ABOUT WIKRAMANAYAKE & CO
We commenced our practice in the 1980's in a climate when the top personal tax rates were 60%, the corporate tax rate were 49%, but the regulatory regime was so lax that paying tax was optional. The long lunch was tax deductible and was part and parcel of everyday business.
Since then we have witnessed a complete overhaul in the tax system, and a comprehensive change in all aspects of business regulation, and the creation of a tough competitive, and sophisticated business environment.
In the 1980's we sold our interest in a mid tier accounting practice to concentrate on operating our own businesses in hotels and property development. We steered our family business though recessions, when the banks were severe and rapacious towards small business. Interest for business lending rose to 22% even with property security, and liquidation and bankruptcies were rife. Survival was dependant on skillful management of cash flow.
In our projects pages we have set out our property development and business management skills that we have demonstrated over a variety of industries. We ran these projects simultaneously with our accounting practice. What these projects demonstrate is:
- an ability to recognise the potential in an underperforming business
- to make significant improvements in the business through improved services, and staff management.
- to be across the industry specific issues and regulations that are needed to run a business successfully.
- Understanding the impact of having the most beneficial terms of finance and the correct business structure
- Positioning the business to market it to maximize our return on sale.
In the conduct of our business we have been faced with many issues such as industrial relations. When have an understanding of the issues that small business faces because we have firsthand experience of staff joining unions to take us to the industrial courts. In banking parlance we have had "skin in the game"
Our principal focus in the development of our accounting practice is to embrace technology and bring the efficiencies to communication and access to information that is now available in ways that are without precedent.
We are a small practice with only two partners and out point of difference are that we offer:
- A personal service
- Vast business experience in all aspect of commerce from banking and commercial litigation to taxation and superannuation.