compliance and commercialbusiness had grown sufficiently to appoint their own CFO obstacles required to launch your business in Australia. and establisha local finance team.ESV provided a global construction group with this sort ESV provides ongoing business and strategic advice of guidance when called upon to assist in establishing aas the business expands its operations in Australia. joint venture in Australia. We acted as a strategic soundingWe assist with the day-to-day accounting functions, board for the business, helping them to understand theincluding monthly management accounts, annual tax and commercial issues involved in setting up a joint venture. accounting compliance obligations and assistance with We were able to mitigate such risks for the business bytheir audit requirements.providing an intermediary to help manage the relationshipMore than just compliance, we act as a trusted advisorwith the joint venture partner and to promptly deal withsomeone the business can call on to help solve a range of any issues arising from the partnership. complex business problems.'