To foster growth with minimal disruption, every business needs to have a few key things in place.
This is the set up of the business and everything that is required for the business to operate.
- A trading vehicle which is suitable from personal and familial perspectives;
- An investment holding structure which is flexible enough for future growth and additional funding if required;
- Mechanisms which minimise internal conflicts between the directors and shareholders/unitholders;
- A fair exit mechanism which allows business partners to “cash in” their investment with as little disruption to the business as possible;
- Clear rules for participants to ensure that good faith is observed to prevent future disuptes;
- Risk management strategies to deal with financiers, landlords and other suppliers of IT requirements of the business (webdesigners, the franchisor (if it is a franchised business), the licensors (of technical knowhow, branding or other intellectual property rights);
- Necessary permits and licences to carry on the business;
- Insurances both mandatory and voluntary.
This is to establish a foothold in the market.
- A distinctive brand which is protected under Intellectual Property laws;
- A network of distributors/agents/franchising stores;
- Alliance with related industry partners.
- Employment contracts/Contracts for Services that are compliant with the Fair Work Act 2009;
- Policies to deal with employee issues;
- Supplier Agreements;
- Hire Purchase or Equipment Finance Agreements.
- Contracts with customers (wholesale or retail);
- Debt recovery.
Leave the above to us and business owners are free to concentrate on what matters most—driving business, creating a harmonious workplace environment and providing the best they can offer to their customers.