The Benefits of Running A Family Owned Business

There are many advantages and benefits to running a family-owned business. Family business still thrive in today’s highly competitive economy as most successful family businesses are not only well-founded but also exceptionally well-run. When you are aware of the advantages of being in a family-owned and run firm, it can significantly help your business maximise […]

Tips for Family Business Succession Planning

Running a successful family business is no easy task. The statistics show that in Australia 70% of family businesses fail or sell before the second generation gets a chance to take over. Over 90% of family businesses sell or fail before the third generation gets to take over. Although these figures look dismal it is […]

How Covid-19 Has Changed the Workplace: The Pros and Cons of Working from Home

The covid-19 pandemic has changed the way millions of people around the world work. Working from home rather than commuting to an office space has become the new normal and is a trend that will likely remain common long into the future for years after the pandemic is finished. There are some key benefits to […]

New Shopfront Grants Introduced by The Brisbane City Council

In November 2020, The Brisbane City Council introduced a Suburban Shopfront Improvement Grant to support local businesses. Applications for businesses looking to advantage of this initiate closed on 23rd December 2020. In this current month of February 2021, the Brisbane businesses that applied to receive funding from the city council to upgrade their shopfront are […]

Loan interest for refinancing in partnerships

A general law partnership is formed when two or more people (and up to, but no more than, 20 people) go into business together. Partnerships are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for the debts that business may incur.

Family Farm Stamp Duty Exemption

The Family Farm Exemption allows landowners to transfer land used in primary production to relatives without the imposition of stamp duty. This legislation was introduced to encourage younger family members to stay on the farm and continue running the business

Succession Planning

It is never too early or too late to think about succession planning for your business, however, it is strongly recommended that you start thinking about making a plan from the first day of ownership, regardless of whether you wish to own the business for 3 years or 35 years. Things change constantly in business, so by having a succession plan allows you to prepare for the unexpected, even though the plan may change throughout the years. Nobody wants their hard work and invested time to go to waste when they decide it’s time to step back.

Deed of Company Arrangement

What is a deed of company arrangement? A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors that governs how the company’s affairs will be handled if the company is at a risk of becoming insolvent or has already entered into voluntary administration. A DOCA can be used to […]

A guide to business restructure

After restructuring, your business should become more profitable, organised and strategic – but only if you do it right. Changing any element of your business, such as legal aspects, ownership or operational structure, is referred to as restructuring. It’s a complex process to plan and implement, because it typically involves drastic changes that need to […]

Getting Help – Debt Arrangements

Debt agreements are usually available to people who cannot pay their debts, but don’t want to go bankrupt. They are a binding agreement between you and your creditors that allows you to agree on an amount of money that you can afford to pay over a period of time to settle your debts. Debt agreements […]