Does the location of your startup determine how successful it will be? Absolutely. The nearer you are to your materials, labor power and your target market, the more chances you’ll have of success....
What is Voluntary Administration? Voluntary administration is a strategic approach taken by companies facing insolvency, which means they are unable to pay their debts as they become due. The...
What is Receivership? Receivership is a legal process used by secured creditors to recover debts from a debtor business without forcing it into liquidation. This process involves appointing an...
What is Insolvency? Insolvency occurs when a company or person faces such significant financial difficulties that they are unable to fulfil their financial obligations. In Australia, engaging in...
What are Ordinary Shares? Ordinary shares, often referred to as common stock, are units of equity ownership issued by a company primarily to its founders. These shares grant holders certain...
What is a Creditor? A creditor is an individual or entity to whom a company owes money. This financial obligation can arise under various circumstances, such as providing the company with goods or...
What are Secured Creditors? Secured creditors are individuals or institutions that have lent money to a company with the provision that they receive a security interest against the company's...
What is Liquidation? In Australia, liquidation refers to the procedure for wrapping up a company's operations, especially when it faces insolvency or is on the verge of it. This procedure entails...
ABN vs ACNABN and ACN are two separate identification numbers with different obligations. The primary difference between ABN and ACN is determined by the businesses that are required to use them....