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Family Business

Seek advice at the start

By Tony Hercok

THERE are a number of legal considerations when starting a business. Many challenges faced by business owners could have been avoided had proper advice been sought from the beginning.

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18 April 2015

MEETING OBLIGATIONS

Managing working capital in your FB

WORKING capital can be defined as the difference between your family business current assets and current liabilities.

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09 April 2015

WHEN TENSIONS ARISE

Managing conflict in the family business

CONFLICT shouldn’t be viewed by family businesses as something to avoid at all costs. The positive outcome of any well-managed conflict – or ‘creative tension’ – can be that it helps family businesses take advantage of diversity and build their competitive advantage.

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09 April 2015

DNA CULTURE

Successful management of DNA embeds values

SETTING up and managing a family business is one of the most challenging things anyone can do. WSBA asked Leanne Hegerty, Partner Private Enterprise at KPMG to answer some questions relating to the keys issues around setting up and managing a family business.

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Be the devil’s advocate in your business

PASSION and vision are two characteristics that make a good leader. It’s important that these traits be tempered by humility.

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Proper planning can secure the future

WHILE it’s not always top of mind for business owners, succession planning is critical to ensuring the long term success and value of the family business. A well-considered and successfully executed plan is key to securing a stable and sustainable future.

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Importance of keeping it all together

STARTING a family business is easy, relatively speaking; sustaining it beyond a couple of generations is more challenging. It’s often said that the typical family business goes from rags to riches and back to rags in three generations.

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logosmallWestern Sydney Business Access (WSBA) covers the business and community issues of the Greater Western Sydney region of Australia. WSBA is the popular media source for connecting with the pulse of the region and tapping into it's vast opportunities and networks.