Owning your own business is a dream for many, and that is understandable given that the rewards a successful business can bring are significant. One way to shortcut the process is to buy an existing business, but the process involves many pitfalls, and as some of them are legal, having the advice and support of a commercial lawyer throughout the purchase process is essential.
Not every aspect of buying a business will be a legal one, with matters such as business finances, new branding, media announcements of the change of ownership, and many others, not all necessarily requiring the help of a commercial lawyer. Nevertheless, having a commercial lawyer being given an overview of everything will ensure that nothing happens that may come back to cause you a major legal headache.
Whilst every sale and every purchase of any existing business will have their own peculiarities, at the core of most of them will be four essential legal steps. These four legal steps need to be navigated correctly to ensure that the purchase of your new business can proceed without any major hurdles or more to the point that it does not fall through altogether. We have covered each of them in some detail: Review of the Contract, Amendments, Review of the Commercial Loan Agreement, Exchange and Settlement of the Contracts.
There are many reasons why any dentist, including dentalosogentle.com.au, might wish to retain the services of a lawyer. Some are positive, some negative, and some are run of the mill, but whatever the reasons, ensuring that you choose the correct lawyer to represent you is something which should be done with some thought.
Whilst all lawyers will have gone through the tried and tested route in terms of university and legal exams, not all operate in the same way, nor have the same success rate, and therefore it is not enough to simply assume they are going to provide you with more or less the same type and level of service.
As such it will pay dividends for you to take just a bit of time to think about which lawyer you are choosing as bear in mind this is someone who potentially might be in court someday, defending your business. As we said in the intro, there can be negative reasons for you needing a lawyer, such as being sued by a patient for malpractice, so do not make this decision lightly.
It is important to also remember that although you are the one paying a lawyer for their services, they are not there to simply roll over and agree to everything you ask or tell them to do.
It may not seem like the most serious offence that a lawyer, such as Criminal Lawyers Perth, may have to represent their client for, but trespassing is a crime and one for which conviction and punishment can leave the offender with a criminal record.
For a first offence, you might be given a fine, or maybe even released on the proviso that you pay a bond, especially in cases where the trespass was not deemed especially serious, and no damage or loss occurred.
However, do it again, and you can expect the penalty to be more severe with probation, community service, and ultimately, imprisonment, all possible punishments.
Hopefully, you are a law-abiding citizen, and never likely to face any of those penalties, but given that a surprisingly large amount of confusion exists with regards to trespassing law, we thought we would help you make sure.
Part of the problem is that trespass law comes under both criminal law and tort law. Tort law relates to civil matters, whereby someone could sue for damage caused due to trespass. For this reason, many are under the illusion that trespassing is purely a civil matter, and only find out it is actually a criminal matter too, when they are arrested.
The legal definition of trespass is entering private or specified public places without permission unless it was for a legitimate reason. The sort of public places covered by this include schools and health facilities. Private places include private land, homes, and business premises.
Australian employment contracts tend to provide a lot of protection to employees, but it’s important to realise that employers have rights as well. For example, two of the most important employer rights are workplace surveillance and the right to expect reasonable performance from every employee.
If an employee isn’t meeting the expected performance standards, you might be able to terminate their contract without advance warning. However, there are conditions. And, there are other reasons why you may want to and have the right to terminate a contract.
Below are a few common situations when you have the right to terminate an employees contract:
- With the Provision of Adequate Notice
In the absence of another clause written into an employment contract, an employer must provide a minimum amount of notice when terminating a contract. If a contract specifies a particular notice period, it must be given. If not, you need to give:
- At least one weeks notice for less than a year of employment.
- At least two weeks notice for one to three years employment.
- At least three weeks notice for three to five years employment.
- At least four weeks notice for more than five years employment.
On top of this, employees aged 45 or older who have been employed for a minimum of two years are entitled to an extra week of notice. If you believe you aren’t receiving your proper rights, this is when you should speak to your employment lawyer.
Online marketing is difficult for anyone. Unlike past times where it was as simple as making an ad and waiting for the results, modern online marketing is super competitive, and it has to be done just right if you want to get a decent return on investment. This is especially true for lawyers and legal advice firms, who have to do things just right if they want to get a decent return on their marketing efforts.
Although it is possible to take charge of your online marketing campaigns yourself, most law firms choose to employ marketing experts to do it for them. There are many benefits associated with doing this, including:
- Marketing Experts Are Efficient
Unless you have a lot of marketing experience, you will spend a lot of time trying to get things right if you choose to control your own law firm’s online marketing. However, if you employ a marketing expert, you will be getting someone with experience, who knows exactly what they’re doing, and who will be efficient. This will free you up and will allow you to spend more time on the things that you’re good at.
