WHEN TAKING CARE OF BUSINESS MEANS TAKING CARE OF YOURSELF

The Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, has urged small business owners to take time early in the new year to take stock of their mental and financial well-being.

“When you own a small business, it is just as important to spend time working on your business as it is to spend time working in your business,” Mr Billson said.

SMALL BUSINESS INSOLVENCY LAWS NEED OVERHAUL

Small businesses should have better access to ‘debt hibernation’ instead of being made insolvent when they face a crisis beyond their control, so they are better able to pursue a credible restructure, save jobs and rebuild, according to the Australian Small Business and Family Enterprise Ombudsman, Bruce Billson.

It is one of several recommendations made by the Ombudsman to improve Australia’s insolvency laws which are being reviewed for the first time in more than three decades.