Would you let an unqualified doctor operate on you? Would you be happy for an unlicensed builder to build your house? Then why would you risk using an unqualified insolvency expert or liquidator? Before you engage an insolvency expert, make sure they are qualified by following these three steps.
When your business runs into financial trouble, it is important to seek insolvency advice and support as soon as possible. There are a number of business insolvency options to consider. It is important to seek insolvency advice from a professional before you make any decisions.
We get asked, “Can I loan money to my business?” Yes, but be careful. Here’s how to loan your business money while reducing the risk to your wealth.
As a business owner, you know when you’re having financial difficulty. You’re falling behind on payments, suppliers are knocking at your door, your stress levels are soaring. However, while you may be aware things need to change, you might not realise just how bad the situation is.
Unsure what a garnishee notice is, or exactly what you need to do if you receive one? To make things easy, we’ve taken it back to basics for you.
To help you understand what a statutory demand is and what the implications of receiving one are, we’ve answered all the questions for you.
Struggling to lodge and pay your tax? The worst thing you can do is stick your head in the sand. By letting the ATO know about your situation, you can avoid worsening debt and potential legal action. You may also be able to apply for a payment plan to spread the cost.
Our recent café client was having a tough time. They’d been trading for five years, propping up cashflow with personal cash and credit cards, and had planned to close. Now, just three months after contacting us, they’ve had their best month of sales ever and we are all wearing big smiles.
Below is an overview of the three options available for directors to prevent business failure. The key to better outcomes is getting in early. Don’t delay implementing improvements or seeking professional help to keep your business afloat.
For a lot of people, debt agreements are a great way to avoid bankruptcy. However, this is not always the case. TV and radio is always pushing debt agreements as the perfect solution to debt problems. But in a lot of cases, a debt agreement won’t provide the financial fix they all promise.