SBS Finance and Property in Mulgrave | Financial service

SBS Finance and Property

Locality: Mulgrave

Phone: +61 432 940 790

Address: 77 Mackie road 3170 Mulgrave, QLD, Australia

Website: http://www.soniezgroup.com.au

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25.01.2022 Are you purchasing business ?? Purchasing any business, whether online or physical, is a big step. As such, there are some key legal and commercial consideratio...ns involved. The legal stages of purchasing an online business are similar to purchasing a physical business. Much like any business purchase, it is important to conduct legal and financial due diligence. Doing so will help ensure you are purchasing a business that is suitable for you. In this article, we explain the key considerations for purchasing an online business. Sale of Business Process The key differences between purchasing online and physical businesses are: it is unlikely that online businesses will have a shopfront or office space with a lease; and there are less physical assets involved in an online business. However, in terms of the legal documentation and process, the sale of both types of businesses are fairly similar. There are usually three stages involved in purchasing an online business: 1.reviewing the sale of business contract; 2.negotiating, finalising and signing the sale of business contract; and 3.finally, settling the purchase of the business. What Assets Are Included in the Sale? Intellectual Property (IP) The IP is crucial to the business and it can be made up of: the business name; the domain name; social media; trade marks; and the content on the website. You will need to clarify who owns the IP in the business and if the seller can rightfully transfer these assets to you. For example, you will want to find out who owns the content on the website. If there are photos on the website, you should ask the seller if a photographer took them as they could own the IP rights to the images. The same goes for the website content. You should ask the seller if they had engaged a website developer who may own the IP and has assigned the rights to the seller. Ultimately, you want to ensure that you obtain: ownership of that IP by requiring the owner to assign it to you; or a licence to use it. Whether you are assigned or licensed the IP will depend on the nature of that IP, who created it and who has ownership of it. The IP of the online business is often the most important asset that needs to be transferred in the sale. E-Commerce Business Most online stores will not manufacture their own stock. Rather, they obtain stock from a supplier. When purchasing an e-commerce business, you will want to ensure that your sale contract includes the stock of the business as an asset that will be transferred to you. To ensure the quantity and quality of the stock are suitable for you, it is best to undertake a stocktake prior to the settlement date. This is particularly important if the seller requires you to pay for the stock in addition to the purchase price. The sale contract should also require the supply agreements the seller has in regards to their stock to be transferred to you as part of the sale. Depending on the terms of the supply agreements, you will likely need to obtain the consent of the supplier to do so. Usually, an e-commerce business will have legal terms on its website, including: terms and conditions; website terms of use; and a privacy policy. If the seller does not have these ready, you should consider having them prepared before you begin operating the business. Software Business Software businesses revolve around the software and apps that developers create. Many software businesses rely entirely on code created by the owners of the business or by third-party developers. Important considerations here are the: use of IP licences; and ownership of the code and IP. If you are purchasing a software business, you will need to check: who owns the IP of the software; and how it can be assigned. In some instances, the business will have a licence agreement in place with developers to use their code in the software systems, but will not have ownership of that code. It is vital to conduct thorough due diligence of the software and any agreements the seller has in place with developers. You will need to ensure you either: obtain the ownership of the IP in that software as part of the sale; or have the seller’s agreements with their developers assigned to you. Client Information Retaining existing customers is important for any business. Therefore, if the online or e-commerce business that you are purchasing has a customer list or database, this should be included as part of the sale. Privacy Considerations A small business that is transferring its customer database will need to comply with the Australian Privacy Principles (APP). There are specific requirements that apply to the transfer of personal information during a business sale. As such, you should ensure that you are complying with these during the sale. Generally speaking, the seller will not always need to seek consent from the customers of the business to transfer their personal information if you: are an APP entity (or about to become one as a result of the purchase); and are purchasing the business as a going concern; and plan to use the information in the same way and for the same purpose as the seller. However, in some instances, the seller may have to obtain customer consent, especially where the information may be used by you differently after the sale. Revenue of the Business When conducting your due diligence, you will also want to know how the seller receives payment from its clients. In doing so, you will need to consider whether the seller: has subscription agreements with its customers for the use of a software system; and engages any third party payment providers such as PayPal. You will need to consider if you are comfortable continuing the same payment arrangements as the seller had with its customers, or if you intend to put in place new payment terms. It is best to set out your terms with the customers of the business in your terms and conditions. ( this article is being copied from information email that was received from legal vision, and legal vision are the owner of the contents)

