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What Insolvency Means in Business and How It Can Affect You

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In the current economic situation, it’s not unusual for businesses to experience financial uncertainty. But what if it reaches a point where the liabilities outweigh the assets? Is ‘closing’ the business the only way forward? What is Insolvency? Under the Corporations Act 2001 (the Act), a person or company is considered insolvent if they are
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What a Binding Financial Agreement Is and How it Works

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Thinking about getting married or entering into a de facto relationship? You might want to look at how you can protect your assets in the event that, for whatever reason, the sweet relationship turns sour. Read on to learn more about what binding financial agreements are and how they can provide you with certainty and
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What to Know When Buying a Business in Australia

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Setting up your own business from scratch is tough work. That is why, sometimes, it is preferable to purchase an existing business. But don’t dive headfirst into the first offer or prospect that comes your way! It’s important that you do your research before making any decision. Financing Options When Buying a Business There are
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How to Recover Debts Using A Statutory Demand

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So, you are owed money and not sure how to go about recovering it. The first and most effective way to effect debt recovery is to maintain a strong relationship with your customers and debtors. A strong and respectful relationship enables either party to feel more comfortable picking up the telephone and speaking to the
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Employment Contracts and Why They Are Necessary

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Writing down the specifics of an employment arrangement is not just a legal recommendation. It also helps in protecting the most important asset of a business: its people. In this article, we define employment contracts and discuss why they are necessary for managing professional relationships. What is a contract of employment? An employment contract is
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