This time of year, hopefully before you are back in the full swing of things, is an ideal time to take a step back and look at your business. You should ask yourself a few vital questions about matters that if in force, may make life easier for you this year when the business gears up and is busy again.
Consideration can be given to things like:
- Is there a shareholders agreement in force in the business? This is still relevant (maybe more relevant) for family and husband/wife businesses as it is for non-related business owners.
- Does the business have valid terms of trade that it can issue to customers? Have these terms been reviewed in light of the Personal Property Securities Act (PPSA) scheme which commenced earlier last year?
- Are you tendering for big jobs this year? Do you understand the terms of the engagement, your potential risks and liability? Do you need a review of a contract?
- Are your employees being paid correctly? Do you know which Awards apply to the workforce? Do all employees have current employment contracts? Here is a link to our Workplace Checklist which will assist you.
- Do you have debtors that require legal letters of demand? A reminder that we will issue basic letters of demand for our existing commercial clients at no charge.
- Do you have current and up to date wills, powers of attorney and enduring guardianship documents in place?
Don’t hesitate to get in touch with us on 4925 2077 if you have any questions or concerns about any of the above.