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2021 Business Insight Virtual Series | Episode Four
Money - Make It, Keep It, Protect It!
Money – We need to make, we need to keep it, we need to ensure it ends up in the right hands as we progress through life. Businesses have a life cycle. Have a think where you are in your life cycle with regards to the stages below:
- The Seed
SO WHAT LIFE CYCLE ARE YOU?
Can you identify something you should do now with/for your business? Through the business life cycle you’ve made the money. How about keeping it through that cycle and beyond.
This is where structuring your business is really important. Is it a sole trader, a company, a trust. These structures all have different advantages and disadvantages.
The key to choosing the right structure is around:
- Protection – you don’t want to lose your personal assets if something goes pear-shaped in your business
- Family – what is your family structure – partner, kids etc. There are tax advantages that can be utilised with family members
- Risk – is the business a risky business ie asbestos removal may be classified as risky
- Succession planning – if you want to pass it down to family members or maybe employees
- Saleability – if you are selling the business, then some purchasers need a certain structure to be able to buy into ie IP entities are normally companies so that the purchaser can buy directly into the company without affecting the contracts in place with the IP entity.
About Bronwyn Condon:
Bronwyn is the Managing Partner of Marsh & Partners and has more than 25 years’ experience in business development and management accounting. Joining Marsh & Partners in 1994, she quickly moved into management roles and, as a Partner, has been integral to the firm’s growth and success.
As a business owner herself, she gets it. Running a business is hard work. But, when it’s all working well and you’re on the right track, it’s also a lot of fun. Bronwyn works with businesses on strategy and long-term vision so you can feel you are in control, working with purpose and have time to enjoy the benefits of working for yourself.
Her passion is getting businesses into shape so owners can work on their other goals – whether that’s a new project, wealth creation outside the business, or moving on from the business. Bronwyn wants to be part of the journey by bringing clarity and support to business owners who feel like they have to do it all themselves.
About Business Insights Virtual Series:
Women’s Network Australia provides women in business with support and education to survive and thrive. Given the ongoing uncertainty in some locations due to COVID-19, we are kicking off the new Financial Year with our Business Insight Virtual Series – virtually connecting with our national membership and the business community.
In the 2021 Season of WNA Virtual, you will hear from inspiring speakers and business leaders who share their secrets to business success. The series also includes a health and wellness component. Let’s face it, sometimes we need to be reminded to take the time out and look after our mental health and wellbeing.
This virtual will be hosted via Zoom. You will need to have is a ‘strong’ internet connection and a webcam so participants can see and interact with you. You will be provided the Link once you have registered.
PLEASE NOTE: This Event will be recorded and sent to all paying participants.
Single Tickets: WNA Members: $19.00 | Visitors: $39.00 (all inclusive of GST)
Season Pass: (includes one complimentary session):
(Future Date: 9 November).
WNA Members: $75.00 | Visitors: $155.00 (all inclusive of GST)
Join WNA now and book at the member rate.