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.
What you’ll find in a company search?
An ASIC company search is a key resource for due diligence, competitor analysis, or assessing the financial health and compliance of a business entity in Australia. It provides transparency into a company’s operations and is a valuable tool for investors, creditors, business partners, and other stakeholders.
What happens at a preliminary chat
This article offers an overview of what new business advisory leads can expect during a preliminary chat with a business advisor. It outlines the key areas of discussion, including understanding the business, identifying goals and challenges, discussing financial health, operations, market position, future plans, and setting expectations for the advisory relationship. These discussions are essential for establishing a productive and beneficial advisory engagement.
Reading your contracts
In essence, contracts are fundamental to the operation and protection of your business. Reading and understanding them thoroughly ensures that you are aware of all terms and conditions, thereby protecting your business from unexpected legal and financial risks. If you are unsure about any aspect of a contract, it’s wise to seek advice from a legal professional.
What information do you want from your reports
Your financial statements are more than just numbers – they tell the story of your business’s financial performance and position. They help in identifying strengths, weaknesses, opportunities, and potential threats. Regular review and analysis of these statements are crucial for strategic planning, securing financing, attracting investors, and guiding your business towards sustainable growth.
Getting ready for a business planning session
This article provides a comprehensive guide on preparing for business planning sessions, highlighting the importance of clarifying objectives, gathering relevant data, conducting a SWOT analysis, reviewing past performance, engaging team members, preparing questions and discussion points, setting a realistic agenda, and mental preparation. These steps are crucial for ensuring productive and effective business planning sessions.
What’s our Business Coaching Service?
Business coaching is a holistic approach to improving a business. It’s not just about improving the bottom line but also about developing the business owner both personally and professionally. A good business coach brings out the best in a business owner, helping them realise their potential, overcome challenges, and achieve their business goals.
Cost Rationalisation in Your Business
Cost rationalisation is not just about cutting expenses; it’s about smartly allocating resources to maximise efficiency and profitability. It requires a careful balance to ensure that cost-cutting measures do not negatively impact the quality of your offerings or the morale of your workforce. Regular review and adaptation are key to a successful cost rationalisation strategy.
Understanding your business
Understanding your business is a multifaceted process that requires continuous effort. It involves a deep dive into financials, market dynamics, internal operations, customer insights, employee engagement, and much more. By regularly reviewing and analyzing these areas, you can make well-informed decisions, adapt to changes, and steer your business towards sustainable growth and success.