BCL Globiz was featured in Gulf News’s exploration of what makes UAE businesses resilient over the long term, alongside insights from A&A Associate, AURION, Smart Zone, MCA Gulf, MICS, and Shuraa Group. BCL’s Partner & CFO Mr. Punith Jindal spoke to the financial fundamentals that separate businesses built to last from those that stall, arguing that the corporate structure a founder chooses at incorporation determines their tax and Transfer Pricing position for years to come, and that automated accounting and reporting need to be in place from day one, not bolted on after problems surface.
Punith Jindal, BCL Globiz Accounting & Consulting LLC
“Resilience is decided early, usually before the first invoice,” says Punith Jindal, Partner & CFO, BCL Globiz Accounting & Consulting LLC.
He believes the decisions made at incorporation can shape a company’s financial position for years.
“The structure you choose at incorporation determines your tax and Transfer Pricing position for years, so get it right the first time.”
He also stresses the importance of establishing accounting and reporting systems from the beginning. “Set up proper accounting and automated reporting from day one, not after the chaos starts.”
Perhaps the most critical lesson, however, lies in understanding liquidity.
“We have seen profitable businesses run out of cash simply because they could not see it coming. Build governance early too, even a light version. The founders who treat financial fundamentals as the foundation, rather than an afterthought, are the ones still standing when the market tightens.”
Cash flow visibility allows businesses to make informed decisions, identify risks early and respond with agility during periods of uncertainty. It also creates confidence among investors, lenders and business partners who increasingly expect organisations to demonstrate operational and financial maturity.
Governance as an investment
As organisations grow, complexity inevitably increases. New employees, customers, suppliers and markets bring opportunities but also greater responsibilities and risks.
This is why governance should never be viewed as something reserved for large corporations.
Featured in : Gulf News – Top business set-up consultants and tax advisories on building a resilient business
