Advivo Managing Partner, Leon Stephan, explains why all family businesses need good governance to thrive. It is common knowledge family business is the engine room of Australia, representing approximately 70% of all Australian businesses and employing approximately 50% of the workforce. One of the strengths of many small/family businesses is being nimble/agile and able to…
Advivo Partner, Chris Morris, outlines the essentials for successful CEO succession planning in small businesses. CEO succession planning is not solely the terrain of large corporations; it holds equal importance for small businesses. While the scale may differ, the impact of leadership transitions on small enterprises can be equally profound, if not more important to…
Advivo Managing Partner, Leon Stephan, outlines the considerations you must make when it comes to the timing of your succession plan. Most small business owners make more (after allowance for their normal commercial wages for time spent working in the business) out of the sale of their business rather than operating the business. So, it…
Advivo Partner, Dale Edwards, explains how to navigate when your children aren’t interested in being part of your business’s succession plan. For many entrepreneurs, the dream isn’t just about building a successful business; it’s about creating a lasting legacy that can be passed down through generations. However, what happens when the next generation doesn’t…
Advivo Partner, Chris Morris, outlines what goes into creating a successful family business. First Published: August, 2019 Updated: September, 2023 I worked in the family business for nearly 13 years, and during that time I worked with my father, my mother, my brother, my grandfather, my stepsister, my stepmother and my cousin, whom…
Advivo Partner, Dale Edwards, shares insights into why you need to make estate planning considerations even if you don’t have a family business. In this blog, we are talking about the relevance of estate planning to businesses that have several, unrelated owners. These are common and have two or more owners who have worked together…
Advivo Partner, Chris Morris, shares the most important reason why an estate plan is important for anyone with a discretionary trust. To save you reading to the end, if you want one reason, it’s this: to help ensure your wishes have the best chance of being fulfilled. If you want to understand why and where…
Advivo ICP, Managing Director, Trevor Holmes shares some of his experience on how to make sure your next product launch has a higher chance of success. Got a great idea that you know customers will want, need and value? Good. Being a creative organisation that has a propensity to always be thinking about how to…
Advivo explores the benefits of seeking help from an SMSF Accountant There are many reasons for starting up a Self-Managed Super Fund (SMSF) and one of the main reasons is that it gives the trustee greater control and flexibility to invest in certain assets. But if you’re unfamiliar with SMSFs or in the process of…
On 1st November 2021, the ABRS was launched to implement the applications for DINs. It was a staggered approach to allow time for everyone to apply, however, all Directors must have their DINs by 30th November 2022. What is a DIN? A DIN is a 15-digit number that identifies you as a company director.…
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