- They Will Be Able To Identify The Best Marketing Streams
If you choose a marketing consultant or agency with a lot of experience and a good reputation, you can be sure that they know what they’re doing. They will be able to identify the best and most profitable marketing streams for you and your business, and they will be able to implement high quality marketing campaigns to make the most of these streams.
Family law is ever-changing in the modern age we live in. Statistics show us that 60-70% of people will live together before marriage, particularly for the age from of people falling between 30-44 years old. Another striking statistic is that co-habitation is increasingly popular among adults over 75 years old.
According to family law experts Davies & Co Lawyers, co-habitation may be referred to in different ways. You may have heard phrases such as: Committed Intimate Relationships, Non-Married Heterosexual Couples, Non Traditional Cohabitors, or Meretricious Relationships.
It’s important when considering a co-habitation agreement to understand the different types of agreements and that courts generally treat them like contracts. You may also have heard of these agreements under other names, such as: Written Agreements for Support, Written Partnership Agreements, or Non-Marital Agreements. There are generally three types of agreements: Implied, Oral, and Written. Jurisdictions vary on whether they will recognize oral co-habitation agreements, although many do. Some will only recognize agreements entered into in writing. It’s important to understand what the courts in your jurisdiction require. Some jurisdictions will not recognize an implied cohabitation agreement.
Early Valuations can put you in an Empowered Position
Shareholder disputes are more common than we like to think and often prove disruptive to a business; in fact, it would be fair to suggest that a serious dispute can bring a successful business to its knees. Expert commercial lawyers can help perform early valuations and this helps pave the way for quick and efficient resolutions. Independent valuations of your shareholdings can strengthen bargaining power and there is higher likelihood of getting what you deserve. There can be several circumstances that can lead to a shareholders dispute. Differences of opinion may arise between the parties involved and the dispute could involve:
- Shareholders and directors of unlisted companies
- Shareholders and directors of proprietary limited companies
- Partners in a business partnership or trust
- Conflict between controllers of a business entity regarding management, finance, operation or other issues
At the core of any shareholders’ dispute is usually a struggle for control as well as the resultant benefits that can be expected from the control. Shareholder disputes may arise due to relationships gone sour, differences of opinion regarding succession, operation, finance or families could be mired in a dispute for future control of the business. At times, when shareholders fall out, they may complain of unprofessional handling of company affairs or even allege fraud. In such cases, it’s always better to seek efficient legal services in order to explore methodical and systematic solutions to legal problems.
When it comes to setting up a new business, hiring a good accountant can actually be one of the more difficult things to get in order. The tax and bookkeeping requirements differ between industries and according to what sort of business you are setting up, which means that it is easy to make mistakes if you don’t know the tax system well.
If you are starting your first business, and don’t really know what your obligations are, then consider the following:
Speak to an accountant!
If you really don’t know where to start, then it is always a good idea to speak with an accountant or professional bookkeeper. An experienced accountant should know exactly what your requirements are when it comes to setting up a new business. If possible, try and choose someone who has experience in the field that you are starting your business in.
Although you may decide that you don’t need to hire an accountant regularly, an initial consultation can help you get set up. Consulting a knowledgeable tax lawyer may also be prudent depending on how complex your business structure is going to be. Knowing what sort of records you have to keep, what sort of things you have to report, and how you need to report them can help you make sure that you fulfill all of your tax obligations.
The two cornerstones of Australian family law are a marriage and de facto relationship, including same sex relationship. The ultimate significance of a marriage and de facto relationship as the underlying fundamentals of Australia’s family law lies in the fact that these two types of family related states and interactions give birth to a wide array of legal issues that can be resolved only in the framework of family law. Most typical and important legal issues and thus topics of Australia’s family law include divorce, child support, spousal maintenance, property division, household content division, allocation and adjustment, parenting arrangements, adult child maintenance, etc.
Robinson Lawyers advise that the majority of the aforementioned legal issues, with the exception of child support, are regulated by Australia’s Family Law Act. This Act is a piece of federal legislation, which is enforceable in all states and territories of Australia. The Family Court of Australia and the Federal Magistrates Court exercise subject-matter jurisdiction under the Family Law Act. However, it needs to be mentioned that Western Australia has established its own Family Court, irrespective of the fact that the state also applies federal law to regulate the aforementioned legal issues. On the other hand, the issue of child support is regulated through child support schemes.
According to Family Law Assist, divorce is the first and foremost legal issue encountered in the framework of Australia’s family law. It is extremely interesting to note that Australia has enacted a no-fault divorce legal regime. This implies that fault/guilt of either of the spouses is not taken into consideration by the court when deciding a case of divorce. The Family Law Act of Australia makes it crystal clear that the only ground for divorce, also defined as the dissolution of a marriage, can be a situation when the marriage ‘has broken down irretrievably’. The question is how to prove the irretrievably of breaking down of a marriage. The answer is that the irretrievable breaking down of a marriage can be established by virtue of the fact that the parties have separated and lived apart for at least one year. As soon as the aforesaid ground is established, the court will grant divorce. The major legal point in this area is that the court may decide not to grant divorce if it is not satisfied that necessary arrangements have been made by the parents in respect to their children.
