Liquidation or Trade Out
Liquidation marks the end of a business and can be a challenging and emotional process for everyone involved. It’s a legal procedure that ensures the orderly winding up of a company, with the aim of providing a fair distribution of assets to creditors. It’s important for directors to seek legal and financial advice as early as possible when facing insolvency.
Contractor or Employee?
Misclassifying an employee as a contractor can lead to legal and financial penalties. If in doubt, seek legal advice or use the ATO’s decision tool available on their website for guidance.
Some pre meeting work
This article outlines a comprehensive set of homework tasks for business owners, emphasising the importance of regular financial analysis, market analysis, business plan updates, marketing strategy evaluation, customer feedback, operational efficiency, risk management, professional development, networking, and self-reflection. These tasks are crucial for the sustained growth and success of a business.
Arranging a payment arrangement
Payment arrangements now require more input than in the past as the ATO is looking closely at viability and affordability
Funding your business
The best approach depends on the nature of your business, its stage of development, and your willingness to share equity or pay interest. It’s advisable to conduct thorough research and possibly consult with a financial advisor to determine the most suitable option for your business needs.
Welcome Back
It has been three years since we have been a standalone business it is great to be back. We welcome Pete as a partner of the firm.
Contractor or Employee
It’s important to note that no single factor determines whether a person is an employee or a contractor. Instead, the whole working arrangement must be considered. Misclassifying an employee as a contractor can lead to legal and financial penalties. If in doubt, seek legal advice or use the ATO’s decision tool available on their website for guidance.