Perfect accounting for new business

Polly and Lu started Sage Cosmetic Coaching at the end of 2017. The company is in the natural cosmetics industry but has a unique business model where they host workshops teaching people how to make their own skincare. With such a niche market sector, they needed to be confident that their financial management could support them through their development phase. Lu explains:

“We started the business with only a small amount of capital, but we quickly began to build a great client network and a wonderful collaborative community. 

We partnered with various workshop spaces around Sydney and found ourselves watching our bank balance grow.

Changing accountants isn’t always easy. There is a lot of important information that needs to be handed over and it’s critical that the change doesn’t impact the business. Lu says:

“We were lucky that the transition to North Advisory was very smooth. We simply told our previous accountant that we were moving on, and the team did the rest. We only had a few months’ worth of transactional history, but we still wanted to make sure that nothing got lost.

We were already using Xero, so everything stayed the same there, but we immediately saw a higher level of service.

Now if I have questions about payroll or super or our BAS, I simply send an email through and it’s answered really quickly.

Today, Sage Cosmetic Coaching continues to grow, and Polly and Lu are negotiating investment opportunities with potential new business partners.

Lu says that the relationship with North Advisory and the business advice they receive are particularly important in helping them feel confident about the decisions they make.

“We would never consider taking on investors unless we discussed it with Marius first. His business advice has become so important to us, and we know that he always has our best interest at heart.