Resounding results and reducing risk

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A highlight for me has been hearing feedback from the previous years’ AOY winners, telling of their experience at Outward Bound, the amount they have learned since then, and about their exciting plans for the future.
It’s also very pleasing to see through some recent research we’ve done that the vast majority of AOY entrants over the years are still involved in the industry.
Judges in both HOY and AOY competitions have commented on the raised standard from the previous year.

Healthy sign
To me, a consistent climb in the standard of entries is a healthy sign. Both competitions were developed to set and raise the standard, as well as providing unique opportunities to participants.

Finalists have been found, and are no doubt looking forward to the results of the national competitions, to be announced at gala evenings in October for AOY and November for HOY. Good luck to you all.

Time to take stock
Now is a great time to be checking everything in your personal and business structure is in order.
In my opinion, the building industry has become complex and litigious. We all need to be careful to ensure we achieve compliance and mitigate unnecessary risks.

The fact is we can be caught up in litigation whether or not we are liable. The “scatter gun” approach (where many parties get named in legal claims) is common these days, particularly in leaky building claims.

The onus can fall on us to prove no liability or innocence. In essence, we can be guilty until proven innocent, and it can be expensive proving that position.
If you have not already, now is the time to take stock of your personal and business affairs.
You need appropriate professional advice to determine whether or not you and your business are organised and structured safely.

There are a number of fundamental questions to consider:
• Are your wills up to date?
• Is your business shareholding and funding structured in a manner that would withstand a personal relationship change?
• Who should own your private property and other assets?
• Who should own shares in your business?
• Should you be a director of your business?
• Is your company constitution current?
• Is the building contract you use current and appropriate for your type of work and your particular customers?
• Do you have appropriate and current staff employment contracts?

Unfortunately, in many cases, we learn of our weaknesses only when we are confronted with a major issue. This can be avoided through good planning and by obtaining good advice.