In small business, a key asset protection strategy is to set up an investment trust outside of your main trading trust.
This investment trust is what buys your investment property.
You need to do this because you cannot have it in your name as the director of the company who is running the business. This is far too risky in a litigious society.
Imagine you have put all of your life savings into buying a business. You spend years dedicating your heart and soul towards it. You listen to financial advice and take every measure to do the right things. Still your business is failing. The figures are wrong. It’s heart wrenching. Our advice? Let it go. ASAP.
I would never try to tell you how to suck eggs or run your business because you know your industry but I will tell you how to Suck Hard Boiled Eggs. What I mean is watch this, listen, take notes and follow. You’ll find out the easiest way to run business/private bank accounts and credits […]