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It seems no business is immune to the devastating impacts of COVID-19, that is of course with the exception of toilet paper production companies… For many the thought of surviving during, and thriving after a recession can seem like nothing more than an optimistic and unattainable idea. It can be immensely helpful and motivating to […]

Preparation is often the key to success. Businesses who do not prepare for a crisis often find themselves in survival mode: cutting costs, tightening profit margins and laying off employees. While this may be the only way for some businesses to survive, it often leads to even harder times when the recession eventally subsides. Ensuring […]

2020 has seen Australia suffer under the weight of devastating bushfires, disastrous floods and the social and economic collapse caused by the Coronavirus. With the economic climate looking bleak for the foreseeable future, businesses are struggling to keep afloat. In an attempt to provide relief, the Australian Government offered a series of administrative measures to […]

Just a few days after the Australian Government announced its first stimulus package to help small businesses stay afloat and keep people employed, a second stimulus package has been announced. This $66.1 billion stimulus package sees the addition of new measures designed to help Australians cope with the devastating economic impacts of the Coronavirus. Keep […]

What Government Assistance Is Available Claiming more than just lives, COVID-19 has seen the collapse of thousands of businesses and has left countless individuals out of work and without reliable income. With no end in sight to the crippling economic crisis the Coronavirus has created, business owners are left wondering what they can do to […]

Liquidation is the process of winding up a company and finalising its affairs. When a company is facing extreme financial difficulty, it may enter into liquidation to close the business down, sell any assets and pay off as much creditor debt as possible. There are 2 types of liquidation available for an insolvent company: court […]

The short answer: No! And even if you resigned in the period leading up to the liquidation, you will still be held responsible for your conduct whilst you were the director. Who Is A Director? While this may seem like a simple question, the answer may surprise you. A director is not just a person […]

Being the director of a company experiencing financial difficulties can be scary and unknown. All too often, company directors continue to amass company debt as they view entering liquidation as a personal failure and are terrified of being personally liable for any debts incurred by the company. While in most cases the director is not […]

Are your business troubles keeping you up at night? For many, deciding what to do with their failing business is one of the biggest decisions they will ever have to make. Is there a way to improve sales? Can you cut costs further? Should you sell your house and invest more into your business? Battling […]