In many ways, owning a business in Australia is no different to anywhere else in the world. You're providing a product or a service to customers, you have to deal with suppliers, tax and other governance, and you're probably trying to find ways to improve your returns.
That said, there are some aspects of company ownership in Australia that are somewhat unique, one of which is related to our hot, dry climate.
Every summer, many of our homes and businesses come under the threat of bushfires, and it's something you'll have to consider when you are looking at businesses for sale.
Preparing your business for bushfire season
If your company premises lay in the path of a fast-moving fire, there may not be too much you can do to completely protect it. The most pressing issue is getting yourself and your staff to safety, and everything else comes a distant second.
However, there is plenty that you can do to prepare your business, and minimise the impact a fire might have. Most importantly, one of the first steps you should take as a new business owner is to secure adequate insurance. According to Lifewise, Australia is one of the most underinsured countries in the world, so avoid being caught out by speaking to an expert who can tailor a policy to your needs
Another way to minimise the potential damage from a bushfire is to have a secure backup system in place for your data. The retention of digital information is an increasingly important part of business ownership, so storing that data in more than one location is an extra safeguard, allowing you to get back to work sooner in the event of damage from some form of natural disaster.