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Overblown Expenses Debt, Moving Forward - Coggle Diagram
Overblown Expenses Debt
Still paying rent and VOs
Overcharge for Telephone charges.
Overseas fees and other office
Overcharge for Accounting admin person
Agreed third cover of shared expenses changed to covering half after other unit ceased trading
Moving Forward
Buy-out other director
Business Value?
Director Fees owed or reason not recieving?
Neater in terms of client list & branding
Turnover is $500 - $600k
Profit is generally $0....
Could be used as a tax write-off
Sell client list/hosting to another agency?
Continue to run it without inflated overheads and actually turn a profit
Sell-out of business
Just leave
Owed approximately $7k in holiday and long service leave
Some clients would come with and we have a number of pending projects that could fund the move
Key Staff member has confirmed they would also leave if this route was taken
50/50 split of business?