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Category Archives for Management

What Is the Best Approach to Talking About Your Company?

  • July 13, 2022

What Is the Best Approach to Talking About Your Company?

One of the biggest struggles when initially getting your startup off the ground is getting more people to notice you. When trying to find ways to gain more recognition for your small business, one of the best things you can do is learn how to effectively talk about your new company. There are certain things that consumers and other entrepreneurs do and don’t want to hear about. If you haven’t found the best approach to talking about your business just yet, we’re here to help.

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Tips for Improving Your Dental Team’s Onboarding Process

  • July 13, 2022

Tips for Improving Your Dental Team’s Onboarding Process

Onboarding processes involve a lot of hoops. From clinic policies and job overviews to compliance training, onboarding covers a lot of information. On top of providing lots of educational and informational sessions, onboarding is also the time to make your new hires feel welcome so that they can assimilate into the clinic’s work culture. To fully prepare your new dental team for all aspects of their new job, here are some tips for improving your dental clinic’s onboarding process.

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Commercial Leases: What Are Your Rights and Obligations?

  • May 30, 2022

Understanding your rights and responsibilities when it comes to a business lease is vital to ensure that the arrangement goes off without a hitch or a dispute arising. This is important whether you’re the owner of the property leasing it to a business or you’re the business owner who is leasing the property.

Each part in a business lease has obligations and responsibilities, as well as rights when they enter into these kinds of arrangements.

If you’re about to enter into a business lease arrangement, keep reading to make sure that you fully understand what you can expect.

First, what exactly is a business lease?

Business lease defined

Also known as a commercial lease, a business lease is a contract agreement where the owner of a property suitable for commercial purposes is leasing it to a tenant who intends to use the property to fulfill their business.

The aim of the business lease is to outline the responsibilities of the business leasing the property (the tenant) as well as provide them with information about what they can expect from the landlord (the person leasing the property to them). The lease should be easy to understand as the intention is to make sure everyone is on the same page when it comes to their rights and responsibilities.

The details included in the lease document will usually be the rent and fees required each month or payment period, how long the lease is, and any unique details about that property.

When it comes to leasing properties, both the tenants and landlords’ rights are protected by the Property Law Act, and retail businesses are also protect by the Retail Shop Leases Act too.

Below, we’ve outlined some of the key rights and responsibilities of the commercial tenants and landlords.

Your Obligations and Responsibilities in a Business Lease Arrangement

Commercial landlords

If you’re a commercial property owner or landlord involved in a business lease, there are a variety of requirements you must fulfill, these include:

  1.       Disclosure of information – prior to entering a new lease or renewing a lease agreement, the landlord must provide a disclosure statement that pertains to the property. This statement will include the essential lease information, including payments and lease terms, but also information about fit out requirements and restrictions and various other clauses.
  2.       Having a sinking fund – to ensure any maintenance and repairs are able to be performed when required, it’s important that the landlord has a sinking fund for the property. The sinking fund is required when monthly maintenance fees are paid by the lessee. If a commercial landlord has multiple properties with these maintenance fees, they do not need to have separate sinking funds accounts for each property, rather there can be one account.
  3.       Must pay compensation when required – if the property owner impacts the tenants ability to service their customers and perform any aspects of their business, they may be required to compensate the tenant for the disruption. There are many different ways a business’s operations can be disrupted including maintenance that requires the business to be closed, blocking of the business from a street level, and neglecting repairs and maintenance of the property.

Commercial tenants

If you’re the tenant of a commercial property, you have responsibilities that must be upheld. These should be outlined in your lease agreement and will likely include the following:

  1.       Your payment obligations – your lease agreement will stipulate arguably the most important piece of information, which is the fees and rent you’re required to pay for the property you are leasing. You may need to pay maintenance fees on top of your rental requirements, which will usually be put aside by the landlord and used for repairs and maintenance to keep the property in good condition. While you’ll need to pay rent on a weekly, fortnightly, monthly or annual basis, there may be scenarios where you won’t be required to pay rent. This is usually when damage has occurred to the property that has not been the fault of the tenant. Commonly, this will be damage caused by natural disasters.
  2.       How you are expected to care for the property – business lease arrangements tends to have more flexibility and freedom in what you can do to a property than residential leases, however, often there will be requirements where you may need to seek a landlord’s permission before going ahead and making changes to the property. You’ll also be expected to keep the premises clean and well maintained, with any major problems that require fixing to be seen to as soon as possible.
  3.       Insurance requirements – it is common for a commercial lease to also require the tenant to acquire insurance for their lease duration, the type or level of insurance required may differ based on the type of business you have, but it is important to understand that this is likely to be a requirement.

