Three factor budget - man sitting with papers flying around

Why a financially troubled business should create a three factor budget

Estimated reading time: 6 minutes

A major contributor to financial distress for small to medium-sized enterprises (SMEs) in Australia is poor budgeting. Here we look at a useful budgeting technique — the ‘three factor’ budget/forecast, and how this can be used by distressed businesses to turn things around and avoid insolvency.

Oppressed shareholder golden chains

Are you an oppressed shareholder? What the law can do to protect you

Estimated reading time: 6 minutes

Minority shareholders in Australia are generally beholden to the majority shareholders. However, in some cases, minority shareholders of private companies do have recourse available to them. In this blog article, we look at the ‘minority shareholder oppression remedy’ available in section 232 of the Corporations Act 2001 (Cth), and the orders available to the Court in enforcing that remedy.

Regular cashflow projections are important for business.

Regular cash flow projections and comparison to actuals

Estimated reading time: 7 minutes

Cashflow refers to the movement of money into and out of business, and it is one of the essential financial indicators for the business. This is why a proper financial record keeping is so important.

Inside problem or an outside problem

Business Survival Series: Is the problem an inside problem or an outside problem?

Estimated reading time: 5 minutes

Running a business can be tough and no matter how prepared you are, there will always be hurdles along the path. As such, recognising the type of problem that you’re dealing with is vital in determining what strategy should be implemented to respond to a financial crisis. A helpful starting point is to consider whether the problem is an inside problem or an outside problem.

Ilustration to the article "What is Wage Theft?"

What is Wage Theft?

Estimated reading time: 5 minutes

Wage theft is the underpayment of employees. Wage theft can occur in a number of ways, for example underpaying wages, not granting entitlements or refusing to pay penalty rates, superannuation, overtime or commissions.

Image for the article: "Business Survival Series: Respect Your Creditors "

Business Survival Series: Respect Your Creditors

Estimated reading time: 5 minutes

Having creditors is a necessary element of business. But those lines of credit extended to your business do not come without some reciprocal obligations. Respecting your creditors should always be a priority. It is vital that you maintain a strong creditor-debtor relationship, even as situations change and become more difficult.