Too many tradie businesses leave themselves exposed to legal and financial pain. Helen Kay talks to us about a proactive approach to protecting your business against these 5 mistakes that businesses make, and how to avoid this being YOU!
Here’s the lowdown on this episode and the 5 Mistakes you can avoid:
1. Protect your Intellectual Property with a Trademark – your business name is your reputation, be sure to have this protected from other dodgy people who might want to ride on your coattails
2. Contracts with clients and terms and conditions – gone are the days of ‘handshake agreements’ – people just aren’t as trustworthy, unfortunately. Without a contract with your clients, you are really leaving yourself open to wearing some serious costs!
3. Subcontractor Agreements – there needs to be a way you protect yourself when you work with people contracting to your business. They can do all sorts of dodgy things without this agreement – so get onto it
4. Shareholders Agreements – for all directors of the company – rules of the game are needed in case things go ‘pear shaped’
5. The RIGHT business structure – not just for tax purposes people, but also to protect your assets should anyone decide they want to sue you for something. Protect everything you have with a Pty Ltd structure There were LOADS of gems in this podcast so be sure to take a listen.
Related Tag:- Selling a Business Lawyer Sydney