Looking for Clarity and Greater Understanding of Shareholder and Partnership Issues? Dedicated Lawyers can you Assert your Rights
Setting up and operating a business can be an exceedingly complicated process. Dedicated commercial lawyers and legal advisors can help you set up partnerships, obtain clarity on shareholder disputes and resolve legal problems related to business agreements. The success of a new venture often depends on greater understanding of the legal ground rules that govern business operations in Australia. In the beginning, most partners (who may also be family members or friends) are excited and enthusiastic about the prospect of getting a successful business off the ground. However, it is crucial to have written contracts drawn up so that partners can explore the future vision of the company within the proper legal framework.
One of the most significant building blocks for a successful venture is a written and well-structured shareholder’s agreement. A well-prepared and comprehensive shareholder’s agreement helps the business run smoothly. The experts at lawandstuff.net has told us, a shareholder agreement is especially useful in the event of a dispute or difference in opinion or even in case of doubt. Although the contents of shareholders’ agreements would vary across businesses, the following list typically describes some important information that is usually included in general:
The overarching purpose of criminal law in Australia is to bring about and enforce criminal sanctions, also known as penalties, such as imprisonment or fines, with regard to individuals whose behaviour is considered not merely unacceptable enough to deserve punishment by the state, but also socially dangerous. The key specificity of Australian criminal law stems from the fact that it originated from both common law (case law) and legal statues enacted by the legislatures, including, for instance, such statutes as the Crimes Act 1900 (NSW). In Australia, criminal law belongs to those domains of law that are largely controlled by the states, rather than by the federal government, notwithstanding the fact that there is a growing number of criminal law provisions enacted by the Commonwealth government as well, such as the Anti-Terrorism Act (No. 2) 2005 (Cth). Here, it is extremely interesting to note that the federal system of Australia has it own criminal law enforcement agency, the Australian Federal Police.
As the foregoing discussion must suggest, most of the criminal statutes in Australia originate from English criminal law, though Queensland originally rested its system on the nineteenth-century Code of India. Criminal statutes not merely define what constitutes a crime and cover the relevant penalties and sentences for diverse criminal offences, but also regulate issues of criminal procedure and evidence. In addition to this, certain specific statutes, such as the Corporations Act 2001, or laws pertaining to transport, roads or environmental protection, tend to prescribe sanctions for specific offences committed in particular areas of social relations.
Digital agencies are becoming more and more common to cater for the needs of a growing internet. Getting your site out there and having your content read is getting harder and harder as the years go by, which means that it is getting more and more beneficial to have an expert coordinate your digital marketing efforts.
It is no longer as simple as running a few internet ads to drive visitors to your website. The types of advertising are endless (think SEM, SMM, PPC, etc…), and each one requires special skills to have full effect. Consider the following benefits that are associated with hiring a professional digital agency to take care of your digital marketing campaigns, and think about whether you need to hire someone.
A professional agency will have skills that you don’t:
Unfortunately, the various types of digital marketing can take years to master. There is absolutely no point wasting your time learning about each one. The chances are that you will never be as good as a professional, and that your website will suffer as a result.
Online and internet based businesses are becoming more and more common in the modern world. The rise of the digital age has opened up countless opportunities for people with an entrepreneurial mind, and they are really only limited by their imaginations.
More people than ever own and run their own websites. Some of these are designed to generate a profit, while others are simply run as a hobby. A high-quality web hosting service is extremely important for maintaining the health of your website, no matter what its purpose is. There are many reasons why you need to use a high-quality hosting provider for your website, including:
Cheap servers may experience a lot of downtime:
If you own a business website or a site that is designed to generate a profit, then you want it to be online for as long as possible. Unfortunately, cheaper web hosting providers often cram way too many sites onto a single server, which often leads to the server crashing. This means that your site won’t be online for long periods at a time, and can negatively impact your traffic numbers in a big way. Higher quality hosting providers will do things properly, which means that your site will nearly always be accessible and that you won’t have trouble with too much downtime.
Everyone should make plans for their family should the unthinkable happen. This is not difficult, especially when you have an estate planning solicitor to guide you. Making a Will is an essential part of it, although there can be much more to it. But for those who own a business it is a little more complicated because they have to decide what they want to happen to the business and those who work in it, then implement steps to ensure it happens.
If the business is a partnership or has several owners, there must be plans to ensure they are taken care of. One way to do this is to draw up a legally binding buy-sell agreement. This will outline what you want to happen if a partner or co-owner dies, decides to leave or is forced to leave for some reason.
