Net Profit is King! Not Cashflow... Healthy net profit margin is often one of the biggest challenges
Women in Painting Times are changing, and for the good.
Where You Get Your Sense of
Self-Worth
These might be challenging — that’s OK!
Self-Employed Tradies So what are the basics that you really need as a startup trade business?
www.aussiepaintersnetwork.com.au
From the
Editor
Hey Everyone, Welcome to the 116th edition of the Aussie Painting Contractor Magazine. As usual its been a busy month for everyone, I have travelled to Hervey Bay, caught up with painters and trained apprentices while in town for 2 days. From all reports businesses are short on staff and have work coming out of their ears. Being able to get to jobs and start them, are getting further into the future. Due to these shortages, we have run a couple of Try a Trade Days and have found a few new people that we have bought into the industry that have started their apprenticeships. This month we are also going to several school career expos to see if we can help find the next apprentice for your business. We have also been running skills days where employers send their new apprentices in for the day, we work on the skills that they need every day to do their job. We have had some fabulous results, employers contacting us the next day and letting us know about the apprentice increasing their workload and also have a better idea of what they need to do. If you are looking for an apprentice or would like to send them in for training, contact our office for assistance.
CONTRIBUTORS
• Helen Kay • Jim Baker • Kayleen Manwaring • Kimberlee Weatherall • Leo Babauta • Monroe Porter • Robert Bauman • Sandra Price • Tony Wood Zofia Bednarz
EDITOR Nigel Gorman
'Til next month, Happy Painting!!
GRAPHIC DESIGNER J. Anne Delgado
Nigel Gorman
nigel@aussiepaintersnetwork.com.au
07 3555 8010
Advertise with us... 1800 355 344 07 3555 8010 info@aussiepaintersnetwork.com.au www.aussiepaintingcontractor.com
Contents 06
Use technology wisely Don’t let it be your ball and chain!
22
4 reasons our gas and electricity prices are suddenly sky-high
08
Net Profit is King! Not Cashflow
25
Protect your Business Register a Trademark
12
17 ways to get REPEAT BUSINESS
28
Where You Get Your Sense of Self-Worth
31
Breaking Unhealthy Business Addictions
37
Insurance firms can skim your online data to price your insurance
16
Women in Painting
19
BEING BALANCED in Chaos...
40 46 47
— and there’s little in the law to stop this
Insurance Guide for Self-Employed Tradies Industry Idiots Important Contacts
Opinions and viewpoints expressed in the Aussie Painting Contractor Magazine do not necessarily represent those of the editor, staff or publisher or any Aussie Painters Network’s staff or related parties. The publisher, Aussie Painters Network and Aussie Painting Contractor Magazine personnel are not liable for any mistake, misprint or omission. Information contained in the Aussie Painting Contractor Magazine is intended to inform and illustrate and should not be taken as financial, legal or accounting advice. You should seek professional advice before making business related decisions. We are not liable for any losses you July incur directly or indirectly as a result of reading Aussie Painting Contractor Magazine. Reproduction of any material or contents of the magazine without written permission from the publisher is strictly prohibited.
Use technology wisely
Don’t let it be your ball and chain! What would we do without current technologies? They make everything so much easier, communication so simple and save us so much time… or do they? Information and communication technologies are so very efficient and prevalent in our work and personal lives now that it’s almost out of our control! Whilst making things simpler, they may also have increased our workload to a point where finding a balance with our personal, off-line, lives is nearly impossible. Is your email in box so full of stuff you plan on getting to later, that you never get through it? Do you get distracted from the important stuff by texts, emails, facebook, or are you twittering your life away? The fact is there are just so many technological mediums out there that, if used wisely, can undoubtedly help you in your work, and free up your time for the things you love, but if not employed professionally and kept in check, may well complicate life and waste precious spare time.
