ArthurMoore

We are currently applying for a 457 business visa, which our agent says we will easily get, but we then have the small problem of actually setting up, or buying a business to meet the visa requirements before we can get our PR.
Trying to start from scratch in a foreign country seems pretty unlikely to succeed, so we are hoping to cash in all our assets and try to buy an existing business.
We would really like to chat to someone who has been through this and faced any of the issues (finding accountants, business agents (how straight? , solicitors, etc etc).
Can anyone help?
Thanks
Art

crabtree

We have also got an application in for a 457IE visa.
I went out to WA and visited Perth, Albany, Mandurah, Bunbury and a few other places to do some research in to setting up a business.
I spoke to a number of Business Brokers most of them were very helpful. (One I didnt trust).
Depending on what you are looking to set up there are quite a lot of business's up for sale.
Solicitors and accountants were also very helpful and appear to work similarly to here.
What part of Australia are you looking at? I may have some contact addresses for you.
What business are you looking at?
I have prepared my own application and fingers are crossed at the moment. You say your agent is confident that you will get your visa. Is that because your business plan is based on your current occupation?

Tony C

ArthurMoore

We are using the Visa unit to do our submission. With the change of rules we had to get it in rather quickly and we did not want to make a mistake and find we could not have another attempt.
We are going to Brisbane and Sydney in March/April to have a look round and to meet some business agents.
My main business is electronic design (television studios) and I hope to continue with that, but I am also hoping to purchase an existing business.
I was interested that you felt that business agents were helpful, as all the postings really flame estate agents and I wondered if business agents were felt to be equally untrustworthy.
The business details that I have looked at (anything non food) seem to vary widely. Lots of them seem to add back an awful lot to get to a Return to Owner (PEBIT) figure which I do not really believe, or do other fiddles such as valuing stock at sales value instead of cost.
I think the key to checking businesses out will be finding a good accountant (and probably a good solicitor) and I wondered how you went about finding these? In the UK you would go by personal recommendation, but not sure where to start in Oz.
Best wishes with your search. What type of business are you looking for?
Art

kevmitch

I'm in a similar position - the IE 457 application is about to go in, with the pre-requisite business plan. (fingers crossed)

I went over to Sydney in December and looked into the possibility of buying a (small) recruitment business. However, the Aussies seem to believe the Poms are all loaded and it seemed to me the sort of turnover and profit multipliers being asked for were excessive.

The one area where there does seem to be opportunity is that of joint ventures, where you can bring an extra (possibly UK/European) dimension to an establishesd Australian/SE Asian business. Interestingly enough and somewhat surprisingly, the requirements for PR (turnover, staff employed, etc) are applied to the whole of the Australian business, not just the proportion relating to your share of ownership - so it could be a quicker way of hitting the thresholds required.

I don't know if you're using a Migration Agent, but they may well be able to help. In our case Alan Collett from GoMatilda has a number of business contacts/advisors who may be able to help

ArthurMoore

I am using a Visa agent and I have also got quite a lot of busines agents through Yellow pages

crabtree

Try these links for business brokers:-

www.biz4sale.com.au
www.auswidesa.com.au
www.venz.com.au
www.chescomm.com
www.csbusinessbrokers.com

Bay Commercial 07 3409 4188
Y2K tel 07 5509 1600 (national business brokers)

For accountants and solicitors, I spoke to estate agents and business owners who recommended people to me.
As the previous poster said your agent may be able to help you.
But it works pretty much the same as here you need someone to be recommended.

We are in the catering business and there is no shortage of business's in that trade.
I also noticed a lot of business's have add backs to help the figures.
I found the most helpfull agents were in the smaller towns where they dont realy specialise in business sales but have the odd cafe or restaraunt for sale (wanting to guard there reputation in a small town no doubt)

Best of luck in your search

Tony C

Grub

Hi- my brother inlaw has just bought a franchise business in WA (Perth). If you want more info then PM me with your email address and I will get you in contact with him- he is pretty hot on the financial side etc.

ArthurMoore

Hi Grub
Tried to email you but admin said you do not accept private mailings. Mine is
[email protected]

Regards
Art

ArthurMoore

Hi Crabtree
Thanks for the web addresses - there are several there that I have not got.
Ifyou want my list let me know
Best wishes
Art

elllis

we are looking for a business in wa maybe a franchise any info would be great

thanks barry

whisky

elllis,

We have bought a business out here in Rockingham.

We have been here since October and bought the business in January.
We have been trading for 12 weeks.

What sort of business are you looking for?

If I can help I will.

Whisky Sue crabtree