In the agreement will be details about
- who can purchase his or her share of the business
- under what circumstances such as retirement, death or disability and
- what price they should pay such as market value, percentage and so on.
You should also discuss it with your lawyer or legal advisor who will be able to advise you what options are available and how to implement them, what to put in your estate plan and what common estate planning mistakes you should avoid. For instance you could sell the business, close it down or hire someone else to run it as you get older and find it more difficult to keep up the pace.
Every business should have a good financial planner on board to guide the owner through the financial maze that is inherent in every business. A financial advisor can work with you right from the start to help create the financial section of your business plan; something that any lender will want to see before they make that important lending decision.
According to well known financial planner Andep, when you have your financial planning sorted out, you can see at a glance whether your business concept is truly viable – and so can the lender. While it might seem obvious to anyone starting up a business that it is essential to be sure before you start that the business is viable, when you are possessed by a cherished dream to have this particular business you can often get carried away and think things will be much better than they end up being.
If you have a small business, litigation lawyers giving legal advice will tell you it is absolutely essential to take out insurance against litigation. You may think that litigation only happens to other people and it is not likely to happen in your business, but this is not so. Accidents can happen to anyone at any time and if someone on your premises or on your payroll is injured or worse, litigation is likely to be the outcome.
In fact, even if you do have enough insurance to cover the costs involved in a litigation suit, there are many other factors involved that money cannot help.
If you are in business, it is imperative to dress the part and make yourself as attractive as possible. Some people choose to do this with Botox treatments, while others pay more attention to their makeup and hairstyle. Certainly, if you have pronounced wrinkles, Botox can help smooth them away and give you a younger look. There are other ways to make the most of yourself and one of these is to ensure your hairstyle really suits the shape of your face.
Making the most of yourself may include using Botox injections to reduce facial wrinkles, but if you keep that tired old hairstyle, you still won’t look your best.
If you have gone through recent divorce, you will need to think about fair and equitable property settlements if you and your ex have any property. Even the family home may need to be sold so that the proceeds can be shared fairly. Divorce lawyers such as Robinson Family Lawyers can give you a lot of advice regarding property settlement after your divorce.
In fact, you don’t have to wait till the divorce is finalised before working out the details of property settlement. That said, often a divorced couple will not be able to agree on what is fair and just, so the court has to decide. It’s a good idea to try Family dispute resolution in order to reach a fair decision as this is much quicker and it costs less.
If it goes to court then the court costs will have to be deducted from the whole before a settlement can be made, so each one will get less. Besides which, the process can drag on for 18 months which most people find extremely stressful, especially with all the other considerations that are going to take at least some money to achieve. There is the cost of moving, accommodation and even food and medical expenses that have to be met. If you don’t have much money this can be very difficult, especially with children to care for.
When it comes to the breakdown of a relationship there must be a fair and equitable division of assets and debts. Legally, this is called a binding financial agreement, though it is often known as a ‘pre-nup’. Family lawyers like Culshaw Miller can help in establishing a pre-nup and in advising about the division of assets if there is none. In some cases this can be done quite easily between two people who separate amicably, but very often it has to be taken to court for a legal decision to be made as the two parties cannot agree on a fair division.
If it can be settled out of court it avoids the cost of court proceedings and just as importantly saves time and stress. Court proceedings are known for their slow movement forward and this can certainly add to the stress of the whole business of divorce. However, the reality is that a divorce is often accompanied by bitter feelings, which get in the way of any decisions that could be considered fair.
If your relationship has been breaking down for some time and you cannot see any way to restore it, you may want to consider starting divorce proceedings. Once you would have had to see a family lawyer like Accelerate Family Law, but these days a divorce can be applied for online. However, you must realise that nothing else except the dissolution of the marriage will be settled. Custody of children and division of assets are another matter entirely.
It is important that the divorce is written well and is thorough because we often get asked “what can I do if my ex-partner refuses to let me see my children?” – so making sure this is covered is of the upmost importance.
You can still consult with a lawyer first if you want to. He or she will be able to explain some of the things that you need to know or are not sure of, especially how the law will apply to your situation. They can even do the application for you. However, many people simply apply for a divorce online. A fee also applies, that must be paid online if this is the route you decide to take. The fee is $865, but you may be eligible for the reduced fee of $290.
In some cases a couple decide to both apply for a divorce online. If this is the case, both are considered to be the applicants, while if only one of you applies, the other one becomes known as the respondent, for legal purposes.
If you have any major assets, then getting estate planning legal advice from a family lawyer like Robertson Hayles should play a major part in your life, especially as you get older. If you die intestate – without a will – your assets will not go to your loved ones in the way you want. In fact, there might be very little left of your estate by the time it is released by the government.
