Legal

Have you completed your proper due diligence on your business contracts? It’s crucial to plug the holes in your business contracts before you find yourself sinking.

Buying business insurance through a qualified adviser, rather than organising it yourself directly through the insurer, could be the difference between survival or closure in the face of a disaster. Here’s why.

For the most part, businesses run well, employees love their job, and employers are good people. But when it goes wrong, it can go badly wrong for both. The threat of legal action has greater consequences than you think – let’s put it in perspective.

The role of an SMB owner is wide-ranging and understated: CEO, general manager, accountant, HR manager, and marketer. Without the luxuries afforded to a larger organisation – such as having a risk management team – small business owners need to self-manage all risk scenarios and shortcomings in-house.

Genesis Fitness Club (GFC) has been penalised by the consumer watchdog for using the carbon tax as an excuse to increase membership fees, making it the first business in the country to be fined after the ACCC was given extra funds by the Government to crack down on false carbon claims.

With the ever increasing fast pace of society, a successful business, particularly an entrepreneurial one, often needs to take business risks to stand out. However, risks often bring with them the potential for liability.

Nobody wants to think about it when times are good, but the break-up of a marriage can have huge consequences for business owners. While you may not want to go as far as a pre-nup, you can follow some smart advice.

Remember the changes announced in the Federal Budget in May? No? Well the beginning of the new financial year means that many of these measures have now commenced. Use this list of changes to ensure you’re compliant.

All SMBs should integrate workplace safety into business management systems, practice prevention rather than reaction and show commitment from owners to the process. Use the seven pillars of safety as a guideline to making this happen in your business.

When the time has come to sell your business, many factors need to be considered and acted upon before you’re free from any further obligations. This is what should be on your to-do list.

If you’re going to expand your business and become an exporter, you’d better learn to manage bribery and corruption risk in foreign markets. This expert advice will help you protect your business if the regulator comes knocking.

Relationships end and friendships fail, it’s a sad fact of life. But what options are there when a relationship between business shareholders is irreconcilably damaged?

Important new Workplace Health and Safety Laws commenced around Australia on 1 January 2012, and now almost six months on, businesses should take another look at the legislation and ensure they’re complying or risk fines of up to $3 million.

With over 70 percent of all Aussie businesses owned and run by families, it’s vital policies and systems are put into place so a feud between family members doesn’t have the power to bring the business down.

Even profitable businesses go bust as a result of cashflow issues, tax debts or other unexpected circumstances – making it vital business owners know the basics of corporate insolvency, so they can protect themselves should anything go wrong.

How often do friends or colleagues go into business together, never stopping to think about a legally binding shareholder agreement until something changes and things get nasty?

Australia is one of the most underinsured nations in the developed world in terms of Personal Insurance, and sadly, many small business owners are not much better when it comes to insuring themselves and their businesses.

The Federal Court has upheld the Australian Competition and Consumer Commission’s (ACCC) appeal against Google for publishing advertising material designed to mislead or deceive, and legal experts are urging SMBs to recognise how the case provides clear evidence of their online obligations.

Businesses are becoming complacent when it comes to their duty of care towards employees required to travel for work, a new study has found.

Consumer Affairs Victoria has officially launched its ‘Stevie’s Scam School’ program, designed to educate small businesses about the most common scams they should remain vigilant against.