Experts
CREDITORWATCH | 12 MIN READ Notifiable Data Breaches (“NDB”) With the commencement of the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) (“Privacy Act”) on 22 February 2018, not only is there an obligation on businesses to notify the regulator (the OAIC) about a “serious data breach” but also a requirement to have a Data […]
Here we are in early 2018, a time where all those earnest NYE resolutions and commitments (lose weight, get fit, eat healthy, find true love, have more dynamic relationships etc. etc. etc.) all lie behind us, busted and broken. 7% of the year has now been spent on sun, sport and sausages and now the […]
It’s usually at this time of the year when we collectively sigh and ask “Where did that year go?” If life is what happens when you are busy making other plans, then you may have missed some critical happenings in 5 areas that could impact you in 2018. Let’s have a landscape big picture view […]
Kmart, Deloitte, Yahoo, Virgin America and the C.I.A. – no doubt these names are familiar to you, but did you also know that these organisations (and others) were all involved in some of the biggest data breaches of 2017? Your digital footprint and your data is everywhere, you hand it over unwittingly every day of […]
SMEs are vulnerable to late payers in Australia, with Small Business Ombudsman Kate Carnell stating, in April, that larger organisations are using them as a “cheap form of finance”, restricting their growth and causing solvency issues. From calls for legislation to the introduction of a voluntary code to deter late payments, late payments have never been a hotter topic, and […]
All businesses, even great ones, face challenges. Despite your best efforts as a director to maintain your company’s prosperity, some challenges can be too much to overcome on your own. In Australia, 7,464 companies entered liquidation or administration in the 2016/2017 financial year, according to the Australian Securities and Investments Commission (ASIC). Financial difficulties are […]
It’s that time of year (again) when you have to decide whether you should “take the hit” and write-off that bad debt and (subject to complying with ATO requirements) claim a deduction OR keep chasing the debtor. You can do both of course, but often once the debt is off the books and not front […]
No business operates in complete isolation. Agreements must be made between your business and its customers, as well as with other businesses such as suppliers and distributors. So how do businesses enforce their agreements? The answer is through the formation of legally binding contracts. Unfortunately, many businesses get caught out with unenforceable contracts and, in turn, […]
You’ve done the work, you’ve invoiced. Now you wait. Every business owner knows the challenge of getting debtors to pay on time. But is there more you can do to keep the collections train moving forward when other businesses stall? Put simply, yes. Businesses that are effective in making collections have aligned their credit control […]
It is very common these days to see Companies using trading Trusts as a vehicle to run their business. So how should you open an Account for your Customer if the Credit Application has been filled out in the name of a Trust? A couple of points should be made at the outset: – A Trust […]