Businesses can fail for a range of reasons, many of which are obvious. There are, however, a number of (perhaps less discernible) factors that frequently and unwittingly contribute to the failure of businesses. We’ve listed some of these below – don’t say we didn’t warn you! 1. Putting all of your eggs in one basket continue reading
It can be easy to romanticise the process of taking over an existing business. You’ve probably got plenty of ideas about changes that need to be made, and you can’t wait to get in there and start putting your own touch on things. While there’s nothing wrong with being enthusiastic about your new venture, it’s continue reading
Trusts have become an extremely popular tool in business and personal asset protection and tax minimisation strategies. A common misconception with a Trust is that it is a legal entity in the same mould as a person or a company. People will often say “my trust owns this” or “my business is a trust”. Whilst continue reading
In every workplace, there are times when you can feel drained or stressed, and it is often at those times that motivation levels start to dwindle. Re-inspire yourself and your workplace with these 5 great TED Talks. #1: Shawn Achor – The Happy Secret to Better Work We believe we should work hard in continue reading
In some circumstances, company directors may be held personally liable for company debt. Such circumstances include where a company owes monies to the ATO under the Pay As You Go withholding system (PAYG) and/or pursuant to its Superannuation Guarantee Charge obligations (SGC). In the event a company fails to pay any amount of PAYG and/or continue reading
Whether you are an artist, designer, inventor, or just all-round creative genius, your ideas are your most important asset, and you need to make sure they are being looked after. Because no matter what stage you are at in your creative career, it’s never too soon to break out of the starving artist cliché and continue reading
Avoiding a nightmare before Christmas: Tips for Employers when planning your staff party Did you know that employees attending work Christmas parties are generally considered to be acting in the course of their employment? That means you could be held responsible for any injuries or inappropriate behaviour that may take place, especially where free-flowing alcohol continue reading
Selling Out Most entrepreneurs fantasise about the day that they will be able to sell their business and cash in on their success. While it might be easy to get caught up daydreaming about those plans, the reality is that there will be a lot of work involved if you want to ensure a smooth continue reading
Value of IP Most businesses have intellectual property (IP), even if they don’t realise it. It could be something as exotic as the Colonel’s Secret Herbs and Spices or as simple as your client/customer list. Brand and online data have rapidly become the most important assets of successful modern businesses. The days of owning vast continue reading
The Meat and Potatoes of Commercial Dispute Mediation: According to Sajen’s Honey Badger When it comes to the mediation of commercial disputes, Honey Badger don’t care about ‘the principle’, Honey Badger don’t care about rights or values, and Honey Badger don’t care about ‘right and wrong’. Honey Badger do know what matters.. If you are continue reading
Restraint of Trade Clauses: Protect the Cash Flow and Confidentiality of Your Business Restraint of trade clauses are a useful tool for protecting the cash-flow and confidential information of the employer. They are commonly found in employment contracts, often disguised by a different title, e.g. ‘no competition’, ‘non-solicitation’, ‘no poaching’ or ‘confidentiality’ clause. They generally continue reading
How would you know if the physical assets of your business were stolen? Apart from the occasional item flying under the radar, it’s fairly easy to keep track of your physical assets through regular monitoring and stocktakes. After all, you’d probably notice if something important went missing, right? While this may be true for your continue reading
Too often we see clients hamstrung by lease terms that they were not aware of when they signed up. As a commercial tenant you may feel like you have limited bargaining power when negotiating the terms of your lease. This is far from true. Reviewing lengthy lease documents can be a tedious task, but if continue reading
Do your wages add up? All employers should make note of the 2.5% increase to minimum wages which will apply from 1 July 2015. Check out the Fair Work Ombudsman’s update for more details: https://www.fairwork.gov.au If wages are left unchecked, not only can underpaid staff members come back to bite you for large lump sum continue reading
Have you ever had an idea which you thought was totally original? Have you gone on and done a bit of research, only to find out that it has been done before? Maybe you have started humming what you thought was an original melody, only to realise it was actually a song you heard on continue reading
The term “branding” originates from the practice of marking cattle with a branding iron to differentiate them from the stock of other farms. But the concept of branding as we understand it today is far removed from those humble origins. Brands are no longer limited to a logo or name; branding comes in many shapes continue reading
The forces of good prevailed over those of evil yesterday. It doesn’t happen every day, but it is heartening to know that just occasionally the system works as most fair minded people think that it should. We had recently been consulted by a lady who some 7 years ago resigned her position as a director continue reading
A Trade Mark is a sign used or intended to be used to distinguish the goods or services you sell and promote from those goods or services sold or promoted by your competitors. Under Australian law a Trade Mark can be registered with IP Australia (the government authority responsible for the administration of laws relating continue reading
The post Christmas period is a notoriously difficult time for many small businesses. The excesses of the festive season are compounded not only by customers with their hands in their pockets but December’s production was cut short by holidays and Christmas party hangovers. Sadly, for some businesses those difficulties can be precursors to total failure – insolvency. continue reading
Cash flow is one of the, if not most, vital aspects of business success. It is the lifeblood of any business. Your business can be insanely profitable, on paper, but without cash flow it can still be insolvent. The ability to pay all its debts as and when they are due is fundamental. And of continue reading
