Business Advice

Buying a business: which is best – an asset or share sale?

Introduction In the sale or purchase of a business, a very important consideration is whether the buyer should purchase the: shares of the company comprising the business; or assets of the business directly from the company itself. This article is focused on the sale and purchase of a business which is operated by a company. For other business structures such as a ...

Why Businesses Fail

Did you know that 97% of all businesses here in Australia are small businesses? And did you also know that over 67% of small business owners don’t make it through to survive their first 5 years? Running a business is not for the faint of heart. Entrepreneurship is undeniably risky. While there are a number of small businesses that perform well and are continuously p...

How to stay ahead of the growth curve in your business

“The greatest thing in this world is not so much where we stand as in what direction we are moving.” Johann Wolfgang von Goethe It’s hard to keep up appearances in your business when the backend is chaotic and stressful. Successful businesses thrive on the hard work of well-oiled business processes, dedicated employees, excellent communication, continuo...

Time for business to champion sensible responses on energy

Today one of our major national newspapers is carrying a front-page story about the ongoing energy crisis and the potential economic risks that flow from political plans based around ideology not reality.   Peter Strong, CEO of Council of Small Business Organisations Australia (COSBOA), responded saying; “Business knows that if you have a problem then you must...

Success is About Discipline and Persistence

If you could sit down with some of the most successful people in business and learn all the lessons of success that they had taken a lifetime to gather. Do you think that would help you to be more successful   What if you could sit down with one hundred of the most successful people who ever lived and learnt their rules, their lessons and their secrets of success? W...

Business Plans: What is the point?

Business plans are not a new concept, most of us have seen them and have a fair (if theoretical) idea of their value. Despite a lot of interest from business owners who seem enthusiastic, what I have seen over the last 15 years is a long way from that enthusiasm. My estimate is that less than five percent ever had a business plan. Gurus and experts love to spruik all sort...

Selling your business due to mounting debts? Not all is lost!

  Many small and medium sized businesses experience regular cashflow problems. It is more common than you may think and it becomes a balancing act, or a poorly choreographed juggling attempt. A clear head is the number one ingredient, not yours, your thinking is hampered by stress. You need someone that offers substantial business experience and sound advice. Don&r...

The Pros and Cons of Borrowing from Family to Buy a Franchise

Although bank interest rates are at record lows in Australia, many potential franchisees still can’t raise the finance to acquire a franchise and are increasingly turning to non-bank lenders, particularly their parents and family members. The Franchise Advisory Centre estimates around 10% of new franchisees are now funded or underwritten by family finance, which it ...

Healthy Workplace

With time becoming an increasingly scarce commodity, employees are now placing greater value on their own personal time. For businesses to prosper, employers need to pay great attention to employee conditions and remuneration. Flexible working arrangements allow a greater choice of ways for employees to access the necessary time to complete their tasks. This shows that t...

What’s your business worth? – It depends on how you slice it

Considering what your business is worth is essential for any business owner in making decisions. But it’s not just good for identifying the purchase price in the event of a sale or acquisition; it can also be used to establish partnership agreements or dissolution, resolve disputes relating to estate and gift taxation or even assist in something as left-field as divo...

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