Accounting
Accounting
Too many company directors? Sometimes trust isn't enough to keep a busin...
Tuesday, March 15, 2016Doug Constable: Companies and partnerships sometimes get into trouble because one party may not be legally responsible for any debts that the company has incurred. Even though both directors were responsible for the day-to-day business of the company. Understand what you're getting into, before you do. If it's your company, think twice about who you let run your business!
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Doug Constable: In this episode of Doug on Debt: we talk about what happens when you borrow money to pay debts. Alot of people in Australia buy their dream home not ever thinking about what would happen if they couldn't pay their mortgage. But rather than offer you hardship facilities, some banks actually offer you more debt! This is on top of already rising late fee's and later, legal fee's if the repayments fall behind even more. Before you fall into the trap of paying debt with debt (or credit); maybe seek other alternatives to get back on top.
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Accounting
The most common reason business fails isn't always cashflow, profit or d...
Tuesday, March 15, 2016Doug Constable: In this episode of Doug on Debt: we talk about how book keeping may be better done through an external provider, rather than a family member. Often, business's get into trouble because an unpaid family member is used to do the books save money, only to prioritise family matters over the running of the business. By using an external book-keeper, you'll take out all of the emotions from money-management and concentrate on proving the product or service that your business is all about.
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Accounting
Do you need to be a Director, to invest into a family business in Australia?
Wednesday, March 04, 2015
Doug Constable: In this episode of Doug on Debt: Do you want to help a family member start their business – by investing some money as startup capital? Think twice before deciding to become a director aswell. Savvy investors know that when they put cash on the line (either through shares or venture capital), they have a great chance of never seeing that money again. But since they aren't usually directors, they don't share the liabilities if any debts are incurred. Do your research and invest wisely. If you don't think that the person you're investing in can actually run the business, think again before putting up the capital!
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