Have your say
There are many reasons why estate planning is important, and why using an estate planning or Perth Wills Lawyer will benefit you and your heirs. No one knows what the future holds for them. We may hope to will live to a ripe old age, but even so, the end will eventually come. And it is increasingly likely that accident or disease will have a hand in an earlier release from this life. While few people like to think about it, wiser ones work to get everything in hand so that their loved ones are less traumatised by their passing and their assets are safely distributed the way they have chosen.
Those who own shares in any proprietary company (which means it has a “Pty Ltd or P/L in the name”), might have right that they are not aware of. This could include the right to access certain information regarding the company. It could also include the right to ask the company to hold a meeting of its members, which would be done under specific conditions.
Any company that does not follow through in providing what shareholders are entitled to, might be subject to dispute between members and the company, including the directors which could require experienced commercial lawyers to sort out. Some of these disputes about rights might include the following:
- Not enough general meetings.
- A company not acting in the best interest of the members.
- Not providing access to the company’s register.
- Legal action being brought against directors by members.
The constitution of a company details what the company has the right to do, and what it is obliged to do, including the rights and obligations of directors, officeholders, and members. In this manner, the constitution works similarly to a contract, but a breach of it is not a criminal offence. Private actions must be taken in order to enforce this contract. Disputes need to be settled by the parties, but the court system can be involved when this fails to happen.
There’s a common thought that business owners have. They think that they can deal with clients on legal issues and still not need a Lawyer; well, the truth is that this false belief can be a bane for them. So let’s talk about how to find Lawyers.
Where to look for a Lawyer?
Yes, this can be an easy method to find a Lawyer. All you have to do is ask your family members or friends. However, you have to be careful here. Your friends and relatives may suggest you an attorney who is not really specialised in these matters. Watch out for that, you don’t need an attorney who doesn’t know the tools of the trade.
Looking Up Online For a Lawyer
Here, if you decide to go on the internet to find a Lawyer, something like Upwork can be of great help. But beware! A fancy profile can be deceiving. Look up for an attorney who is in your state. Go to their LinkedIn profile and read more about them and also find out the reviews on them by other clients. You don’t want all of it to be a disappointment. It’s advisable to schedule a meeting with the chosen candidate before finally selecting them.
Avvo and Lawyers List are great sources to find lawyers too. All you have to do is ask a question here. If a lawyer from your region answers, you can view his or her profile, then you may decide on a meeting and if things go well, you have struck a deal.
Interviewing a Lawyer
Experience: Now experience matters. If your lawyer is little informed about your business, you will just be wasting some precious time. So make sure that you ask your attorney the questions related to your business and expect answers for the same. This will ensure that the person you have chosen knows and understands the work.
Understanding the Goals: This now is an important part. During the meeting, state your goals clearly and ask for the Lawyer’s view on the matter. This will help you to know and understand your Lawyer in a much better way and you can clear a lot of things ahead of time.
With a rapidly growing population of mobile users (3.6 Billion), today; it becomes important for businesses to create robust customer engagement; if they are to stay in the challenging market competition. Subsequently, digital marketing professionals must adapt to the evolving consumer behavior; who now consult their Smartphones and mobile devices before making a purchase.
Google suggests marketers should think about new strategies to connect with consumers through different digital marketing channels to gain quality conversions. For brand managers to meet their customers, mobile marketing plays a vital role. A recent Google Analytics report indicates that smartphones help the users make a decision, 57% users visit a store, 39% users will call a business to inquire and 51% users will make an online purchase.
With such positive figures, marketing professionals can connect with consumers employing these four tactics:
Evaluate Your Brand’s Reach Beyond Mobile Sales
It is important to consider all the available options to advertise and promote your products; when customers are searching for your brand/product reviews, prices and sizes on their smart devices. Google Adwords is the paid advertisement method that can put your digital marketing in full-steam. This tool allows you to determine the platforms that deeply influence your sales; whether it is shopping from the mobile app or from an in-store.
Social media is a term that justifies “change”. A latest facet surfaces every moment challenging the previous one. This keeps all business owners and digital agencies on their toes to look out for the upcoming social media trends. With constant knowledge upgrading there is the evident practice to learn about the new social media changes that would prove beneficial for business.
Listed below are 5 new social media advancement which when implemented can hugely profit businesses in 2016.
- Quicker Response to Customers
The social media development that tops the list is speeding up the response time. People/consumers when they reach out various brands using different social platforms such as twitter, facebook etc., they expect a quicker response. More than 50% expect to be responded within an hour failing which leads to consumer complaints. Complaints, no matter how small, are always a scar for the business reputation. Be alert and respond to consumers faster with the all new and improved social listening and automation tools to beat your competitors. Keep up with the pace of changing social media to maintain and improve your online business presence.
What is an online business?