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A lot of us couldn’t imagine life without our smart phones, wireless internet and laptops or I pads. It’s undeniable that these can be powerful professional tools and, indeed, if you’re not using some of them, you probably should be! But the down side is that they are all loaded up with gizmos, games and functions that have no place in your work day, or when you could otherwise be spending time with family! To turn this around, find out the bits and pieces in your favourite gadget which will help you save time and investigate those thoroughly. There are fantastic ‘apps’ and programs available that can help you plan, budget, communicate, schedule, navigate etc., so search some app reviews and take advantage of them. (Apps are generally dirt cheap too, so you can try a few out without losing $$)
As a small, or large business, or even an independent contractor, an online presence is so important now, because that is where people are seeking their services; and utilising social media like facebook and Linkedin is also an astute way to be seen. But it can get complicated and overwhelming if you don’t approach it carefully, and they too can chew through your time. Consider using social media sites as part of your advertising plan, but look into getting guidance on how to build up your “likers” and what ways to use the medium to your best advantage. There are plenty of professional services that do this now. And keep your professional profile separate to your personal one. So, its not the technology, but the way in which we use it which can become the problem. Here are a few tips to ensuring that you keep your use of technology effective on a professional level: • Turn off, or silence the devices when you are with people -- give people a higher priority than technology – Especially when you are quoting! • Don’t be tempted to multi task with your phone or lap top when you’re on a phone call, or worse, face to face with someone. Even if the other person will never know you’re checking your email whilst on the phone; it’s a respect issue, and you may miss important details.
•
•
Try to avoid wearing a Bluetooth earpiece around. Apart from looking a bit self-important, the nonverbal message you’re sending to everyone around you is, “You can talk to me but at any moment someone more important than you may call me and I’ll need to answer it.” Don’t email, sms etc., anything that should really be spoken in person. It’s difficult to convey tone and emotion in text and if you have something with any detail that need to be explained it can really create problems.
Technology is great for business, and can make our personal lives simpler and save precious time, if it is used properly. The key is to use technology to serve you, not the other way around. This requires you to make deliberate choices of when to engage with technology so that it aids in your accomplishment of what is most important in your business and your life. Just be careful to be the master not the slave!
---------------------------------------------------------Caroline Miall
caroline@aussiepaintersnetwork.com.au 2/16 Perrin Place, Salisbury, QLD 4107
2022 July Issue | 7
Net Profit is King! Not Cashflow... Economic researchers claim that 80% of businesses go out of business in the first 5 years and 50% in the first year. These percentages are staggeringly high. Most business owners think that cashflow is king, but they forget about net margins being equally important. When you’re running a business your aim is to be successful in your industry and make a profit. If you’re employing staff you want to be able to pay their wages and cover all your overheads and business expenses, including your own salary. You’ll need to make enough sales to cover all of that and more, if you want to put something aside for your nest egg, or have capital to re-invest into your business to help it grow. That’s why I say, “Net Profit is King!” Over the years, we’ve seen a lot of different kinds of small businesses fail not just due to lack of cash flow, but also because their net profit margins were too low. So here’s the thing: in our experience, 90% of all businesses are operating on less than 10% of net profit margin! What does this mean in reality? For example, if you made a $1,000 sale and your business’s net profit margin was 10%, what that means is every cost of your business has to come out of the sale and that
8 | Aussie Painting Contractor
means on average, out of the $1,000 received in the bank account, $900 of it goes out to pay all the overheads, costs of sale etc. so there is only 10% of the income received still in the bank account. Knowing if you’ve got a healthy net profit margin is often one of the biggest challenges, and so many businesses are not failing due to lack of sales or customers… they fail because their net profit margin is too low. The sad part is that often due to inadequate financial administration, ie having a budget and cash flow forecast and knowing your 5 critical numbers, most business owners don’t even know about their impending demise until it is too late. If you’re curious to find out how high your net profit margin should be for the size of your business, you can look at some benchmark figures for your industry that are readily available. Visit the ATO website Compare your business now and have a look at how your own business measures up. To give you an idea, for a business with $700,000 of total income, the generally accepted view is that your net margin should be at 15% minimum, although this figure could vary depending on the industry.
SAFETY ON SITE
IT'S ALL ABOUT SURVIVAL As processes become faster, deadlines get tighter, and customers demand greater efficiency, the worksite has become a hectic hive of activity. But these increased expectations can make it all too easy to cut corners, and the safety of Aussie job sites is now more important than ever before.
L-R: SURVIVAL's Director of Marketing & IT, Jordan Green, and CEO Mike Tyrrell
WORKPLACE SAFETY: WHY NOW? Organisations have become more accountable to their customers, shareholders, and employees. Increased safety improves the bottom line, and the links between a safe working environment and enhanced productivity are proven. Safer workplaces result in better processes, because it sets the standard for greater efficiency and increased ingenuity all ‘round. Above all, it saves lives. Workplace safety increases productivity, makes organisations accountable, and protects the entire team.
