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Competitor overview
Estimated Customers
Pricing
Goal
The main goal of ATO's business viability assessment tool is to help businesses determine if they are financially viable and capable of meeting their creditor commitments.
In short
ATO offers a tool to assess the financial viability of businesses based on financial performance indicators, aiming to help businesses determine their ability to survive and meet creditor commitments.
Description
The ATO's business viability assessment tool is designed to help businesses evaluate their financial health and determine if they are viable, meaning they can fulfill financial obligations and continue operations. It requires businesses to input financial data such as profit and loss statements, balance sheets, creditor and debtor listings, and repayment amounts. The tool provides a viability report based on this data, indicating whether a business is trading viably. The tool is primarily informational, offering an overview rather than a comprehensive analysis, and advises seeking professional financial advice for detailed assessment and planning.
Provides a business viability assessment report to determine if a business is financially viable.
Helps businesses understand if they can sustain themselves financially during tough times.
Offers insights into business financial health which can inform decisions about future investments or changes.
The ATO's tool specifically addresses the financial solvency aspect of business viability, which is crucial for businesses struggling with debts and financial commitments.
The ATO provides direct support for businesses that have defaulted on payments or failed to meet obligations, offering tailored advice and solutions.
The tool is integrated with the ATO's services, thus providing seamless access to business taxation, financial data, and compliance information for Australian businesses.
The ATO tool requires detailed historical financial data, which might not be available or relevant for startups or new business ideas, unlike ACHIV which is designed to support early-stage idea validation without such requirements.
The ATO's tool focuses primarily on financial and solvency assessments, lacking the comprehensive, multi-faceted data analysis and market insights that ACHIV offers for business idea validation.
The ATO tool is designed for existing businesses primarily within Australia, which limits its applicability to global startups or those seeking international insights, unlike ACHIV which aims to provide broader market research capabilities.
