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Advice from Outside the Square

Monthly Archives: October 2019

10 Tips to Avoid Insolvency

It is a tough world out there for small business at the moment. Interest rates are bottoming out yet not much consumer spending is being seen. Here in Perth, iconic restaurants and pubs are closing down, strip shops are empty, fashion labels are rationalising their stores and outlets. While we cannot succumb to all this bad news, and we must look forward to our continued success in business, nevertheless you cannot simply ignore what's going on. No matter how many times you visualise success, if you don't do something tangible, those problems are going to come and get you. (more…)...
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Make Your Indigenous Corporation Board “Smarter”

If all the Directors on your Board and all the other leaders in your Indigenous corporation are of a similar profile, it's time to expand your ideas about diversity. Diversity is not just about balancing the genders and the ages because if all your Directors share the same background - hard not to in an Indigenous context - you need more diversity for better all-round decision-making processes. Indigenous corporations have evolved from "associations" incorporated under the old Aboriginal Councils and Associations Act 1976. They now have their own Corporations Act (the Corporations (Aboriginal and Torres Strait Islander) Act 2006) which was intentionally drafted to mirror the mainstream Corporations Act 2001 along with the duties, responsibilities and penalties attached to mainstream corporate governance. Indigenous corporations have had to deal with more complex and non-local issues, particularly as many hold important assets as Native Title PBC's or as commercial arms of Native Title determinations and other royalty agreements. As a result, the perspectives that Directors need in decision-making have also evolved. While the need to remain connected to cultural imperatives and understand the stakeholders is still a key factor in all Boards' decisions, increasingly, Indigenous Boards need to understand the Law, Agreement-making, commercial opportunity, financial...
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