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Housing : March 2009
Building Your Business Are you being Trading terms Are you using well-structured written contracts that comply with laws (for example, consumer protection laws for domestic building work)? If you supply materials, does your contract include a lawful retention of title clause which also provides access to retrieve unpaid goods? Do your trading terms and processes aid debt recovery? Does your trading risk require guarantees and indemnities? Do your trading terms include default interest? Do your trading terms include debt cost recovery? on stair prices? Then think Stair Lock. Save up to 20% on stair prices! WHY BUY FROM ANY OTHER R MANU Company structures Do you have a shareholder’s agreement in place? Do you have good corporate governance practices in place? Insurance Do you have crossed-owned insurance? Do you carry adequate insurance for your business structure? Have you lent your business money and is it secured? Personal protection Do you have a will? Has it been reviewed recently? Do you need an enduring power of attorney? Protecting the business Do you need to protect your building designs? Do you own your business name, logo or system? Do you own your inventions and methods of work? Is there a need to use confidentiality and non-disclosure agreements? Protecting your business from past employees Do your employee contracts include ‘restraint of trade’ provisions? Do your employee contracts include confidentiality provisions? Operations Are you valuing Work in Progress correctly? Can you move on ‘dead wood’? Have you reviewed all cost centres in your business? Have you asked your employees where ‘the fat’ can be trimmed, i.e. asked them to identify where costs are excessive or there is too much wastage? (Take care to only trim ‘fat’ and not ‘muscle’, i.e. those elements of your business that help strengthen it.) Have you put cost control measures in place? This guide is aimed at the building industry and is not meant BRISBANE, SYDNEY, MELBOURNE, ADELAIDE Freecall 1800 088 219 Fax (08) 8252 4556 www.stairlock.com.au to be an all-inclusive or exhaustive list of all the actions you can take to protect your business. It is intended to be a quick business health check to get you thinking how you can best protect your assets. H ST308/A HIA/NAT HOUSING MARCH 2009