When would you advise an owner or manager of more than one trading business to trade...

When would you advise an owner or manager of more than one trading business to trade under a single ABN umbrella? 80-100 words

(must be related in Australia)

Expert Solution

If owner or manager of more than one trading business then I would recommend to trade under a single ABN umbrella when:

1.) When an owner operates two trading business through the single company because operating two trading business through one company would be a risk. It is a best practice to have to two separate company to run more than one trading business.

For Example if the company running a personal trading business and finance business and if someone sues the finance company or creditors take action against the finance company (use to provide loans to the creditors) regarding the unfair collections practices used to collect the dues from the creditors then if court announced in the favor of the creditors to clear all outstanding amounts of the creditors due to unfair practices used to collect the amounts, so it would be risky situation for the finance company and the trading company as well because both are liked with the same Profit & Loss as a same company so trading company may suffer loss.

jeff jeffy answered 2 months ago

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