Online business, commonly referred as e-business, is some sort of activity that happens online i.e. over the internet. Online business is very common these days as the world is evolving technically as well as intellectually. But one needs to follow a few rules and guidelines before starting any work on the internet especially for those who are new to this field. Few tips that are very useful while starting any online business are listed below:
What are the main tips required?
Few most helpful and valuable tips are explained briefly for the people who are going to keep their foot on the online market.
- Constructive cash flow:
People who own online sites or are owners of any e-commerce business should make sure that they are able to fetch cash as soon as possible. This can be easily possible by hiking the profit margins and reducing the disbursements.
- Propose what people desire:
One of the basic and profitable rules of any business is to offer people what they want. For this, the owner of the site or the business should conduct the market survey in order to know regarding the needs and desires of the people.
Small businesses pay a lot of attention to their SEO marketing efforts, revenue generation and customers since they are usually serving niches and tend to focus on their core competencies a lot. Competing with giant organizations cost a lot to the small firms and they are prone to mistakes which the customers or potential customers may catch easily in whatever domain. Website design is one of the areas where the small businesses seem to be ignorant some of the time about certain aspects. Often lack of hefty initial capital leads to development of the business website by the organization’s own staff which might not be a professional team in this regard. Turns out, a website with a lot of design mistakes that could turn off the traffic. And since a small business needs a great deal of viewership at its site since that could be the only medium of communication before launching some campaigns, it hinders the growth of clientele.
Mistake # 1: Poor Choice of Colours
Colours and contrasts are not thought to be as a priority when listing common mistakes made by small businesses in web design, but it is one of the fundamental ones. Since visual appeal plays great role in attracting customers and viewers on the web, poor choice of colours or contrasts that speak otherwise of your vision and business philosophy might be the factor throwing off potential customers to competitors’ site. Fonts and graphic content also falls under this category.
It is a sad fact that many new businesses go to the wall within a few years of starting up. Sometimes it is because of burnout; the owners simply didn’t realise how much time and effort it would take. Other times it is because they were not properly prepared to run a business. Here are 10 tips to make sure that you get a strong start to your new business so that the momentum will carry you through. Following these tips will help your business to succeed.
- Make sure your business offers what people want. You may be vitally interested in decorated horse shoes, but are horse-owners? It would be far better to offer a basic horse shoe, then offer decorative ones as a side. At least you could be sure of selling the basic ones, since all horses that are ridden should be properly shod to protect their feet. By ensuring your stock is popular you can almost guarantee sales.
- Make sure your cash flow Amazingly, many people who start out in business accept that debt is normal. Of course you will have to pay quite a bit to start a business, but you also need to have cash coming in as soon as possible. It is essential to keep the cash flow positive; don’t spend more than you make over a year. You may have to ask for a deposit up front for services, but at least you will have enough to pay your bills.
Many people decide to start a business simply because they don’t like working in a 9-5 job. They think with their own business they can choose hours that suit them or take time off whenever they like. This could not be further than the truth. Starting your own business is time-consuming and the buck stops with you.
If you are not there to see that everything is done on time or properly, your business will head very quickly to failure. That said, there is something about running a business that gets into the blood. The challenges and the frustrations are all part of the fun. Here is a checklist for starting up a business that can help smooth the way.
- Make sure you have a great idea that you are passionate about. If you don’t care greatly for your business idea you are likely to abandon it more easily when the going gets tough. And you won’t give it your all in a way that makes success surer.
- Analyse the sector your business idea is in to see if it is in a growth period or stagnant.
- Assess likely risks and work out a plan for minimising them.
The year 2016 brings forth a fresh set of commandments for small businesses. It is essential to look out for these new changes, which when not implemented can prove to go against the business.
A run down on the 2016 issues that need to be handled without delay which when done can result in huge turn-over for small businesses-
- Extra working hour rules: An increase in the overtime pay is the highlight this year. As soon as the details are out an urgent action is expected from the employers.
- Staff Salary: Around the globe, new laws are being formulated for a raise in the minimum salary of employees, stressing on equal wages and paid sick leaves. These laws have already taken an effect since the 1st of January 2016 in New York City based fast food employees. Equal pay for men and women is being implemented and 5 paid sick leaves are to be allotted by owners having a minimum of 10 staff members.
- Confidentiality Issues: Laws of Security and Privacy has gone up a notch this year. The data-security measures that have been functioning in various businesses up till now will require a boost.
When you are in business the whole idea is to make a profit. However, with the necessity of suppliers, infrastructure, payroll and even tax, there always seems to be a payment that needs to be made, thus reducing your profit levels. Rather than watch your business sink into the red, you can find ways to increase your profits and ensure your bottom line is healthy.
There is more to increasing profits in a business than just cutting costs. Some costs cannot be cut, but that doesn’t mean you should not keep a tight rein on spending. Unnecessary expense is a waste, but essential spending can cut down on time and increase your profits. For instance, purchasing the right software to do the accounting can certainly benefit your business; buying the latest and most expensive office furniture will not.
