Optimize Your Business Today!
Get A Free Consultation
Don’t Settle For Less
Our Consulting Services
Do you want to reach more people who need what you have to offer?
Have you tried online marketing & promotion?
You have a website, a newsletter and maybe even a blog, but you don’t get enough traffic or results from them
You’ve joined some social networking sites, but you’re losing time every day trying to keep up with them and figure out how to get noticed by the right people
Supporting Local Australian Businesses
Our blog is set apart from other businesses. Unlike other companies that use a blog as a platform to act like they are the authority on everything, we use our blog to lift up Australian businesses and provide a look into the industries that are benefitting the economy in Australia.
However don’t be dismayed. We also provide some great insights into how to improve your business. Want more tips? Reach out to us on the contact form on this page or visit our contact us page.
Hey there fellow Aussies!
Here at Key Business Partners are passionate about supporting local Australian businesses, and today we want to talk to you about the importance of supporting our local apparel manufacturers.
When it comes to clothing, it can be all too easy to head to the big department stores or fast fashion retailers and pick up the latest trend without thinking about where it came from. But did you know that by supporting local Australian apparel manufacturers, you’re not only helping to keep our economy strong, but you’re also helping to preserve our unique Australian identity and culture?
Local Australian Shapewear
If you’re looking for shapewear in Australia, there’s plenty of options to choose from. Shapewear is a popular product line among many women, but did you know that most of it is imported from overseas? This is because many companies, particularly those based in developing countries, can produce shapewear at a lower cost due to cheaper labor and production costs. Which is bad for a number of reasons.
While it may be tempting to purchase shapewear from overseas companies due to their lower prices, it is important to support Australian shapewear companies for several reasons.
Firstly, by supporting local businesses, you are helping to keep jobs in Australia and keeping money within our economy. Moreover, supporting Australian shapewear companies ensures that the products are ethically and sustainably made, as they are held to higher standards of labor laws and regulations.
Additionally, supporting Australian shapewear companies ensures that the products are tailored to meet the needs of Australian women, taking into account factors such as climate and body shape.
Furthermore, buying from local companies also guarantees the quality of the products. You can be assured that the shapewear is made with quality materials and has been tested to ensure it is comfortable and effective.
Case Study: La Sculpte
Take for example La Sculpte, they are the best business out there if you’re looking for Australian shapewear. La Sculpte is an Australian apparel business that produces shapewear, activewear and swimwear products. These products have a particular focus on providing sizes to suit any body shape, shapewear products to make women feel more confident and comfortable in their clothes as well as stylish and modern patterns and designs.
Firstly they support the local economy and they use sustainable materials that are ethical and recycle nylon waste and materials from abandoned fishing nets. By using this technology they are able to reduce the amount of waste ending up in landfills and oceans around the world.
Additionally, they provide clothing that meets the needs of the Australian public. Overseas businesses will tend to provide clothing that is tailored to their markets. La Sculpte provides styles that Aussie women will want to wear. Not to mention that La Sculpte also provides much more appropriate sizing for the demographics. For example, La Sculpte provides plus size shapewear to provide any Australian with the right clothes they need.
We highly recommend that you support local Australian shapewear businesses like La Sculpte. Visit their website here and check out their full range of products.
The Other Benefits of Supporting Australian Businesses
One of the main benefits of supporting local apparel manufacturers is that it helps to keep jobs in Australia. Our local manufacturers employ skilled workers who are paid fair wages, and by supporting them, we’re helping to ensure that these jobs stay in Australia, rather than being outsourced to other countries.
But it’s not just about jobs, supporting local apparel manufacturers also helps to keep our economy strong. When you buy from local manufacturers, you’re keeping money within our economy, rather than sending it overseas. This helps to create a virtuous cycle of economic growth, as the money you spend with local manufacturers can then be used to create new jobs and opportunities within our community.
Another benefit of supporting local apparel manufacturers is that it helps to preserve our unique Australian identity and culture. Our local manufacturers are often inspired by the natural beauty of our country, and they use this inspiration to create clothing that is truly unique and reflective of our Australian identity. By supporting them, we’re helping to ensure that this unique Australian identity is preserved for future generations.
But perhaps one of the most important benefits of supporting local apparel manufacturers is that it helps to ensure that the clothing we wear is ethically and sustainably made. Just like La Sculpte from above, our local manufacturers are often small businesses that are committed to using eco-friendly materials and ethical manufacturing practices. By supporting them, we’re helping to ensure that the clothing we wear is made in a way that is good for the environment and for the workers who make it.
So, next time you’re in the market for some new clothes, we encourage you to take a look at what our local apparel manufacturers have to offer. Not only will you be supporting our economy and preserving our unique Australian identity and culture, but you’ll also be doing your bit to ensure that the clothing we wear is ethically and sustainably made.
By supporting local Australian apparel manufacturers, we’re not only doing our bit to help keep our economy strong, but we’re also preserving our unique Australian identity and culture and ensuring that the clothing we wear is ethically and sustainably made. So next time you’re looking for some new clothes, be sure to check out what our local manufacturers have to offer. You’ll be doing your bit to help build a better future for all Australians.
Thanks for reading, and remember to always shop local!
