"BiziNet Magazine #98 - Sep/Oct 2019" BiziNet™ Articles

Over the twenty-five (25) years that I have been advising individuals who have been in some form of financial difficulty, I believe between 15-20% of those bankruptcies to which I have been appointed could have been avoided if the individual had talked about their money problems early on with a qualified professional and put in place the right strategy to deal with their debts. So what should you do if you have money problems?

Most business people start out thinking that in business, they have the freedom to contract. They have the view as stated by Sir George Jessel MR in Printing and Numerical Registering Company v Sampson (1875) LR 19 Eq 462 at 465, over 140 years ago:

[I]f there is one thing more than another public policy requires it is that men of full age and competent understanding shall have the utmost liberty of contracting, and that their contracts when entered into freely and voluntarily shall be held sacred and shall be enforced by Courts of justice.

Every business owner wants to grow a profitable business that continues to grow and remain profitable in the long term. Rapid growth in both revenue and profits are seen by many to be the keys to achieving this.

A report came out in December 2018 commissioned by Safe Work Australia. If the recommendations are implemented, then every workplace in Australia will be less safe.

As a small business owner, you're likely to be wearing many different hats and constantly trying to find ways to do things smarter and more efficiently. You need solutions that are convenient, simple to understand and enforce. So how do you keep across the day-to-day running of the business, and at the same time find ways to grow your business?