If you’re running a business or building personal wealth, don’t go risking it with the wrong legal structure. As a sole trader or an individual partner in a partnership, your personal assets are completely exposed to business liabilities and asset protection is recommended for every business owner. Most people believe the easiest way to protect their assets is to set … Read More
5 Signs your business structure is wrong for you
Choosing your business structure is one of the most important decisions you’ll make as a business owner. Choosing the right structure can maximise tax opportunities and minimise risk, ultimately contributing to the financial success of your business. Aside from causing operational pain, the wrong business structure can literally cost hundreds of thousands of dollars over the life of your business. … Read More
How to navigate small business growing pains
The growth phase for small businesses, while exciting, can be one of the hardest to manage. But with some smart technology and clever processes, growing your small business can be an exciting transition. There’s a new set of challenges to navigate for every hope of a self-sustaining business. This is the phase when you have a product or service your … Read More
Save yourself a fortune with the right business structure
While not set in stone, choosing your business structure is one of the most important decisions you’ll make as a business owner. It will depend on many factors, for example, the type of business you have, whether you plan to hire employees, join forces with a partner and how you plan to develop your business in the long term. As … Read More
How the wrong business structure can cost you millions
Getting the right business structure in place is one of the most important business decisions you can make throughout your business lifecycle. Unfortunately, without the right business advice it can be an easy mistake to get your business structuring wrong. Aside from causing operational pain, the wrong business structure can literally cost hundreds of thousands of dollars over the … Read More
Staff Status: Contractors vs. Employees
The status of your staff is an important distinction. Whether they are employees or independent contractors, both have consequences for the worker and the business owner. An employee can seem to be set up in the workplace in a similar way to a contractor, but generally employees are supplied with all they need to do their job, don’t make … Read More
The benefits of buying an existing business
Buying an existing business can be a great opportunity to hit the ground running and avoid the disadvantages of starting from the ground up. In a majority of situations, buying an existing business is considered a safe option. You acquire a business that already has a loyal customer base, regular cash flow and hopefully goodwill associated with the business name. … Read More
Landed a big contract? Call your accountant.
Landing a big contract is great news for you and your business. But before you pop the champagne cork you’ve got some thinking (and talking) to do. Increased business = Increased risk. Growing your business means your business increases in value, which also means an increase in risk. Getting the right business advice is crucial when any significant changes happen … Read More
Landed a big contract? Call your accountant.
Landing a big contract is great news for you and your business. But before you pop the champagne cork you’ve got some thinking (and talking) to do. Increased business = Increased risk. Growing your business means your business increases in value, which also means an increase in risk. Getting the right business advice is crucial when any significant changes happen … Read More
Business structures: 4 things every business owner should know
Starting a business is literally building something from the ground up. When you start you need a solid foundation (your business plan) and a structure to build on. Start-ups and businesses that forecast growth or substantial change need to carefully consider their business structure, as it’s much easier to start the right way, than have to change halfway through operation. … Read More