SafeWork Australia recorded 194 worker fatalities in 2020 alone, with machinery operators and drivers representing the highest number of fatalities, and labourers, managers, and technicians and trades workers close behind. That’s why SURVIVAL - a 33-year, Aussie family business is dedicated to ensuring every worksite has the right first aid equipment on hand. “It’s clear that worksites need to ensure they’re never caught short, because when you’re in the trades industry, the chances of accident or injury are very real,” says SURVIVAL’s CEO, Mike Tyrrell. “And despite the latest advances in technology and an increased awareness of the associated risks, these sobering stats from
SafeWork Australia show us that even more needs to be done. “We know that providing immediate, effective first aid to people injured on the job can reduce the severity of their injury or illness. “And even more than that – it can save your life, or that of a mate,” adds Mike. SURVIVAL’s Director of Marketing & IT, Jordan Green, says the company is constantly looking at ways to make first aid more accessible for people in trades and other 'hands-on' professions. “In addition to our line of first aid products, we’ve just released the latest update to our free iFirstAid app, which features step-by-step instructions and video resources to guide people, including trade professionals, through common emergencies,” says Jordan. “Our SURVIVALSWAP audit compliance program also ensures worksites remain stocked and compliant – without the headaches or hassle.”
For the best first aid for your workplace, visit survival.net.au
Exclusive discount just for APN readers: get 13% off all SURVIVAL products sitewide!* Visit survival.net.au and use code 'APN13' at checkout. *Offer ends 30 June 2022. Excludes defibrillators.
2022 July Issue | 9
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If you want to be successful in business, then your net profit margin needs to be your number one focus! To help you understand your business financials, here’s a quick summary about the 5 most critical numbers and how they are calculated.
5. Breakeven The breakeven figure identifies the number of sales to be made before all business expenses have been met and profit begins (before tax). It is the spot where your business neither makes a profit nor a loss.
1. Gross Profit in $ / Gross Margin % Your Gross Margin in $ is calculated by deducting the Cost of Goods and Direct Costs ($) from Sales ($).
Believe me, profit and cash flow are not the same thing. You can still go broke whilst making a healthy gross profit, if you don’t have the cash flow you need to meet your commitments. Your net profit margin is therefore one of the most reliable factors for your business success. Go through your financials, get on top of your numbers and firmly take control of your business’ destiny.
2. Markup in % Most people understand that Markup in business is what defines the Gross Profit margin further. Markup is calculated by deducting Cost of Goods from Sales, and then calculating what percentage the resulting figure is in relation to total sales. 3. Net Profit $ / Net Margin % The Net Profit figure in dollars is worked out by deducting the costs and overheads from the Gross Profit. It correlates to the Net Margin figure in percent. Net Margin figures are used in benchmarking business success.
If you need any support with the numbers game, call my office on 3399 8844 and we will give you a FREE Business Financial Health Check. You can also visit our website at www.straighttalkat.com.au and complete your details on our Home page to request a free appointment.
4. Budget A budget will help you better manage your cashflow needs. With a solid budget you could also walk into any bank and talk to them about a business loan, if you needed one.
2022 July Issue | 11
17 ways to get
REPEAT BUSINESS Q. I am finding it tough. Sales are slowing but I can’t figure out exactly why. No-one seems to be unhappy with what we do, and no competitor has entered the market. People seem to be buying less often and in lower numbers. Your existing customers are your most valuable asset. This is because it’s easier and far less expensive to get an existing customer to buy off you again than to find new customers. So here are 17 ways to gain repeat business from existing customers, or to get your customers to think more positively about your business. The golden rule for success in business is to get your customers to believe that they are more important to you than anyone else.
comply with the Privacy Act. (Check out the provisions of the Act at the Privacy Commissioner’s website www.privacy.org.nz where you can download the ‘Guidelines for Business’ file). 1. Send a thank-you letter within two days of the customer buying off you. If at all possible, send a note the next day. It only has to be a handwritten note on a standard card—though a professionally typed letter is better. Other variations include sending a cartoon with your caricature to say thank you, or even a cartoon card (depending on who the customer is and how much they have spent). 2. Send an offer of a product or service that’s related to what they bought, usually after one month. Offer a discount or special deal. If you don’t have any complementary products or services, then find a business that does and offer their products. Then get that business to do something similar with their customers, but this time with your products or services as the offer. 3. If you sell products (such as printers) that use consumables, use your database date-of-sale records to predict when they might be ready to buy these consumables so that you can send them a ‘special offer’. Use the same technique for products that have a definite use-by date (such as timing the letter for when a lease arrangement on equipment is about to expire and newer technology is available).
