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Succession Planning: If you retire, become incapacitated or even die, who will carry on your business?
Many small business owners overlook the importance of succession planning, but it is vital if you want to preserve your hard work. Who will take over your business? Some of the more common scenarios that can arise when it comes to a business succession plan include: If you co-own your business, you may choose to […]
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SME Commercial Leasing Principles During COVID-19 legislation: what commercial tenants and landlords need to know about the new Code
On Thursday, 23 April 2020, a special sitting of the Victorian Parliament will convene to consider anticipated emergency legislation to address the coronavirus pandemic. It is anticipated that there will be some respite for commercial tenants after the National Cabinet released the Mandatory Code of Conduct: SME Commercial Leasing Principles during COVID-19’ for small/medium enterprise “SME” tenants. […]
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Coronavirus Has Affected My Ability to Meet a Commercial Contract. What Should I Do?
For many business owners with commercial contracts in place, failure to meet those contracts due to pandemic restrictions can be an added layer of stress. Here are some ways that businesses and company directors can explore assistance during this time. 1. ‘Force Majeure’ Provisions in Contracts Many Australian commercial contracts will contain a ‘force majeure’ […]
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Unfair Dismissal at the End of a Fixed Term Contract. What?
Fixed-term employment contracts are common in many workplaces. Understandably, most employers consider they would be protected from an unfair dismissal claim once the term ends. However, in Saeid Khayam v Navitas English Pty Ltd t/a Navitas English (‘Navitas’) [2017] FWCFB 5162 the Full Bench of the Fair Work Commission found that an employee may have […]
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Concerned About Protecting Your Company From Shareholders Disputes? Read This.
Starting a business requires careful planning and consideration. A failure to allow for unforeseen events or for ways to resolve future disagreements could put your new venture at considerable risk. The repercussions of failing to plan are clearly illustrated in a case in the Federal Court between co-owners of the popular Grill’d fast food empire. […]
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Traps to avoid in Commercial Leases
Commercial leases form part of many business transactions and commercial property is a popular investment choice. Whether you are a tenant or landlord, there is much to consider when entering into a commercial lease. Some commercial leases are classified as ‘retail’ and fall under specific legislation operating in various States. With the increase of retail […]
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Business Structures: Partnership
When commencing a business venture, it is necessary to consider the most appropriate type of business structure to put in place. In Australia, there are 4 common business structures – sole trader, partnership, trust and company. Different business structures have different benefits and disadvantages. This article looks at partnerships – how to set one up […]
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Everyone is talking about ‘corporate governance’…. But what does this actually mean?
In recent times the term ‘corporate governance’, and the increasingly popular ‘good corporate governance’, appear to be regular topics of discussion both in the media and the general population. These terms are routinely used when considering the actions of a wide range of companies from very small local companies through to global giants such as […]
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Business Structures: Sole Trader
When commencing a business venture, it is necessary to consider the most appropriate type of business structure to put in place. Different business structures have different benefits and disadvantages. This article looks at the sole trader business structure – how to set up as one and the pros and cons of this structure. Key Features […]
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Directors’ Responsibilities – a Guide
A company is an association incorporated under the Corporations Act 2001 (Cth) (the ‘Act’). The effect of incorporation gives the company a separate entity, distinct from its directors and shareholders. It can enter into contracts, sue and be sued in its individual right. The Australian Investment and Securities Commission (ASIC) is the Government body authorised […]
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