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We have Nic Coffill, Commercial Transactional Lawyer from Aubrey Brown Lawyers, on this all new episode of Get to the Contest Small Business Podcast. We talked extensively about PPSR, asset protection and matters that are very important to small business owners.

Here are some key takeaways from that interview:

1. Be proactive in business

Be curious of anything and everything in relation to business. Stuff like PPSR (Personal Properties Securities Register) may be a very important tool for your kind of business. Get advice upfront when a transaction is taking place, or do the searches when a transaction is taking place before it's too late.

2. No one ever plans for failure, but it doesn’t hurt to protect yourself

If you are protecting significant chunks of money and assets, then the nominal cost of the
lodgments on the PPSR and any advice around that is going to be absolutely a cheap insurance policy. No one ever plans for failure but that doesn't mean that you shouldn't at least take the appropriate safety steps to protect yourself.

3. Think laterally.

When a problem comes their way, most people can just charge out and try to solve a problem the way it’s always been done. Thinking laterally is taking another perspective in dealing with problems and different tasks. Take time to see everything in a wider perspective and allow new ideas in by speaking to a lawyer or an accountant.

To know more about PPSR and how to protect your assets, feel free to email me at
wjackson@foxgroup.com.au