Case study: Cost of acquiring a client
The business was an online jewellery retailer, with a strong business brand and a high margin business but it was struggling to make money. As we pulled through the financial statements, it became clear that the cost of acquisition for a customer (marketing, promotion, referral commissions, brand ambassador and marketing production) was substantially greater than […]
A moral obligation to pay
A recent discussion with a broker he articulated that our client had a moral obligation to repay a debt. We questioned this in the context of who our client owed a duty to, and what was the morality that is expected with a loan. Our client had borrowed money at over 12%, and we were […]
What is a garnishee notice?
Garnishee notices can be issued by a variety of creditors however they are quite regularly used by the ATO as a method of collecting outstanding tax debts. The ATO issues the notices pursuant to Section 206-5 of the Taxation Administration Act 1953 and the notice allows the ATO to collect its outstanding tax debts by […]
Succession planning for family businesses
For many business owners, the objective is to pass a profitable and successful business through to the next generation, but this is not something that simply happens and the planning you undertake for a business sale should be similar to transferring a business within the family group. If you are a business owner, you may […]
Finding the next big thing
A confession from the past, my mother went on holidays in 1996 and I was assisting her in the shop, in came a salesman with the newest stock, I was convinced that it would be the best seller ever and ordered 100 of these rings. Today she still has 99 in stock and keeps them […]
Navigating the insolvency maze
For small businesses looking at their options the path of insolvency can be one that has many directions and lots of turns. Getting advice is the key, as what may seem the simplest option may actually have unforeseen or unexpected outcomes. Issues such as personal and director liability, cross collateralisation, personal guarantees or aggressive terms […]
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Who does the broker work for?
We recently came across a strange situation where we questioned who the broker actually works for when things go awry. The scenario was that our client had borrowed money from a third tier lender, and their business was placed in liquidation, at the same time, the broker proposed a lending package that would cover the […]
Signs of decline in the motel industry – food and bar offering
Over the following few weeks we will be running through what we see as a terminal decline in the motel industry and more specifically in rural areas. As a starting point we are looking at the food and beverage aspect of the motels and the lack of profitability that these aspects of the business. Historically, […]
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