If you are thinking about buying a business, there are several things you should do from a legal, financial, and general business standpoint. Getting the appropriate guidance from the beginning is critical. When you acquire solely the business assets, the structure and difficulties involved in the sale are substantially different than when you buy shares in the corporation that owns the firm.
Making sure you follow the proper procedure before signing any paperwork is essential for successful company purchase.
The following are the most important things to perform before signing a contract:
- Due Diligence investigations
- Seek expert assistance.
- Examine and comprehend all documents
1. Due Diligence
Due diligence entails analysing the business’s records and other information to ensure:
- Sales are as good as the proprietor claims.
- The business systems are reliable and well-documented.
- There are no serious legal responsibilities or liabilities for the company.
- The transaction will include all relevant information, rights, and assets.
- The cash flow is stable.
- Employees will be pleased with the new owner.
- Once you take control, customers will remain loyal.
You are familiar with the market’s/operations industries and potential.
Wherever feasible, perform due diligence before signing any contracts.
2. Professional assistance
To avoid legal and financial (including tax-related) “surprises” and arguments, later on, you should always consider briefing and employing legal and accounting consultants to assist you in doing due diligence and documenting the transaction.
You might also consider whether there are any industry-specific experts that may be useful. For example, Sunshine Coast residents who are looking for buying a business advice might seek out BizBrokers. BizBrokers are Sunshine Coast Business Brokers that specialise in helping people make the right decisions when purchasing a business. It’s important to seek the help of a business broker to make sure that the business you are purchasing is suitable for you and matches what they claim they are selling.
3. Examine and comprehend the documentation
When buying a business, there is a lot of paperwork to acquire, read, and comprehend.
The seller may request that you sign a confidentiality agreement to prevent you from utilising sensitive information for any reason other than purchasing the firm. Before you sign the agreement, be sure you completely understand it.
The following information should be gathered and reviewed.
Statements of financial position
It is advisable to get current and historical financial information for the company, which should include:
- Statements of profit and loss
- Assets and liabilities are identified using balance sheets.
- Debtor and creditor lists
- Copies of any BASs filed by the company
List of plant, equipment, assets, and stocks
You should get a list of any plant, equipment, or assets that are being sold, as well as current assessments, proof of ownership, and information on applicable warranties and guarantees.
Details of any stock sold with the business should be addressed and agreed upon with the seller, as should how it will be tallied and priced at settlement.
You should also conduct thorough searches of the Personal Property Securities Register to ensure that security interests required for the business (such as over-sale equipment leased to third parties) have been registered and to determine whether any relevant security interests are held by third parties.
Customer and supplier lists
Customer and supplier relationships contribute to the company’s goodwill, and a list of all relevant contact information should be provided so that you may initiate contact and maintain an ongoing connection.
If the firm is being acquired as a continuing concern and the buyer is assuming employee responsibilities, a list of workers, their job descriptions, salary, years of service, any disciplinary concerns, and accumulated benefits such as vacations and long service leave should be supplied.
Any important contracts required for the running of the business, including copies of the premises lease and any plant and equipment leases, should be given and evaluated. Check the clauses for the term, assignment, change of control, and termination in particular.
If any of the selling assets are financed, the financier’s approval is required.
If the company is a franchise, the seller must give a franchise disclosure statement.
Keeping track of the transaction
After you have completed your due diligence, you must get the transaction formalised with a legally binding contract. There are several considerations to think about.
You must decide on the transaction structure, and it is critical that you get counsel on the legal, financial, and tax implications of the form you choose.
The following are examples of items to consider:
- Whether you are purchasing the business’s assets or shares in the corporation that owns the assets.
- The amount to be paid and when it is due.
- Who will be the buyer: an individual, a corporation, a trust, or a partnership?
When purchasing a business, deciding whether to purchase the assets or the firm is crucial. There is no easy or correct or incorrect response to this issue because it is typically dependent on the business being acquired as well as the unique circumstances of both the buyer and the seller.
Consider the following while making a decision:
- The degree to which you seek flexibility and control over what you acquire.
- Do you need all of the company’s assets or all of its employees?
- Do you wish to be held accountable for the company’s prior obligations (known and unknown) relating to workers, suppliers, or customers?
Payment Terms and Conditions
Once the price has been decided upon, you must decide how and when the payment will be paid.
You may wish to hold back a portion of the purchase money for a set amount of time to guarantee that the seller’s information is correct or that profit forecasts are met.
You may not wish to pay the fee all at once and may be able to arrange monthly or annual payments.
You must consider that the firm will most likely continue until the selling date, which means that stock, accounts receivable, and other issues must be finalised at a certain time and in an agreed-upon way.
A contract for the sale of a firm is the primary legal document. The sale contract details the numerous terms agreed upon by the parties, such as:
- the parties’ rights if something goes wrong; the seller’s representations and warranties, which are intended to guarantee that: the seller stays accountable for the information provided to you about the business, and you get what you pay for;
- a non-competition clause that forbids the seller from starting a competitive business after the transaction; and (if a lease or franchise is involved) the landlord’s or franchisor’s approval.
Purchasing a business may be a complicated process. You must ensure that you have done enough research, understood the hazards, and have obtained appropriate business brokering advice.
Get In Touch