How to recharge your cash (and energy) levels
As a small business owner, what should you do when your cash — as well as your own energy — is starting to run out? Here we offer some practical suggestions.
How to thrive in a tough industry
Some businesses in Australia are more likely to struggle than others, not because of how they are run, but due to their industry. Here we offer some practical tips on how to nevertheless thrive in these sectors.
Client Journey: Business growing pains and how to get through them
Most growing business will run into some challenges relating the growth. Here we take a deep dive into these business ‘growing pains’ and look at what small business owners can do to get through them. In article: The challenge of…
Client Journey — How to get your accounting processes back on track
Sound bookkeeping and accounting practices are crucial to the success of a business, but too often are neglected by small business owners. The company’s financial records are the ultimate scorecard for any business. Why is accurate financial information so important?…
Breach of Trust: Definition and Recent Case Law
In a trust, a trustee has strict obligations to beneficiaries. These are either set out in the trust deed, or apply via operation of law. Where a trustee does not act in accordance with those obligations there is a ‘breach of trust’. Here we take a deep dive into the concept of a breach of trust, and examine some recent case law.
What are the benefits of the Small Business Restructuring Process compared to Voluntary Administration?
Corporate insolvency in Australia underwent a seismic shift in 2021 with the introduction of the Small Business Restructuring Process (SBRP) under Part 5.3B of the Corporations Act. This new process aimed to provide a more cost-effective and simplified debt restructuring…
Does your insolvent business qualify for the Small Business Restructuring Process?
2021 introduced sweeping changes to Australia’s corporate insolvency laws with the introduction of the Small Business Restructuring Process (SBRP) under Part 5.3B of the Corporations Act. This innovative restructuring process aims to give struggling small businesses a lifeline by enabling them to restructure their debts and bounce back more resiliently whilst leaving directors in control of their own business. This blog post explores the key hurdles to qualification for restructuring under the SBRP.
Why is the Small Business Restructuring Process a debtor-in-possession model, and why does this matter?
The introduction of the Small Business Restructuring Process in the Corporations Act has marked a significant shift in Australia’s approach towards company restructuring. Essentially, it moves towards a debtor-in-possession model, a concept that might appear foreign within the traditional creditor-in-possession system of Australia. Understanding why this change has occurred and its implications is critical for businesses navigating restructuring scenarios.
Understanding the Cost of the Small Business Restructuring Process: Professional Fees
Small business restructuring is a complex process that entails two levels of professional fees. However, compared to other forms of external administration, the pricing for restructuring is more straightforward and generally lower. In this blog post, we will explore the different types of fees involved in the Small Business Restructuring Process (SBRP) and shed light on the factors that determine their amounts. Additionally, we will discuss the role of third-party professionals and the potential need for their services to support the small business restructuring process.
Sewell & Kettle Announces Sponsorship of the Association for Business Restructuring and Turnaround
Official Launch Night – Sydney NSW. 5 Star Exclusive Event. Future of Sustainability for SME’s. 14 September at Fullarton Hotel Sydney
Essential checklist for accounting records before undertaking a Small Business Restructuring
Accounting records play a vital role in any business, serving as the foundation for financial reporting, decision-making, and compliance. As a business prepares for a Small Business Restructuring Plan (SBRP), it is crucial to ensure that its accounting records are accurate, complete, and well-organized. In this blog post, we provide a comprehensive checklist to help an insolvent company to review and assess its accounting records before initiating an SBRP.
Client journey 4 – Rebalancing the odds — How sub-contractors can get ahead and thrive
Sub-contracting is an essential component of the Australian economy. Here we suggest some ways for sub-contractors to overcome the challenges of their field and avoid financial Zombification