Welcome to our autumn newsletter!

No more noisy coffee shops! Meeting rooms available now!
Data Backup… Let us take the worry away from you
New feature on our website… Community Notice Board
Capital Gains Tax - implications for home-based businesses
Domains Australia Pty Ltd - Consumer Alert
Legal Tip - Don't seal the deal too early

Networking Functions and Workshops

International Women's Day Charity Lunch 8th March
Canada Bay networking events take off!
Calling all Home Based Business - create your Marketing Plan!
Getting started - New Start Business Series of workshops
Moving on up - Business workshops for established businesses
Going global - Import/Export Business Workshop

No more noisy coffee shops! Meeting rooms available now!

The furniture is in… the coffee is brewing. Bookings are now coming in for all the serviced office facilities. We are getting a steady stream of interest in the use of the rooms for an hour, half a day or a full day.

The availability of a meeting room for these time periods has really addressed the needs of business. John Martin from Martins Consultancy sums it up: "No more meeting in coffee shops. The Clearly Business facilities allow me to have my clients greeted and shown to the interview room. It allows me to look that much more professional."

Our first permanent tenant will be moving in over the next fortnight, so it is all systems go! Please call us on 9212 0555 if you'd like to find out more.

David Baumgarten, CEO

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Data Backup… Let us take the worry away from you

The trial of our data backup program has commenced with some very positive feedback from the pilot group.

"The knowledge that while I am asleep my data is backed up automatically is one less thing I have to worry about", says Carol Daunt from E-Learning.

The number of businesses we come across who have lost all their data is sadly on the increase. I suppose the question all small business operators need to ask is "Could my business operate if I had a computer crash and all my financial information, databases and records disappeared?"

I have seen it happen and it can happen to anyone in business. The other concern that I have with backup is that many business have never tested their backup. How reliable is it?

Our data backup service will be available shortly: to register your interest enter your email address on the right hand side of our home page.

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New feature on our website… Community Notice Board

Do you have a networking or training event that you would like to promote to small business?

Well, for a six month period we are offering a FREE LISTING on our community notice board (see link on left-hand menu). We already have several notices for upcoming events in our local council areas, so make sure you take a look.

Please send all notices to webmaster@easternsuburbsbec.com.au


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Capital Gains Tax - implications for home-based businesses

Where you first use your home to produce income after 20 August 1996

If you start using your home to produce income (in a way that would satisfy the interest deductibility test) for the first time after 20 August 1996, there is a special rule for working out your capital gain or loss.

In this case, you are taken to have acquired your home at its market value at the time it is first used to produce income if all of the following apply:

• you acquired the home on or after 20 September 1985
• you first used it to produce income after 20 August 1996
• you would get only a part exemption because the home was used to produce assessable income during the period you owned it, and
• you would have been entitled to a full exemption if you had sold the home immediately before you first used it to produce income.

The effect of this rule applying is that the period before the home is first used by you to produce income is not taken into account in working out the amount of any capital gain or loss. The extent of the exemption for the period after the home was first used to produce income depends on the proportion of the home used to produce income.

If you think that the above applies to you please contact your accountant for clarification of this issue.

More details can be obtained at the following sections on the ATO website www.ato.gov.au

Tax and the home-based business

Domains Australia Pty Ltd - Consumer Alert Warning

If you have a .au domain name you may have received emails from a company called Domains Australia who have been the subject of several complaints and have had legal action taken against them.

auDA (.au Domain Administration Ltd), the Australian company that operates .au, has become aware that a company called Domains Australia Pty Ltd is sending letters and/or faxes to some domain name registrants offering to arrange registration of a .com domain name for $225.

The letter is headed 'DOMAIN NAME AVAILABLE'. auDA has received numerous complaints which indicate that some of the names being offered are either:

1. registered already to the recipient of the letter and not due to expire in the near future; or
2. registered to a different entity and is not available for registration.

auDA is concerned that the letters may:

a) mislead people into believing that their .com domain name has expired when it has not; or
b) mislead people into believing that a .com name is available for registration when it is not; and
c) in either case induce people to pay money to Domains Australia for a service that the company is unable to deliver.

Domains Australia is a company controlled by Chesley Rafferty, who is also a Director of Domain Names Australia Pty Ltd.

auDA has successfully taken legal action against Mr Rafferty and Domain Names Australia under the Trade Practices Act. For more information see www.auda.org.au/news/dna

Legal Tip - Don't seal the deal too early

THE DANGERS OF SHORT FORM AGREEMENTS

When negotiating a deal, don't fall into the trap of trying to 'seal it' before the detail is agreed, by signing a short form contract - sometimes called 'Heads of Agreement'.

You may be at risk of putting an unenforceable agreement on the table. Why is this so? Because contract law sets the rules in respect of what constitutes a legally binding agreement.

