October 2015 – Wave Flux

Best 5 Productive Biz Apps for Online Entrepreneurs

The leading source for a great business idea is compiled from the small business tools at the initial stage. The term entrepreneur fits the exact meaning for “skilled gratitude person”. The startup brings an unbelievable career to the gratitude personalities. The small business owners and other online entrepreneurs start harvesting the currencies over the internet in these days by implementing a smart work.

There are several people in this world making huge cash and leading a pretty life using their strategy on online entrepreneurship.

The internet has become a day-to-day tool for billions of users worldwide. Targeting the specific and the tailored people for the business is just like a hide and seek game in this century. The one who works smart achieves his goal and the output with minimum effort than the one who works hard without any meaningful strategy. The usage of various handy tools could increase the efficiency of the business in this competitive arena.

Some of the “Best 5 productive handy biz apps for small business” are listed below.

Dropbox
MobileDay
Asana
Microsoft Office Mobile
Zoho Invoice.

1. Dropbox

Dropbox is an all time favorite tool for the small business owners to attain a great success. This is a cloud storing platform which could store the files and confidential documents securely without any issue. This service is widely used by several entrepreneurs and telecommuters as well for storing the data on the go. The best part in this platform is that the users get notification regarding any addition or deletion of any files by the colleagues. Thus, a team spirit and the team productivity increases widely. The handy application is also available for smart phones.

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Small Claims Division of Debt Recovery

The Local Court’s Small Claims Division was created to hear and rule over cases regarding small debt recovery. They also deal with claims for damages or demands. A small claim is considered anything of $10,000 or less. The goal of this division is to hold jurisdiction for quick, inexpensive, informal legal proceedings. Another important factor is that the normal rules of evidence are not applicable.

The Small Claims Division was originally made so that people could initiate small claims, without the need for legal representation. This is useful for those who would otherwise be unable to afford to make legal claims. However, it also means that the division is limited with how much they can award. The amounts must be in scale to the claims, and remain “small”.

Once the defendant has been served with a statement of claim, they can file a notice indicating that they intend to defend against the claim. The case is then scheduled for a pre-trial review, which will take place in front of a registrar. Both parties must try to come to terms at this pre-trial, without needing to take the matter further. If they can’t come to an agreement, a small claims hearing is organised. Contact competent Debt Recovery Lawyers

At a small claims hearing, all evidence must be given in the form of written statements or documents. There is no giving of oral evidence in this type of hearing. Evidence must also be filed around a month before the hearing takes place. Without the need for a more traditional court hearing, people can make claims without having to hire lawyers or defend themselves formally.

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Important Factors When Selling a Business

Anyone who is contemplating selling a business, needs to factor in a number of things. It is also best to seek legal and financial advice from a commercial or property lawyer. Below is a list of the most important things to consider when you want to sell your business.

What makes up your business? Are there any assets that would be sold individually? This basically amounts to figuring out what you are selling, as part of the business.
Is there GST to worry about, as with an ongoing concern?
Are you currently operating the business on a leased property? If you are, will the landlord let you transfer the lease to the buyer?
What other information are you going to give to prospective buyers? This might include records of accounting, or statements used to encourage people to buy the business. How accurate will they be? Be careful that you do not include inaccurate or fraudulent information while trying to sell the business.
What will be the implications of selling the business? This includes things like capital gains tax, GST, value of any stock that is still left over, and rollover relief – reinforcing the need for a commercial lawyer.
Are all of the financial records well organised and up-to-date?
Will it be possible for a buyer to keep the business running while it changes hands? They might need to hire new staff, or find new clients to deal with, for example.
What is the business’ competition like at the time of selling, and how is the marketplace?

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5 Things to Know Before Starting a Family Ecommerce Business

Setting up an ecommerce business comes with its own set of challenges and opportunities. Along with the intricate business strategy and planned details, you most certainly need a team of skilled experts who can take care of the technical aspect of your site.

Running an ecommerce business, and ensuring that all customer orders are dispatched on time and paid for, accordingly, is a trying ordeal and it is great to have as many hands on deck as possible. Some entrepreneurs include their friends in their business to help them take care of the different business operations, while others prefer to set up and manage a family run ecommerce business, which will prove to be an asset for all.

A family ecommerce business is a great way to setup an enterprise where everyone can contribute to take the family business forward. While a family ecommerce business is indeed a great opportunity for many, there are still some things which you will need to keep into account to make sure that your venture is a success. These things are,

Determine Business Structure

One of the most important elements of a business is its type of structure. In Australia, businesses can be a sole proprietorship, partnership, a company as well as a discretionary trust or family enterprise. The family or discretionary trust business structure is one which is ideal if you plan on setting up an ecommerce enterprise.

This business structure ensures great flexibility for the distribution of income, and also holds your business qualified to enjoy different tax benefits. It depends upon the structure details you decide, and you can split the family income with all the members who can gradually become beneficiaries of the trust. Each member will have to make tax payments on the amount of income they receive.

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Country of Origin Labels, New Requirements

Misleading information can take many forms, and country of origin labelling has been a hot topic and kept lawyers busy for some time in Australia. A new system for labelling has been approved by the Australian Government. The plan is for the new labels to start hitting supermarket shelves towards the end of 2015. The changes are related to Australia’s Country of Origin Labeling laws that were enacted in February. This is primarily due to a large number of complaints, regarding contaminated foods reaching the Australian supermarkets. One infamous incident involved berries that were said to contain Hepatitis A, which were brought into the country from China.

Who Will Be Affected?

Any business or manufacturer that sells food needs to be aware of the new labelling requirements. This includes any products that contain food, and not just fresh foods. Australian citizens were found, thanks to a survey, to be unaware of what “Made in Australia” actually meant. The new regulations are intended to eliminate this type of confusion. In the future, businesses will be required to specify which parts of a product are actually Australian.

When Will the Changes Take Place?

It’s expected that the new laws will be enforced in 2016, once State Governments are in agreement with the changes. For now, the Federal Government is hoping that companies will start to adopt the new labels voluntarily, by the end of 2015.

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Avoid Losing Money Due to a Lost Business Trust Deed

There are a lot of ways to lose money through business contracts, and stamp duties are a big factor. People lose huge amounts of money every year, and it is often due to the “traps” that they commonly fall victim to. One of these involves losing a business trust deed, and failing to follow the best course of actions to rectify the problem. If you want to try and avoid excessive fees, it pays to be aware of what to do. This article deals with some of the most common ways that people can deal with a lose business trust.

Losing Your Business Trust Deed

If the times comes when you want to make changes within your business, losting your trust deed can be a disaster. This includes if you must change your trustee, modify beneficiaries, sell assets or business, or carry out other dealings with the trust.

If You Have a Stamped Copy

If you have a copy of the trust deed that is stamped, you should be perfectly fine. For a nominal fee, you should be able to have a replica trust deed stamped. This is the best possible outcome in the above situation.

Unstamped, Unsigned, or Photocopied Trust Deed

But what if you are only able to find a copy of the trust deed that is not stamped or signed? This is not as desirable, but it can also work out well. You can lodge a statutory declaration with evidence of the trust’s “settlement sum”, at the time of declaration, along with your copy of the trust deed. There will be a penalty along with the duty for this, but it should not be overly expensive. Even if you are only able to locate a photocopy of the trust deed, you can stamp that in accordance to the Duties Act 1997 (NSW). Please be aware that if the trustee and settler sign this new copy of the trust deed, ad velorem stamp duties are likely to trigger.

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Behaviour Debt Collectors Must Not Engage In for Personal Debts

If you have been following the news, it should come as no surprise to learn that debt is high in Australia. With more people owing money, and also having less money to pay back their debts, there’s a good chance that you have some debt of your own. Otherwise, many people are on the other side of the money lending. When dealing with people who owe you money, or those you are in debt to, there are ways to behave. More importantly, there are some types of behaviour that creditors or debt collectors are to avoid.

Debt collectors are not to harass someone who owes them money. This includes physical threats, of course. But it also expands into the realm of contacting someone more than needed, or doing so during odd hours. The Competition and Consumer Act 2010, as well as other laws, actually make this type of behaviour illegal. Even if someone owes you money, it is against the law to harass them in any way.

Debt collectors must avoid any behaviour that would be considered unconscionable. That basically means that they must act in a fair manner. For example, suppose someone is ill, ignorant of their rights and the laws, has impaired judgement or abilities to discuss matters properly, or no experience in this area, and the other party takes advantage of one, or more, of these things. That would be considered unconscientious behaviour, and it is against regulations.

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