by Tony Cordato on October 29, 2009
Tony Cordato is the principal at Cordato Partners, Lawyers (Sydney Australia), a company that provides a wide range of legal advice to business clients, property clients, and travel, tourism and hospitality clients based up an understanding of the workings of these industries.
VC or Bust caught up with Tony for a brief interview:
VC or Bust: Tony Cordato, welcome to VC or Bust. Tell us a little about your background.
AJC: I am a Sydney (Australia) CBD based lawyer, with a passion for business, property and tourism law.
by Glenn Matthews on October 29, 2009
Yesterday, the NY Times printed a great article on Angel Investing and Bootstrapping.
To see the article click here.
The article is a must read for start-up businesses.
The article starts off with some interesting facts:
The rules of the game of angel investing have changed in the post-crisis world. The average deal size shrank by 31 percent in the first half of this year.
…. and continues with some great advice on bootstrapping:
by Glenn Matthews on October 27, 2009
At the age of 26 the board of directors of the company who employed me put me and another guy in charge of opening a branch office for the company. Going into that market we had a few select clients; not enough to make us profitable, but enough to give us a good head start in the market. We went out madly chasing new clients, looking for new work. At that point, we would take on almost any job, regardless of size, personal interest or potential for repeat work. We simply wanted to be in the market.
by Glenn Matthews on October 21, 2009
Company resolutions
A resolution is the formal means by which decisions are made by a meeting of company members. There are two types of resolutions: ordinary and special. The Corporations Act 2001 (the Corporations Act) requires many decisions that affect a company to be made by resolution, some of which must be by special resolution. In addition, the constitution of a company may also require that other decisions be made by either an ordinary resolution or a special resolution.
General requirements for passing resolutions
The general requirements under the Corporations Act for the passing of any resolution are:
by Glenn Matthews on October 20, 2009
Earlier this year, the US government introduced a tax credit of up to $8,000, available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. In the news today are reports of an extension to the policy through to June 30, 2010.
While the subject remains current in the news, I’d like to draw a comparison between the US first time home buyer scheme and Australia’s first home owners grant.
by Glenn Matthews on October 19, 2009
MySchoolAct, a company of which I am a shareholder and the Chair, has today announced that its Australian competition will be extended.
“From 10am Tuesday October 20, 2009, MySchoolAct is extending the entry and voting period of this years’ competition by four weeks due to overwhelming feedback from high schools right around Australia.”
Entries to MySchoolAct and voting will NOW close on Friday 27 November at 11:59pm.
The think tank of MySchoolAct thought long and hard about extending the Australian competition. There were concerns that moving the target, thus changing the rules may attract negative press (that may still be the case), however for the fairness of those acts that have been caught up in end of year exams, extending the competition felt right.
by Glenn Matthews on October 19, 2009
Today, The Sydney Morning Herald reported that Jim’s Group is facing a revolt by Franchisees.
For those who reside in Sydney, you would be all too familiar with Jim’s mowing. “Jim Penman, the founder of Jim’s Group – which spans 28 different franchises including mowing, plumbing and electrical with 2700 franchisees in Australia alone – faces being forced out of the company, and a class action, after a referendum held at the weekend”. (Source: Chalpat Sonti, Sydney Morning Herald, 20 October 2009)