13.01.2022 is property bubble bursting or is it a big correction ??

12.01.2022 Open Banking in Australia 19 October 2018 Finance is changing in Australia. Find out what open banking is and how it affects you. What is open banking?... Open banking will give you greater control of the data that banks and other financial institutions currently hold on you. Right now, it's difficult for you to get a hold of your full financial data and for banks to send that data to each and to other companies. This makes it costly, difficult and time-consuming to find the best product or service for you and also to switch to the product or service. Open banking will allow you to direct your data to be sent to other banks, financial institutions and authorised organisations when you want to. You control who holds your data and how it is used. Courtecy of finder.com.au sourced form internet

08.01.2022 Soniez Group #Accounting #Loans #Conveyancing #FinacialPlanning #Migration # Love working with great team

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03.01.2022 There are only 3 strategies for earning money. Pay close attention. Now, before I start into them, here's something you want to burn into your mind. ... If you don't teach your children how to earn money, odds are pretty good they're not going to learn. School does not teach us how to earn money. You can go to Harvard, Oxford, Yale or Stanford it won't matter. They do not teach you how to earn it. They'll teach you how to invest in. They'll teach you how to store it. They'll teach how to count it, but they do not teach you how to earn it. Now, there's three strategies. 1. This strategy is used by 96 percent of the population and it won't work. It never has worked. This is where you trade your time for money. This strategy has an inherent problem. It's called saturation. You run out of time. I don't care how effective you are. I don't care how much you are in an hour, you're going to run out of time. You're trading your time for money. It does not work. 2. This is where you invest money to earn money. Now people in the number one strategy, they hear about this and so they squirrel a little bit of what they're earning away and they invested, but they don't understand how to invest it and they usually lose it. If you're gonna invest money, you really got to know what you're doing or go to somebody that has proved that they know what they're doing. 3. This is used by one percent of the population, but they hold 96 percent of all the world’s wealth. These are the people who multiply their time by setting up multiple sources of income. The truth is you can set up sources of income where you're earning money while you're sleeping and it's never been easier than it is today with the Internet. I’m going to tell you if I ever met anyone that understands making money on the internetit’s Adrian. Adrian Morrison is an absolutely brilliant man. In a matter of a few years I’ve watched Adrian make as much every month as he used to make in an entire year! He’s holding a webinar this week that shows you exactly how he's been able to sell millions of dollars in free products. Free products are powerful because everyone wants to tell their friends about a free giveaway! * He'll go over how to setup your store * Where to find free, viral products * How to add gasoline to viral products using ads. Sign up: http://invite.esaworkshop.com/bob This is the perfect time to get started in eCommerce. The average social media user has 338 friends. Just one of his ads has had 22,060 people share it with all of their friends on Facebook. Do the math and you can see how many potential people saw his ad without having to pay a single penny. 338 x 22,060 = 7,456,280 people. Yes, that is over 7 million potential eyeballs on one single ad without paying a single penny to advertise to them. Now that is the power of the word free. Now, this is just the tip of the iceberg for this strategy. It’s much easier to show you live demos and such on a webinar, to see more in-depth training on this register for his free webinar training below: http://invite.esaworkshop.com/bob

01.01.2022 do you have an existing business loan with major bank ? Want to know about Govt benefits ? 1300 771 900 press home loan option.do you have an existing business loan with major bank ? Want to know about Govt benefits ? 1300 771 900 press home loan option.