Recent Precedent 2011 - Issue 2
Protecting Yourself and Your Business
At Dooley & Associates we are all about protecting you & your business. As the saying goes, ‘prevention is better than a cure’. Our complimentary Business Health Check is designed to help you identify relative strengths and weaknesses in your business. This assists you in addressing any concerns before they become a problem for you.
Areas of Risk
You and your business are exposed to legal risks every day. It is important for you to understand what those risks are and to take steps to ensure you limit your exposure. Here are some of the key areas which you need to think about:
* Identifying risk: Has anyone threatened to take action against your business, or lodged a complaint? Are you aware of any dissatisfied customers or suppliers? If so, deal with the issue now, before it grows. Often, all people want is to receive some respect and be listened to.
* Up to date documentation: You can be held personally liable for a number of your company’s debts if your financial records aren’t up to date or your business is non-compliant. You can also be sued & prosecuted for failing to maintain, and provide, up to date employment information.
* Information systems: Are your databases in order? Do you have sufficient I.T. back ups to multiple locations on and off site (e.g. tapes, external disks and/or web-based back ups)?
* Insurances: Do you have sufficient Workers Compensation, Public liability, building, contents, vehicle & other insurances? Do you have specialist insurances, such as legal fees insurance and insurance against defamation, unfair dismissal & discrimination claims?
* Harassment & Discrimination: Do you have written workplace policies & procedures for all of your personnel? Do you conduct regular training & retain evidence that this takes place?
* Providing Credit: Do you provide goods or services before you are paid? Are you a member of a credit reporting agency? Do your contracts contain a “retention of title” clause so that you continue to own those goods?
What to Do?
We are here to help you excel. Contact us on 1300 306 335 to book a Free Business Health Check so we can help prevent these and many other problems from arising.Back