Workshop 5: Using Different Legal Structures
November 16, 2017
About this workshop
This workshop will cover how to use business entities to your advantage.
You have a basic understanding of trusts, companies, partnerships and operating as a sole trader. You or your accountant may have set up your business with one or more business entities and you have been discussed them at “tax time” each year. Alternatively, the organisation you work with is a trust, company or partnership.
This workshop will take a step beyond basic business structuring and consider the pros and cons of different entities for wealth creation, succession planning, strategic fit and risk management. Prepared with rural and regional Queensland small business owners or managers in mind, you can be sure the workshop will be relevant to your business or enterprise.
- Wealth creation – can you set up your business in a structure that utilises lower tax rates than your personal marginal tax rate?
- Succession planning – is your business structured to allow ease of future transfer (gift or sale)?
- Strategic fit – could your business structure be better aligned to your business plan in terms of growth and goals?
- Risk management – what appetite do you have for business risk and does your business structure limit your risk exposure?
What you will need
- Internet connection and computer or phone (preferably with headset – mobile or landline)
- Your log-in link, which you will receive when you register (click on the appropriate link in the email to access the virtual workshop)
Thursday, 16 November 2017, 10:00 am – 12:00 pm
Prof Retha Wiesner, WiRE Program Director
Nicola Grummitt, Fox & Thomas Lawyers
Nicky Grummitt is a straight shooter, passionate about small business support and focused on providing practical results.
Based in Goondiwindi, Nicky shares her time between G-Fence, the contract fencing business she runs with her husband Ed, practising as a solicitor in the business and estate planning team at Fox & Thomas Business Lawyers, and caring for her young family.
With real-world small business experience and a decade of working in both legal and accounting practices, Nicky has a good understanding of the challenges facing regional and rural businesses.
Strongly optimistic about small business growth in regional Australia, Nicky gets a real kick out of helping business owners take ideas and turn them into actions.
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