Five simple keys to increasing profits in your business are:
- Leads – these are your customers or potential customers, people who have contacted your business or who have been contacted by your business. There are two ways to increase profits with leads and that is to get more of them and to increase the spend of each one. It is imperative to give people who come to your store a great experience without being pushy.
What Is Online Business?
An online business, which is also referred to as e-business is the hue of business bustle that takes place over the Internet. There are a lot of things that are to be considered while starting some business online and especially if you are not some computer expert or haven’t started a business before.
You will start to hear terms such as SEO, eCommerce, responsive web design and many others that may confuse you at first, but here are some tips, which can prove a helpful starting point when starting an online business:
What Are The Main Tips Required?
Some of the beneficial tips for the business owners that are planning to start an online business are as follows:
Offer what people want: The owners should make sure that their business renders the customers what they want, and this can be started well if the owners make sure enough of selling the basic ones.
Positive cash flow: The owners should make sure that they run their business in such a way that it renders those cash as soon as possible. The owners can simply achieve this by increasing their profit rates while decreasing their disbursements. Lastly, they should keep in mind that all discount offers are not beneficial to their sales as some of them may even decrease their profit.
Every business organisation needs to have good governance in place, but what exactly does it mean? Corporate governance is the system of rules, processes and policies put into place in order to monitor and control an organisation. Just like a good family has certain rules to establish responsibility, leadership and who does what, so a business has to have the same kind of thing. Only because a business has so many parts to it, the governance is rather more comprehensive than a family would need.
Even small businesses have to have some kind of governance in order to progress smoothly. People within the company from the janitor to the CEO have to know who is responsible for what and who is to make what decisions. It also encompasses certain rules and regulations set out by the government that businesses must adhere to, to be legal.
Input for a governance framework can come from an individual director, company counsel, outside commercial lawyers, a board of directors and officers in the company. It takes into account the kind of business it is and whether there are stakeholders or other shareholders who must be considered. It delineates duties and responsibilities appropriately and where delegation of duties is carried out ensures there is clear and proper understanding of what is to be done and by whom. Effective governance will ensure that the business runs smoothly and safely right from the start, as each person’s skill set will be used to carry out the work they are best suited for.
We often hear people complaining about the cost of insurance, but when it comes to your business, the cost of not having it can be devastating. Just imagine what would happen to all your work and dreams if your business was suddenly wiped out by flood or fire, or some other act of nature. What about if an employee was injured or worse while at work? Or what if your revenue suddenly dropped due to road or street repairs in front of your business that prevented your customers from coming in? Perhaps vandals threw rocks at your shop front and smashed it or stole your goods.
The loss that you would suffer from with all these and many other risks would be so high that your business may never be able to recover. When compared with the cost of insurance premiums it is easy to see which is best. Another problem that often occurs is businesses trying to keep down their insurance costs by insuring for much less than they need. Then when they finally get their payout, it is not enough to repair and start up their business again. Insurance is not the place to try and save on costs.
Every second person wishes to become a business tycoon and has a luxurious life. But is becoming a successful businessman easy? Just having a fund is not enough. Proper planning and execution of plans play a vital role in running a business. With high rates of inflation and deflation affecting the economies of the world no business whether small scale and large scale can remain unaffected by it and run business in adverse conditions is also a challenge.
Numerous factors which play a crucial role in the long life of business but at the time of commencement of an undertaking few elements too should be emphasized. Following are some of the factors to be analyzed and surveyed before putting the business plan on the floor.
- It is advisable that you breathe and live for the proposal you are thinking of. You cannot give a thorough devotion without putting all your funds and assets at stake for the venture. It is not only perilous but also like burning your hands intentionally.
- It is wise to invest before your money to understand the trait of the business and scope of growth so as to relinquish the business plan if the market prospect is not conducive for business.
An individual can think for business for many reasons. Before starting any business, it is wise to understand its pros and cons, whatever the size of an individual’s business is whether it is small or big, virtual or live, it should be secured one. There can be various ways to secure any business. These are almost same for every business without considering its type.
For Firm and Established Business
There are certain ways to secure one’s business. Insuring business is one of them. It is a mandatory and a secured way. Insurance is a need as well as it is beneficial for business authorities. Insurance is a need because it covers a business and in the case of ups and downs it proves to be quite favorable as well.
How to Select Insurance Plan for Your Online Business?
It is mandatory to select an insurance company with a reputation in the market and after going through rule and regulation legitimately. While doing any insurance, an individual needs to understand the reason behind it. If he goes for insurance just because it is necessary, then it can be problematic later on. Before selecting any insurance, an individual must assure about assets it covers. Since in the case of loss, he will be able to get an amount from insurance company according to that only.
