Grow Your Business With PayrollBD’s Business Advisory Services
PayrollBD advises companies operating in Bangladesh on the decisions that sit above daily operations: structure, financing, controls, and where the business goes next.
What does business advisory cover?
Business advisory is the work of measuring how a company is performing against its own plan and advising on what to change. It covers financial review, internal controls, financing routes and the structure the business trades under. It is advice rather than execution, and the decision stays with you.
The questions to be answered are agreed in writing before the work starts, so both sides know what the engagement covers. Where a question needs a specialist outside that agreement, we say so rather than stretch the brief to fit.
Who is business advisory for?
The service fits a company that has a decision to make, rather than a task to hand over. Four situations account for most engagements, and they are set out below. Where the question is really an accounting or tax filing task, we point you to that service instead.
- Small and medium companies that need a business plan written, a financing route mapped, board level advice, or a financial model built and tested.
- Companies carrying a risk they can name but have not yet costed or planned around.
- Groups that want an outside reading of performance before a board or investor meeting.
- Owners weighing a structural change who want the options set out before deciding.
How does an engagement work?
An engagement opens by naming the question to be answered, the papers needed from you, and the date the work is due. Everything that follows is measured against those three things.
Billing is by contract or by the hour, settled before work begins. Where the answer turns out to sit with another service, we point you to it rather than bill for it here.
How long an engagement runs follows the question rather than a fixed term, so some close in a few months and others run a year. What does not change is that the questions were agreed in writing at the start, and everything we hand back is measured against them. The advice is ours; the decision stays with you.
How do we match a consultant to your question?
Cost is usually the first question an owner asks, but the more useful one is which decision the advice is meant to support. The points below are what we weigh when matching business advisory to a company:
- Whether the company’s size and stage match the consultant’s actual experience, rather than a general reputation.
- Which systems the business already runs on. We work with cloud based payroll and accounting platforms, so advice on process change is given against tools the company can actually adopt.
- How the advice will be recorded, so a decision can be traced back to the basis it rested on.
- What happens once the engagement closes, and which papers stay with you afterwards.
What should you compare before choosing an adviser?
Whatever the project, what an adviser has done before matters more than what they say they can do. We match consultants to the question rather than to the sector, and set out the basis for every recommendation so you can weigh it yourself before acting on it.
Which services are included?
Twelve service lines sit inside a business advisory engagement. Which of them apply to your company is settled in writing before the work starts, so the scope is known on both sides. Anything outside that list is agreed separately rather than assumed.
1. General business advice
2. Management issue resolution
3. Financial review and planning
4. Internal controls review
5. Private financing support
6. Banking relations
7. Corporate restructuring
8. Business strategy planning
9. Forward business planning
10. Dispute resolution support
11. Valuation services
12. Benchmarking services
Frequently Asked Questions
These five questions come up before most engagements begin. Each answer states the position first and then explains it. Where the answer depends on your business plan rather than on a fixed rule, we say so instead of quoting a figure that would not hold. Reviewed by Eicra Binte Islam, HR Admin, PayrollBD
I have a small business, I want consultation to increase revenues and profits. Can you help me?
We have the best business advisory specialists on hand, as well as technology that is specifically suited for the situation. It takes time to grow a small business, but we can help you achieve your goal ahead of schedule if you are a committed business person.
Why should I use a business consulting firm?
As a business expands, owners pay less attention to the aspects of the business that directly affect sales. Therefore, our Valuation Advisory Services of business advisory do the hard work of consistently looking after your business operations.
What is the minimum contract period?
Depending on the business plan, the contract can be for a year or just a few months for a business advisory. It will take as long as it takes to achieve your desired result.
Will you provide tax consulting services for my business?
Yes, our business advisory most definitely will. You can find all details on the Tax Consulting Services page.
How much do you charge for the business advisory services?
We accept contract based payments as well as hourly rates. However, it widely depends on the business plan and requirements. Kindly contact us for a detailed discussion.