Because small businesses are very diverse, not all these tactics will be relevant to your particular business. But many will be, so make a commitment NOW to try at least one, if not more, of these tactics. Please also note that most of these ideas involve using your database of customers so make sure that you
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4. Send out a questionnaire once every three to six months to see what your customers now want, and to see if your market has changed. Use the feedback to update your database and refine your product and services mix.
2022 July Issue | 13
®
australia’s most trusted ladder
14 | Aussie Painting Contractor
www.gorillaladders.com.au
5. If you have a small number of highly loyal customers, then continue to acknowledge their custom with simple ideas like sending birthday and Christmas cards to them. 6. Try a telemarketing exercise. Ring up the customer with a brief message about a special or new product they may like to try. If possible make the offer free, or offer some incentive that provides a genuine saving or deal for existing customers only. 7. Send out a regular or email newsletter to your customers (even once every six months). Inform them about what is happening in your industry, community or area. Give tips relating to whatever business you are in. If you run out of ideas, then contact another business to share the newsletter (you can also share costs). Note: an email newsletter costs only a fraction of a conventionally printed and posted newsletter and the Internet offers a huge resource of useful information. 8. Run a customer contest that only existing customers can enter. This rewards them for being your customer -- not the competition’s. 9. In appropriate instances you may be able to ask for referrals. Something along the lines of: ‘If you thought that we did a great job, then we’d really appreciate it if you could send us the names of three people who could also benefit from our product/service’. Or you could simply ask for your name to be passed on to any people the customer may see as needing your help. Sometimes you can also include a special deal for their friends. Be careful here, though: don’t make this deal better than the one the original customer received! 10. If you have a new product or new technology just about to be released, then hold a ‘customeronly’ preview. Supply refreshments. This could even relate to someone else’s technology. For example, if you have just bought a new colour printer, invite your customers to see what it can do. Get them to bring in some printing so you can demonstrate on their work. You can also the supplier of the equipment to share the costs – it’s promotion for the supplier too. 11. Have a sale that is available only to existing customers. Send them an invitation that selects them out as special and points out that the public will be excluded. 12. A variation on the above is to offer existing customers first choice at your sale for a certain period
(such as a few days or a week) before the sale is opened to the public. 13. Try sending a letter or card or email that does not try and sell anything, but just keeps them informed of interesting facts or information for their use. This way, they don’t always associate hearing from you with hard sell. Instead, they come to look forward to receiving helpful information from you. 14. If your customers spend lots of money, and the profit per item is large, then send your customers relevant CDs or videos. For instance, if you sell to other businesses, you could send them CDs or videos on selling or marketing, or motivation. Or even in the case of especially good customers a video on their interests: find out from the survey you sent them what sports they follow, and then send them the corresponding video tape of rugby’s greatest tries, soccer’s best goals, highlights of the netball series or whatever. Stick your business name on the video. 15. Send customers a catalogue of all your products, and offer to direct mail to them anything they need. 16. A variation on this if you have a website is to offer preferred customers a special PIN number or password that allows them to log in to sections of your website (special discounts, sales, etc.) that others can’t access. 17. Come up with a special anniversary offer one year exactly after the customer first bought off you. If the offer is taken up, repeat the idea every year. There must be something for every business in this list. The whole idea is to keep in contact with your existing customers, to build goodwill and positive word of mouth. By making them feel privileged and special you’re preventing the possibility that YOUR customer will be lured away by the competition. They couldn’t possibly after the way you look after them!
