ASSET PROTECTION FOR SMALL BUSINESS OWNERS
As part of our commitment to providing a value-added service to Australian small businesses, Australianbiz now provides bi-monthly articles on the very latest asset protection strategies and issues relating to structuring of business and personal assets.
The problem faced by many small business owners is that they are often consumed in the day-to-day duties of managing the office, employees, debt collection and BAS lodgement obligations, that they fail to consider the important issue of asset protection thereby leaving them exposed to risks that may be completely out of their control.
Chartered Accountant, Joe Kaleb, of www.australianbiz.com.au, suggests that business owners implement a set of strategies well in advance of any likely future exposure to have a better chance of protecting their business and personal assets and thus a lesser chance of financial ruin. Primarily these strategies require business owners to avoid leaving vulnerable, unprotected assets within the business entity that could later be seized by creditors and third parties, and ensuring that employees cannot walk away with inventions, staff and the customer list.
If the business is already established, then there is nothing that prevents the owner from going back and applying these strategies going forward.
Asset protection & structuring of business and personal assets is an important strategy that small business owners should consider on an on-going basis.
About Australianbiz
Australianbiz is a website devoted exclusively to small and micro businesses and functions as a tool to assist business owners to better manage their business and income tax obligations. The site is continually maintained by practising accountants and contains handy finance tools, various calculators, business templates, business articles and monthly business tax updates. Also included is a facility to obtain quotes on small business and professional indemnity insurance, plus tools to help business owners find the right accountant and much more.
For further media information or to arrange comment please contact:
JOE KALEB
B.Bus, Master of Taxation, CA, FTIA
Practicing Chartered Accountant
Founder & CEO
AUSTRALIANBIZ PTY LTD
Email:enquiry@australianbiz.com.au
Web: www.australianbiz.com.au