In business terms, taking your business around the globe is something that is targeted by every business person. There are many advantages associated with taking your business overseas. In order to stay in competition and to avoid the costs of import and export, the best solution is to globalize your business and make your base in other countries. It benefits all the associated countries and the business owner himself. There are a number of factors that can be considered as the reason for moving your business overseas; most important of them are discussed here. Globalization of business reduces trade barriers; it is quite obvious that the purpose of business is to earn profit. Reducing the trade barriers reduces the cost and in turn increases the profit to a nice extent.
Reducing trade barriers:
Reduction in trade barriers means stopping the export of goods and manufacturing the goods in that other country. There are huge custom duties which a trader has to bear if he wishes to target a market outside the boundaries of his country. If you want to target the market without the hassle of import and export, you can globalize your business; this will benefit your business, your country and the other country as well.
Letting a business grow enormously:
Competition is ever growing and we have to cope with it if we want to keep ourselves in the market. If your own country’s market is saturated and your business is giving you less profit, you can target a market overseas where competition is low or even zero. This is how signature brands come into existence.
Running a business is thought to be an easy task in comparison to other ways of earning money. It is not as easy as it is thought to be and have various difficulties. One of the utmost troubles is winning customers trust while running any kind of business. There are many others troubles as well.
Need of Customer’s Trust
It is a big question for business owners that what is need of gaining customer’s trust. If an individual is the one who thinks like that, then he needs to brush up his business knowledge. Maybe a business owner thinks like when I am giving perfect product or service with on time delivery etc. then what is the need of building faith as well. It is required because there is a need for making a frequent customer buyer.
Need of Frequency
Next question that arises is why is there a need of a one-time customer to be a frequent buyer? For any kind of business whether it is related with product or else service, it is beneficial that a customer should keep on purchasing and giving regular business. It is possible only after flawless satisfaction of a customer and faith in business is one of them.
What is an online business?
Defining online business in the most simplistic manner is the e-business which is referred as the hue of business bustle that takes place over the Internet. There are various numbers of things that have to be considered while starting any sort of online business and especially if you are not some computer expert or haven’t started a business before. Some of the tips which prove to be beneficial while starting an online business are listed below:
What are the main tips required?
Some of the most advantageous tips for the business owners who are planning to start an online business are as listed below:
- Keeping the cash flow positive:
The owners of the e-commerce sites or any sort of online site should make sure that they run their business in a way that it starts rendering the cash as soon as possible. The owners can simply achieve the positive cash flow by increasing their profit rates and decreasing their disbursements.
- Testing and tracking everything:
The owners of the online business should keep a note of everything. When the owners start a new online business, they should especially track and test the advertisers, mainly. If the owners don’t keep a track of everything, there are chances that they might incur losses.
Getting onto the digital media just because everyone is on it doesn’t guarantee success for your business. You need to work on different strategies and keep in mind certain factors to be successful. One such factor that holds the key to success of businesses on the internet is ranking. Your website’s search engine ranking is what defines its success. If you want to get found by your customers, you need to focus on your Google ranking.
Let’s find out how Google ranking can change the fate of your business online.
Before we head into more details, you should understand how Google works and why your page rank matters. Google has a way of deciding ranking for different pages. It works on an algorithm to rank pages based on organic results. If a company wants to get a good Google rank, then it needs to follow its algorithm which has certain rules that are described briefly below:
- Relevance – A website or webpage that is relevant to the search term used.
- Inbound Links – Google rewards those websites that have several links to other source pages.
- Content – The content needs to be valuable for the users.
- User Experience – The web page should provide a good user experience.
- Mobile-Friendly – The website should be responsive to make it compatible with different mobile devices.
By following Google’s algorithm, any business can be rewarded with a good rank.
Most states and territories have “declared war” on drug driving in the last couple of years. New South Wales is presently leading the charge by announcing that by 2017 they will increase the number of roadside tests to 200,000.
Our alcohol driving laws have been around for many years and there are now enormous amounts of data regarding its effect on driving, blood concentration levels that give rise to impairment and the likelihood of being involved in an accident.
This pervasive concept inherently coaxes us to evaluate the drug driving laws by similar standards. Unfortunately, the policy behind these laws and the manner in which they are being enforced is not at all like alcohol driving laws and consequently we must assess them from other perspectives or consult experienced criminal lawyers for legal advice.
Each state and territory has now enacted some form of roadside drug testing legislation. However, the incidence of that legislation and the now increased focus on enforcing it has not been complimented with any educational material or even a consistent approach. Some commentators say the reason for this is that it’s merely a campaign against drugs cloaked as a road safety campaign.
That is an interesting conundrum because users who are prosecuted for drug driving do not ordinarily face criminal charges for possession or use of illegal drugs; and yet the possession and use of the drugs that are tested for is itself a crime.