Sandra Price
www.tradiebookkeepingsolutions.com.au
2022 July Issue | 15
Women in Painting History can reveal that it’s been a male dominated world since the beginning of time (until recently anyway). Women had no voting rights, they could not apply for bank loans, they had no part in decision making and if they had jobs, it meant long hours with very little pay (which was always much less than a man’s pay). ‘Women in Business’ was rarely heard of prior to the 19th century. If a woman didn’t have a husband and didn’t want to be a burden on society, the only businesses open to them were either Brothels, Taverns or Alehouses. There were only a few women in the late 1800’s and early 1900’s that did manage to become very successful: ‘Coco Chanel’ being one. Early in the 20th century though, feminism began to make a real change in the female working climate, especially during World War II which marked a time when they entered the American workforce in large numbers. From 1940 to 1945, the percentage of working women rose by almost 10% due to male military enlistment which left gaps in the workforce. As years passed, more and more women were becoming independent and building multimillion dollar businesses. They had a voice of their own and didn’t need to rely on ‘men’ anymore. I’ve met many women that run their own painting businesses and have shared their stories in my articles. This is another successful lady that I was fortunate enough to come across and would like to share her story as well. ‘Hi. My name is Carmel Sloane. My business is based in the Southern Highlands/Wollongong area in NSW, and I trade under the name of ‘Carmel Interiors Pty Ltd’. I wasn’t sure what I wanted to do when I left school but knew I wanted to be a ‘hands-on’ type of person. Although an artistic and creative person, I ended up working in the mining and construction industry for several years. But then, I looked around and an opening for a painter and decorator came available, so I thought I’d try it. I felt it was a good match with my experience as my skills fed into my creativity.
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It’s been over 20 years since starting my business. In that time, I focused on quality workmanship and trust with clients, which meant the business became very busy, very quickly. I now have a good name in the industry and some great relationships with builders and other trades. We work in respectful circles, with companies and clients who judge people by the quality of their work not what they look like. I’m proud of being a female running a successful business in a traditionally male-dominated area and want to give women opportunities to move forward and become successful in this industry too. We employ two female apprentices and provide them with a safe and respectful working environment that allows them to really learn and grow. Having completed a range of showcase projects, and as a proud member of the Master Painters Association, we are honoured to have been recognised with several industry awards. We mainly enter these for our staff as it’s validation of what a great job they’re doing. Our clients also get as excited as we do when we win something. I believe the building industry is changing in a good way towards women in the trade, but sadly there are still some people and companies who haven’t moved along with that. We absolutely do not align ourselves with businesses that act in that manner.’ www.carmelinteriors.com Thankyou Carmel for your story. I agree with you also that there’s a positive view towards ‘women in the trade’ today. I remember many years ago, seeing for the first time, a female apprentice in a classroom and now I am witnessing more and more male employers taking on female apprentices than ever before. Times are changing, and for the good.
Jim Baker
MyTools4Business
2022 July Issue | 17
Is Painting & Decorating for you?
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Painting Apprenticeships brings Apprentices together with Painting Business owners.
18 | Aussie Painting Contractor
BEING BALANCED
in Chaos...
When we’re hit with uncertainty either suddenly or in large amounts, it can throw us off. We can get frustrated, overwhelmed, stressed, discouraged.
• • •
This is normal and there’s nothing wrong with it. However, it’s my belief that we can train ourselves to stay more balanced when things get chaotic, stay level-headed and calm, which allows us to become an oasis of sanity that others can rely on.
• • • •
Let’s talk about how to train ourselves to stay more in balance when things get chaotic.
What Throws Us Off
When we get thrown off, it’s like the rug being pulled out from under us — it feels disconcerting, disorienting, uncomfortable. We don’t like the feeling. At the core of this rug-pulling is uncertainty. We feel uncertainty and an uncomfortable disorienting feeling.
Someone criticizes us Someone acts in a way that we don’t like We have a lot to do and we aren’t sure if we can do it all Things aren’t going the way we hoped We don’t succeed at something We’re struggling with something And so on
Basically, all the things that frustrated, overwhelm, stress and discourage us, are things that cause uncertainty and the feeling of disorientation. We react in ways that are typical for us in particular: maybe you react in anger, maybe you start being harsh on yourself, maybe you shut down or hide. The result of this is that we feel thrown off, and we can be super stressed or frustrated through a chaotic period in our lives.
2022 July Issue | 19
How to Stay Balanced
How to Train
If you’re sitting outside on a beautiful day, you can be with that experience, and relax with it, fully appreciating it.
1. Keep this practice front of mind with some kind of mantra or reminder. I like to write it out on a note that I see often, and put it on my phone lockscreen, and have a couple reminders pop up. 2. No matter what is going on, see if you can find a moment of relaxed appreciation and being with the experience fully. 3. When you feel some kind of emotion, be with that fully, and see if you can bring relaxed appreciation. 4. When you get thrown off of this practice, be fully with the result of that. 5. Do a 2-minute review at the end of each day to see how it went. This will deepen your learning and help you remember to practice the next day.
