Business Risks

Do

• have all personal assets held by an entity not exposed to business risks.
• have these assets held in a separate entity(ies) and grant a licence to your operating entity to use them.
• ensure that your Directors & Shareholders loans to the business are secured by a PPSR registration charge over the business, thus becoming secured creditors.
• ensure you are aware of all of your obligations under business agreements, and if in doubt seek immediate advice from your business lawyer in Melbourne and/or accountant

Do Not

• have business assets, eg trademarks, plant & equipment & real estate held in the operating entity.
• provide guarantees for other parties without first obtaining independent legal advice.
• under-insure, consider ALL risks, and ensure you have adequate insurance to cover these risks.
• allow the bank to take security over your personal assets. Ensure they only take it over your business assets.