Case Studies

Start-up assistance: How our team assisted Recordati to set up business in Australia

Recordati sought start-up assistance and business advice from our team in July 2018 when they were looking to establish a branch of their global organisation in Australia.

The start-up requirements for their business in Australia differed greatly from their set-ups overseas. Australia’s legal system differs from others and there is a unique set of legal frameworks that must be adhered to by businesses.

Recordati wanted to work with a business that had on-the-ground knowledge as well as global expertise on business set-up in Australia, as well as direction around sustainable growth.

We helped Recordati by reducing the initial start-up costs and supported them to turn over a significant profit in the Australian market in just a few short years.

Supporting a significant global entity in the Australian market

Recordati is an international group dedicated to the research, development, manufacturing, and marketing of pharmaceuticals, with a focus on treatments for rare diseases.

Christina Manfre, our Business Advisory Partner and start-up specialist in Sydney, was appointed to lead Recordati’s expansion into the Australian market after a referral from PKF Singapore. Christina has significant industry experience navigating the Australian tax system and Australian start-up space, which she used to ensure this start-up had continued success as a significant global entity.

Christina has extensive experience advising and supporting global businesses in establishing subsidiaries in the Australian market and working with the Australian tax system. Her skills and knowledge allowed her to provide Recordati with the assistance they needed to succeed.

We offer a full-service capability, but we are still a small enough firm to maintain close relationships with our clients. This gives us a competitive advantage over other, larger firms, Christina said.

As a significant global entity, it was important for us to establish a strong relationship with the team at Recordati to ensure all their needs and obligations were meeting the requirements of the Australian tax system.

Christina’s work and experience is diverse. From start-ups to mature companies, she has seen success delivering specialised financial and business advisory throughout a range of industries. Her work includes delivering financial modelling, establishing global entities in the Australian market, advising, implementing and restructuring tax plans, meeting local and international financial reporting obligations and implementing and updating business accounting processes and systems.

Ensuring Australian tax system obligations are met

Christina has continued to provide ongoing support to Recordati from day one, ensuring they meet all the requirements needed when establishing and growing their business in Australia. She provides ongoing management accounting work, year-end tax compliance, cash flow forecasting, and other advisory work.

I find it very exciting to be with clients from the start. I know it sounds a bit cheesy but being on that journey with them and supporting their start-up needs is important to me, Christina said.

Additionally, she works with the international Recordati team to produce international tax reports as required for groups with an annual turnover greater than $1 billion.

I am always proactively looking for innovative solutions to my individual and business clients’ needs. Throughout all stages of the financial and business lifecycle, I aim to work closely with clients to become their long-term trusted adviser.

Assisting in Recordati’s start-up success

With offices in 150 countries, PKF’s international reach, partnering with our Australian presence gives us strength in supporting global businesses to expand into a local market. We have both business and financial expertise on a local and global scale, meaning we understand how global markets affect local operations and vice versa. Our team has the know-how to provide start-up assistance that is unique to your industry and business while supporting you through meeting your obligations under the Australian legal and tax system.

Recordati is just one of many businesses we’ve helped to establish and find growth in a new market in a way that is sustainable and in line with their goals.

For specialised, start-up assistance, get in contact with our team of experts today.

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