For example, before a contract can be unquestionably binding on the parties it must show:

a. that the parties intend to be legally bound by the contract; and
b. that none of the key terms of the contract are vague or uncertain.

The implications of signing a heads of agreement can be disastrous if there is uncertainty about whether or not the parties are immediately bound to the arrangement.

By all means do whatever is necessary to have a full and effective agreement prepared and signed as quickly as possible. But cutting corners with a short form document could end in disaster.

Peter Townsend
www.townsendslaw.com.au

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NETWORKING FUNCTIONS AND WORKSHOPS

International Women's Day Charity Lunch 8th March

Our Strategic Alliance partners The Australian Businesswomen's Network (ABN) is putting together two charity events for International Women's Day, in Sydney and in Melbourne.

Their vision is to acknowledge and celebrate the achievements of women in business all over the world.

The event will feature high-profile women entrepreneurs sharing their experiences plus a charity auction to benefit Opportunity International.

Theme: "CELEBRATING WOMEN ENTREPRENEURS AROUND THE WORLD"

When: Tuesday, 8th March, 11:30am - 2:30pm
Where: Sydney, Shangri-La Hotel (formerly ANA)
Who: approx 200 women in business

The ABN are partnering with the charity Opportunity International (www.opportunity.org.au), who provide micro-loans (average of $70AUD) to mainly women in developing nations to start or grow their businesses.

Our Member Amy Lyden from Bow Wow Meow was fortunate to be part a group of 14 women who went to West Timor in November to see their programs in action.

An auction will form part of the event, with all proceeds going to Opportunity International are also now actively working with Indonesians affected by the Tsunami. The United Nations has declared 2005 to be "International Year of Micro-Credit" and this lunch will be part of this.

If you would like to support this initiative you can do so in three ways:

(1) Sponsorship: $1250 + GST.
Sponsors will enjoy a number of promotional opportunities including:

- Branding and exposure through marketing and PR
- Exposure through the ABN's database of 10,000 businesswomen across Australia
- Acknowledgement at the event and opportunity to address women attendees
- Exposure through ABN newsletters and website (including links to your site)

Mercedes Benz, Roses Only and Karibu are confirmed sponsors so far.

(2) Prizes - are needed for our charity auction over the value of $150 each.

(3) Tickets for the event - $80 ABN Members / $95 non-members / $850 tables of 10.

The ABN is committed to supporting women in business. They offer education, inspiration and networking opportunities to help them achieve their goals. For more information please visit www.inspiringwomen.com.au

Canada Bay networking events take off!

The Canada Bay Council is part of our new Sydney Business Advisory Service area. We have been welcomed with open arms by the small business community.

Great work is being done by Stephanie Kelly who is the Council's Project Officer - Economic Development. Over the next three months the following events are scheduled:

March
1st - Bayside Business Breakfast
8th - International Women's Day Business Breakfast -Women's Business: the Art of Effective Networking
23rd - Home Based Business Network
29th - Bayside Business Exchange

April
26th - Health & Wellbeing Network
27th - Home Based Business Network

May
24th - Bayside Business Exchange: Succession Planning
25th - Home Based Business Network

See also The Bayside Business News

For more information and to book for any of these events contact
Stephanie Kelly,  Project Officer - Economic Development
Tel: 9911 6521 Fax: 99116550
www.canadabay.nsw.gov.au

Calling all Home Based Business - create your Marketing Plan!

Close on the heels of the highly successful Business Planning Action Workshops we have the Marketing Action Program commencing on the 17th March 2005.

The program is on every Thursday morning over a six week period. The cost is subsidised by the NSW Department of State & Regional Development .

If you are looking for a marketing plan or just the opportunity to focus on marketing this program is a must….

For further details simply click on the Training Calendar on the left-hand menu.


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Getting started - New Start Business Series of workshops

Are you considering starting a small business?

If so, we offer a range of workshops covering all aspects of starting a business, including business planning and the financial aspects of setting up a business.

Workshops are currently offered in the City, however they will soon be available in Bankstown, Burwood, Bondi Junction and Canada Bay.

To see the schedule of upcoming workshops simply click on the Sydney BAS Workshop Calendar on the left hand menu.


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Moving on up - Business workshops for established businesses

For those already in business we have a more comprehensive series of workshops and training programs that that can be found on our Training Calendar (simply click on Training Calendar on the left-hand menu.)

These workshops have been put together to take your business to the next level, and cover a range of business topics from marketing to taxation.

For further details simply click on the Training Calendar on the left-hand menu.


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Going global - Import/Export Business Workshop

One of the frequent requests we get for information is about importing & exporting. To address this need we are offering our popular workshop across metropolitan Sydney .

This one day seminar will provide all the information you need about procedures, practices and paperwork. We cover a range of topics including: