The governance guide for family businesses part 3: Directors and the board
Below is part 3 of our governance guide for family businesses. To read the other parts of this series, click the links below: Part 1: Why governance matters Part 2: Members and owners Part 4: Management and executives Becoming a director in your family’s business is a sign of trust, a way to contribute, and the next chapter […]
The governance guide for family businesses part 2: Members and owners
Below is part 2 of our governance guide for family businesses. To read the other parts of this series, click the links below: Part 1: Why governance matters Part 3: Directors and the board Part 4: Management and executives As the owner of a family business, you pour your heart, time and capital into building something […]
The governance guide for family businesses part 1: Why governance matters
Below is part 1 of our governance guide for family businesses. To read the other parts of this series, click the links below: Part 2: Members and owners Part 3: Directors and the board Part 4: Management and executives Family businesses are the backbone of the Australian economy, employing millions and generating substantial wealth […]
No contract, no deduction: Why you need to keep inter-entity service agreements up to date
We have said it before and it bears saying again – documentation is important. It is common practice for corporate groups including family businesses, professional firms, and medical practices to provide different services to each other to allow the overall group to carry on its operations. For example, a dedicated manufacturing entity might sell its goods to the group’s retail entity, or a […]
Is a director personally liable for company debts?
Running a business, whether large, small or a family business isn’t easy. You’re constantly balancing cash flow, staff, suppliers, and pressure from creditors coinciding with the eternal goal to grow. Sometimes due to extenuating circumstances; whether that be market down swings, international relations or family dysfunction, the company begins to face financial pressures. At that point, the question begins to form, […]
How to get board ready: 5 essential steps for aspiring directors
Joining a board of directors is a significant responsibility that requires careful preparation. Whether you’re an experienced executive or an aspiring board member, ensuring you are fully equipped for the role is crucial. Here are five key steps to help you get board-ready and excel in your directorship.
Director loan repayments and solvency: what makes them ‘reasonable’
It is not unusual for companies, particularly newer, capital-constrained ones, to accept loans from, or make repayments to directors (or their associates). This might be for working capital, bridging shortfalls, or to enable new business initiatives. However, director-related loans carry unique risk: in a liquidation, a liquidator may seek to claw back some or all […]
Bucket vs Banker: How the right company structure can supercharge your family wealth strategy
Two strategic tools, the ‘bucket company’ and the ‘banker company’. Both strategies offer high-net-worth families a way to cap tax exposure, preserve capital, and support long-term intergenerational planning.
Being a director of a family farm: it’s more than a title
In Australian farming communities, family means everything. It’s not unusual to see surnames etched into gates, signposts, and silos, each a tribute to generations of hard work. But behind the name on the gate, the way a business is legally structured can make or break a legacy. And one seemingly harmless paperwork decision can lead […]
Building your business’s legal backbone: The key legal documents that will keep your business standing strong
Starting and running a business successfully requires more than just a great idea and a solid business plan; it also requires a strong legal foundation. Without key legal documents in place, even the most promising business can face unnecessary risks, disputes, or even shutdowns.