Monthly Archives

December 2016

Presenter Doug Constable About What Happens When you Become a Director and not Just an Investor in a Family Business?

By | Doug Constable | No Comments

doug-constable
Doug Constable: Do you want to help a family member start their business – by investing some money as startup capital? Think twice before deciding to become a director as well. Savvy investors know that when they put cash on the line (either through shares or venture capital), they have a great chance of never seeing that money again. But since they aren’t usually directors, they don’t share the liabilities if any debts are incurred. Do your research and invest wisely. If you don’t think that the person you’re investing in can actually run the business, think again before putting up the capital!

#Doug Constable #Director #Investor

Read More

Presenter Doug Constable About The Most Common Reason Businesses fail: book-keeping

By | Doug Constable | No Comments


Doug Constable: In this episode of Doug on Debt: we talk about how book keeping may be better done through an external provider, rather than a family member. Often, business’s get into trouble because an unpaid family member is used to do the books save money, only to prioritise family matters over the running of the business. By using an external book-keeper, you’ll take out all of the emotions from money-management and concentrate on proving the product or service that your business is all about.

#DougConstable #Businessesfail #bookkeeping

Read More

Presenter Doug Constable About Should You Pay Fines Even If They’re Not Yours?

By | Doug Constable | No Comments


I had a friend come around the other day to fix his car which had broken down on a previous visit and so had to leave it at my place. He was catching the bus to come and get it going when his wife rang him and said that the sheriff had turned up. He had come calling in relation to some parking fines on cars that were in his name, but which his employees were driving.

#DougConstable #PayFines

Read More

Presenter Doug Constable on Too Many Company Directors?

By | Doug Constable | No Comments

doug-constable-youtube-video-6
One of the issues I see regularly is where a company gets itself into difficulty and the directors are responsible. In Australia, a business only really needs one director in control of a company. But quite often, what happens is what actually happened to one of my clients recently. They have a tax debt and have been issued with directorss penalty notices. At the time, it was a father and son, and the father put some money into the son’s business, but he also wanted to be a director to have some control. Consequently they are both responsible for the debt.

#DougConstable #CompanyDirectors Read More