Plan and Grow Australia Pty Ltd was founded by Balashankar (Bala) Vattigunta with an aim to support small business owners in successfully growing their businesses. Bala has had over 15 years solid finance and managerial experience working for large organisations such as Blackmores Ltd, Sanofi Australia, Alphapharm, Stryker, GE Capital etc.
Bala is a qualified accountant and a member of IPA . He had completed a Bachelor of Commerce degree from Osmania Univeristy in India, Master of Professional Accounting degree from Western Sydney University and Executive Master of Business Administration degree from University of Technology Sydney.
While working for large companies in their finance and accounting departments, Bala has gained most valuable experience and knowledge that used in those businesses. It is this knowledge that is very important for operating (Plan their growth, mitigate risk and follow compliance) these organisations successfully.
Bala has developed a similar framework after working many years. It is a simple framework but very effective when used concurrently by business owners. He strongly believes that every business should have 3 financial and accounting processes in place to operate efficiently.
- Planning – Businesses should have a planning function in place. This planning determines the business objectives that business owners have for their businesses. It is very important to align business objectives to their personal objectives in their lives. After all, business is only a vehicle that being used to achieve their own dreams and aspirations in life. So, planning should start from aligning those personal objectives and the business objectives. By doing this exercise, business owners could create a vision for their business. Vision provides the drive and direction on daily basis to get out of the bed. As accountants it is our job to quantify those visions and dreams and provide a path in numbers.
- Control – Business owners should have a financial control in their businesses. Once the planning is in place then tracking the numbers and comparing against the plan provides financial control of their operations. By reviewing their important KPIs on periodic basis, business owners can take calculated decisions based on the resources available. There are always a lot of opportunities available in the market place, but it is this financial control that provides the needed check to step back and understand the ROI of every expenditure. Financial control is not possible without establishing a viable chart of accounts and design main categories of expenditure in the business. This requires indepth knowledge and experience of businesses and sound commercial accumen.
- Compliance – At the end of the day, every business need to complied with ATO and ASIC obligations. This is the foundation of every business. One can not take these obligations less seriously. Therefore, priority is given to compliance matters in the business. Things like BAS, Yearly Tax returns, PAYG obligations, Superannuation obligations etc needs to be given utmost importance. Registerd Tax agents and Registered BAS agents are specialists in this area. We work closely with them in ensuring these obligations are met on behalf of our clients.