We know a lot of our friends with commercial and retail leases are doing it tough – whether that’s because they’re running on reduced capacity, or their businesses are currently shut – however, there is finally some rental relief reprieve from state governments in addition to the rental relief measures in place from last year.

The NSW and VIC governments have just released updated Regulations which allow each business on a commercial or retail lease to seek rental relief from their landlord.

To help you kick start these conversations with your landlord, our friends at Law Squared have once again created some free resources which will provide guidance on the arrangements you can come to with your landlord given the difficult economic times caused by COVID-19.

These include:

1. Rental Relief Fact Sheet and Letter to Landlord (Victoria): Given the substantial differences between the 2020 Regulations and the recent Regulations, the Law Squared Fact Sheet provides great insights on the differences. You can then utilise the template letter which should form the basis of your rental relief request with your landlord. There are a series of input fields and comments throughout the letter to assist you in customising the letter for your business/leasing needs.
2. Rental Relief Calculator (Victoria): The Regulations outlines a number of tests to be applied to determine the rent waiver and deferral amounts. Law Squared have created a calculator to assist you in determining the relevant amounts.
3. Rental Relief Letter to Landlord (New South Wales): You can then utilise the template letter which should form the basis of your rental relief request with your landlord. There are a series of input fields and comments throughout the letter to assist you in customising the letter for your business/leasing needs.

These resources are now available for free through the Law Squared website.

If you have any queries related to the rental relief resources, please do not hesitate to reach out to Law Squared Founder, Demetrio Zema (dzema@lawsquared.co) or a member of the Law Squared team. They are more than happy to assist you during these unprecedented times.

Australian technology startups have certainly shone on the global stage in recent years. Brilliant minds across software, artificial intelligence, machine learning, automation, and other related fields have contributed major innovations within the tech space.

Getting any new business off the ground is no easy feat though. And in a hyper-competitive field such as technology, it can be particularly challenging.

If you’re embarking on a new venture, it’s likely that funding is weighing heavily on your mind. Whether you’ve only just begun or are almost ready to go to market, funding could be the ticket to get you to the next stage in your business journey.

Here are 7 ways to help you drum up cash so you can take those all-important next steps – be it testing new ideas, hiring new employees, or preparing to launch.

Read full article here

How can you boost your tech business’s cash flow with government incentives?

When you launch a startup, it’s natural to think being cash strapped comes with a territory. After all, you’ve likely seen plenty of movies and heard stories about the endless struggles of entrepreneurs who endure years of hard work before making a single penny.

However, our experience in the real world proves this doesn’t always need to be the case.

Although it’s reasonable to expect long hours as you invest all your time and energy into getting your venture off the ground, there are smart steps you can take to minimise the time it takes to reach a cash flow positive state.

And while you may be consumed by the technical activities of your business (where your passion lies), partnering with an advisor who can help you identify and take these smart steps can make all the difference.

One way an advisor may do this is by leveraging all available tax incentives and grants. Some of these are particularly valuable to technology companies and can provide a much needed cash injection into your business.

READ THE FULL ARTICLE HERE

Often, tech companies get started on a wish and a prayer.

The founders have a great idea, apply for an Australian Business Number (ABN), or set up a company, and don’t give the structure of this new business a second thought as they barrel forward with hours upon hours of development activities.

While setting up a company might provide some sense of security in the short term, the longer that founders go without properly evaluating their structure, the more difficult and expensive it is to change in the future.

This may not mean much in the early days, but when the value of intellectual property begins to increase so too do founder’s concerns about protecting it.

Start with the end in mind 

Every business needs a structure that is fit for purpose.

This means it aligns with the founder’s vision and goals for the business, such as whether they wish to:

 – grow the business
– run and hold the business
– publicly list the business
– sell the business

Even if the ideal structure or end state is not yet known, most (if not all) possibilities can be accessed if the structure provides enough flexibility from the onset.

A company is not always the best structure, and the same applies with a trust. The right structure considers a wide variety of elements – from who is involved in the company to the types of products and services you offer, to how and where you operate.

The disbursement of profits, application of capital gains tax, implications of tax across multiple jurisdictions and so on, can have a big effect on your ability to reach a cash flow positive state sooner rather than later.

READ THE FULL ARTICLE HERE

This was initially posted on The Fold Legal blog.

The Australian Finance Industry Association (AFIA) has released a new voluntary Buy Now Pay Later (BNPL) Code (Code) to address criticism that the industry is under-regulated and to enhance consumer protections. The objective of the Code is to encourage a customer centric approach, promote industry standards and drive an uplift in compliance. In doing so, the Code imposes several conditions and protections that go beyond the current legal and regulatory regime for BNPL providers. (more…)

As the rollout of the COVID-19 vaccine helps to encourage economic recovery, Australian Fintech companies, from start-ups to scale-ups, are in the sights of Private Equity (PE) investors.

PE firms have become increasingly more active in the Fintech sector, with $137.5 billion invested globally in 2019. (more…)