In a sentence: be with everything in your experience, with an attitude of relaxed appreciation.
If you’re sitting in a rainstorm, you can be with that experience too, with relaxed appreciation. If during your day you get thrown off and feel overwhelmed or frustrated, this isn’t a problem — be with that feeling, as you would with any experience. You can bring relaxed appreciation to the thunderstorm of your overwhelm or frustration. If someone is criticizing you or acting in a way that would normally frustrate you, could you be with the experience of them doing that with relaxed appreciation? If you’re stuck in traffic, or plowing through messages, or in a long meeting, can you be with that experience with relaxed appreciation? Try it now. Be with this moment fully, with relaxed appreciation. It’s always available to you — it’s wonder at the miracle of this moment. It’s a willingness to be with all experience, no matter how pleasant or unpleasant, comfortable or uncertain. It’s finding curiosity and love in each moment, and finding true appreciation for all of life.
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This won’t come naturally to most of us. So we can train. Here’s what I recommend:
That’s the training. What would it be like for you, to be more balanced when things get uncertain, chaotic, messy? To be fully with all of life, and to appreciate each moment for whatever it brings? --------------------------------------------------------------------
Leo Babauta ZEN HABITS
4 reasons our gas and electricity prices are suddenly sky-high Gas users and the incoming government are describing Australia’s sudden east coast energy crisis as “apocalyptic” and “a perfect storm”.
sions, and input terminals have been either rejected on environmental grounds or delayed due to financial barriers.
There is no doubt that a rare combination of international and domestic events, together with long-term policy shortcomings, have led to a very nasty position from which there is no easy way out.
Read more: Gas crisis? Why Japan pays less than Australians for Australian gas
Four events have led to the immediate crisis. 1. Coal-fired generators have been failing First, outages at coal-fired power stations have meant that gas has been called on more than usual. More than one quarter of coal-fired plants have been offline for much of the year so far, which is far from usual. The system is designed so that when that happens, gas generators take their place. 2. Australia is running low on gas Second, the Australian Energy Market Operator (AEMO) has been warning of gas supply shortages in the southeast for some time as traditional gas resources, mainly in offshore Victoria, run low. Onshore gas development in Victoria has been prevented by a succession of state government deci-
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In 2012 the Gillard government rejected the idea of reserving a certain proportion for domestic consumption, as happens in Western Australia. The history of cheap and plentiful gas in Victoria has made Victorian households and firms more dependent on gas than other Australians, and there has been little move towards electrification. 3. Europe wants non-Russian gas Third, in their desperation to reduce their dependence on piped Russian gas, European countries have been pushing the international price of liquefied natural gas sky high, buying from countries such as Australia, Qatar and the United States. Some Australian exporters have received prices four times or more times higher than normal. 4. Suddenly, there’s a cold snap Finally, a cold snap on Australia’s east coast has brought forward the winter spike in demand for gas for heating.
The immediate impact of the combination of these four events has been a looming shortage of gas on the east coast, including gas to supply power stations.
It was also concerned that gas producers were selling gas overseas at lower prices than they were asking for at home. The threat of government intervention has generally ensured supply.
Industrial gas consumers who do not have the protection of a fixed contract are facing potentially destructive prices.
But the mechanism is unlikely to be effective in addressing the current problem, for two reasons. First, there are physical limits on getting gas awaiting export in Queensland to Victoria where it is needed.
Thankfully there is no immediate price impact for households using gas, as their retailers have gas supply contracts, although many households are suffering higher electricity prices because gas-fired power stations have had to be pushed into service to replace coal-fired stations. QUICK ACTIONS AEMO has taken action, partly by imposing a wholesale price cap of $40 per gigajoule ahead of forecasts the spot price in Victoria was set to climb $382. The “shadow price” used to indicate what would have happened were it not for the cap, hit $800 on Tuesday. And AEMO has triggered the so-called Gas Supply Guarantee Mechanism to secure gas for power generators. These actions have worked, even though a price of $40 per gigajoule is financially crippling for large industrial consumers, and AEMO cannot magically source gas that isn’t there. BUT NO OVERNIGHT ANSWER Chris Bowen, the new minister for climate change and energy, is already working closely with AEMO and his state and territory counterparts and industry to get complete information and advice. But as Treasurer Jim Chalmers said on Tuesday, there’s no overnight answer. The Turnbull Government introduced the Australian Domestic Gas Security Mechanism in 2017 in response to concerns that exports of liquefied natural gas from Queensland might one day create domestic shortages.
