Supporting Small Business Owners with Business Advisory
It was a real pleasure for me to be able to attend the special Premier’s Lunch recently, put on by the Sutherland Shire Chamber of Commerce, with the guest of honour being the NSW State Premier, The Hon Chris Minns, MP. As advocates for growth and business turnaround, the OBP team decided to support the […]
Successful Restructuring of a Business Facing an ATO Wind-Up with Daniel Friskin
“People that treat their businesses as an extension of themselves… do not understand that there is intended to be a separation of your personal affairs and your company affairs, and it is one of the biggest reasons that we see businesses failing. It’s very important to understand that your business is an asset, it is […]
5 Reasons Why Businesses Fail – with Liam Bailey and Nathan Rigney
“People that treat their businesses as an extension of themselves… do not understand that there is intended to be a separation of your personal affairs and your company affairs, and it is one of the biggest reasons that we see businesses failing. It’s very important to understand that your business is an asset, it is […]
What is Insolvent Trading?
And how does it personally relate to you as the Director of the Company? It’s important for directors to realise that they have a number of obligations and duties when acting as Directors of a company, in particular, how to prevent the company from trading whilst insolvent. Section 588G of the Corporations Act says that […]
Recognising the Insolvency Warning Signs in Your Business
Today we are talking about recognising the warning signs of insolvency in your business. The rising cost of living crunch, rising interest rates, rising prices, business difficulties, labour etc, are all putting pressure on your business. You need to recognise these signs so you can take proactive action if required. It is essential that you […]
If my property is in my spouse’s name, is it safe from my creditors?
One of the biggest misconceptions in insolvency law and administration is the notion that if your property is in your spouse’s name, it is safe from your creditors. Speaking with legal expert, Stipe Vuleta from Chamberlains, he re-iterated the point that this is a common misconception, and something that most people get wrong. In Stipe’s […]
Small Business Restructuring: Empowering Directors in the Business Restructuring Process
In times of financial distress, small businesses often seek ways to reorganize and overcome their challenges. Small business restructuring offers a viable solution by allowing directors to take control of their company’s financial affairs and implement necessary changes for recovery. This article aims to explore small business restructuring and sheds light on the concept of […]
The Impact of Mental Health when your Business is Failing
Strategies for Coping and Recovery Entrepreneurship is a journey of uncertainty, risks, and rewards. Despite their best efforts, not every business venture succeeds, and experiencing failure can take a toll on an entrepreneur’s mental health. The emotional impact of business failure can be profound, causing stress, anxiety, depression, and a sense of loss. However, it’s […]
Hope Springs Eternal for Debtors Seeking to Protect Assets by Way Of a Binding Financial Agreement
As you probably know, a Binding Financial Agreement (“BFA”) is a legally binding document that sets out the way some or all of the assets of a couple are to be divided in the event the relationship breaks down. Part VIIIA of the Family Law Act 1975 (“the FLA”) makes provision for financial agreements between […]
Pressures Faced By Small Business Owners in Australia
Small business owners play a crucial role in driving economic growth and creating employment opportunities. However, operating a small business in the current market environment presents several challenges and pressures. This article aims to explore the specific pressures faced by small business owners in Australia, focusing on inflation, interest rates, labor shortages, and the Australian […]