Understand your lease agreement with some legal help

Whether you’re new to business lease arrangements or you just want to make sure your rights are protected, you can always work with a civil litigation lawyer to ensure you’re in the best position possible. A lawyer can help you understand your rights and obligations, whether you’re a business owner entering into a lease or a commercial property owner reviewing your current agreement.

Make sure your rights are protected in your lease agreement today. 

 

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Elevate Your Business With These Effective Strategies

  • May 18, 2022

Are you looking for ways to elevate your business? If so, you're in luck! The following blog will discuss various effective strategies that you can use to take your business to the next level. It will talk about things like branding, marketing, social media, and outsourcing. So whether you're just starting out or you've been in business for years, there's something in this blog post for everyone!

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Essential Tools Every Entrepreneur Should Have Right Now

  • April 28, 2022

Essential Tools Every Entrepreneur Should Have Right Now

If you’ve chosen the long road to entrepreneurship, you want to have every tool you can get your hands on. These are the essential tools every entrepreneur should have right now. Equip yourself for success.

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How to Encourage Your Employees to Work as a Team

  • April 19, 2022

Once your small business develops and you start hiring employees, you will notice new layers of complexity that show up throughout the task of running your business. Your employees can make or break your business's success. One of the best ways to get the most out of your employees is to help them to work as a team.

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How To Attract More Customers As A Small Business

  • April 19, 2022

 

Businesses generate money by profitably selling goods and services to customers. It’s really that simple. The problem arises when clients are unwilling to purchase from a company. Without customers, there is no business.

Many business owners and managers are unaware that when a company fails, it is typically not due to a lack of demand for the product or service. It’s frequently because people are unaware that the company exists. This is where your ability to attract clients comes into play. Here are inventive strategies for small business owners to attract more clients.

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The Benefits Of Implementing Technology And Software Into Your Business

  • March 22, 2022

Technology and software can be highly beneficial to businesses when implemented correctly. The following blog will discuss the benefits of technology and software and how they can help your business grow. It will also provide tips on how to choose the right technology and software for your company. So, if you are looking to improve your business performance, read on!

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Important Preparations to Make As You Grow Your Business

  • March 2, 2022

Setting up a business is a long-term commitment that you need to continually assess as each month goes by. If you have big plans for your company, then it is highly likely that you will want to grow your business over time. If you’re looking to grow your business from a start-up to a large corporation, now is the ideal time to take a step back and consider all of the important preparations you need to expand successfully. Whether you require legal representation or you want to upgrade your current office space, there are a number of different elements to consider. Here are a handful of ideas to get you started as you grow your business.

Legal Cover

Obtaining legal representation as your business grows is a very sensible idea. You never know what kind of challenges you will face as you begin your expansion, and you may need advice along the way. Whether you’re trying to settle a current dispute, or you’re looking for a legal consultation from an expert, Accuro Maxwell will be able to provide you with the relevant advice you require. Taking the time to seek out a legal professional whom you can rely on now will save you a lot of time in the long run too.

Adequate Market Research

As you grow your business there are going to be inevitable shifts in your target market and your competitors. Carrying out high quality primary market research is the best way to find out everything you need to know about your industry. This type of research can provide you with important information about your target demographic so that you always make choices that are aligned with their requirements and desires.

Storage and Office Space

When your business transforms into a larger company, you may suddenly find yourself short of space, especially if you’re running an e-commerce business with stock. It may be worth looking for an office space or storage solution so that your business can grow with ease without any delays in your production. Getting organised and ahead of everything you need will pay dividends during your expansion.

Hiring Additional Help

The idea of hiring your first employee is certainly a daunting one, especially when you still consider yourself a start-up. However, many entrepreneurs make the mistake of hiring too late when they become too busy. Hiring some additional help now will prevent you from becoming overworked in your business; it will also provide you with the much needed time you require to focus on other areas of your company.

With all of these ideas in mind, you will be on track to grow your business in a smooth and sensible manner. Remember, business growth is not a race; you need to be prepared with every decision you make. As soon as you start making these preparations you will feel motivated for the months and years ahead. As an entrepreneur, your work will truly never be done, especially when it comes to making your company a success. Growing your business will take time and energy, but everything is possible as long as you take the correct steps towards your goals.

 

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The 5 Vital Components of Preparing Your Business for a Natural Disaster

  • February 23, 2022

When a business is impacted by a natural disaster, it can be incredibly difficult to recover, and in some cases, can be a disaster that forces them out of business. This is why it's important for companies to build a natural disaster plan so they can focus on business continuity. With this in mind, what are some of the things to consider? 

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