And second, to the frustration of many gas customers, the mechanism can’t bring down prices, which are set internationally. It deals only with supply. THANKFULLY, NO FALSE PROMISES The current crisis illustrates the fundamental policy connection between electricity supply, gas markets, and climate change. The decision to immediately convene a meeting of the national energy and resources ministers and the relevant agencies is the right first step, but only the beginning of a journey that will involve urgent and sustained reforms to the way Australia’s markets work. Read more: Australia has plenty of gas, but the price is extreme. The market is broken The new government has indeed come to power in the face of a perfect storm, and there are more challenges ahead. Its approach so far has been constructive, measured, and cooperative – and it has resisted the temptation to make promises it can’t keep. It is to be hoped that this new approach will enable it to navigate through to what will almost certainly be somewhat calmer waters ahead. --------------------------------------------------------------------
Tony Wood
Program Director, Energy, Grattan Institute
2022 July Issue | 23
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Protect your Business Register a Trademark The only way to stop someone else from using a business name or logo that is the same as yours is through registering a trademark. Protecting your business from deliberate or mistaken intellectual property theft is crucial. Many people do not realise that registering a business name is different from registering a trademark. Registering your business name is a legal obligation, as it differs from the name of the legal entity that owns the business. However, registering your business name as a trademark is a separate choice you can (and should) make in order to protect your brand from someone else using it. Registering a trademark protects others from using the goodwill in your brand that you have created through the good work you have done for past clients. For example, it is important to register a trademark so that clients do not mistakenly go to another business’s Facebook page that might be using your name.
Case Study
I had a call a while ago from a lady who had just heard from a supplier that another business with a remarkably similar name was opening a few doors down from her shop and had ordered a similar product range. Her business name was not registered so nothing we could do at this stage. We quickly registered her name as a trademark and when this is registered will seek to prevent the other business from using the name. Registering a trademark was something she had been thinking of doing but not got round to. It is possible to register a remarkably similar business name through ASIC as another operating business – e.g. The Contracts Lawyer vs. The Contract Lawyer. This will inevitably cause confusion for customers, suppliers, etc. and could negatively impact the positive perception of your brand through no fault of your own. Registering a trademark is the only way to stop someone else from using a similar business name.
It should also be noted that registering your business name as a trademark gives you the widest form of protection, compared with registering your business logo (even if the logo contains your business name). It stops anyone using your business name within their name or logo (in your designated class(es) of goods and services). Once you have completed the trademark registration process you will own the right to use the registered word, phrase or letters in relation to the classes of goods and services in respect of which it is registered. This applies across the whole of Australia. The benefits include being able to serve a cease and desist letter on other businesses using the name. You can also sell a registered trademark, making it a valuable asset when selling a business, and it can be reflected on the balance sheet. Furthermore, you can license your trademark or franchise your business, which can be financially advantageous.
Did You Know…
A TM symbol on a brand indicates that said brand is currently an unregistered trademark, however, the owner is in the process of registering it. Whereas the ® symbol means the mark is a federally registered trademark. ® trumps TM.
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How to register a trademark?
The good news is that registering a trademark is relatively inexpensive and easy to do. A commercial lawyer or trademark attorney can complete the registration on your behalf. Alternatively, if you would prefer to do it yourself, there is a five-step process on the IP Australia website. You can use the trademark assist tool on the IP Australia website to help determine whether your name is ‘trademarkable’, as well as search for existing trademarks. You must be unique. You cannot simply trademark the term “Great Lawn Mowing”, as commonly used descriptive terms are unlikely to be accepted for registration. You must determine the class or classes of goods and services in which you will register your trademark. There are 45 separate classes and it is possible to register in multiple classes (each charged individually). For example ‘plumbing services’ fall within Class 37 however ‘bathroom installations’ fall within Class 11. To help you decide what goods or services to list think about the exact nature of your business and ask yourself the following: • What is the nature of your business? • What are you best known for by your customers/ clients? • What products or services does your business provide? A helpful tip when applying is to use the pre-application service known as TM Headstart. This provides an initial assessment of your application before you officially apply using online services. With TM Head start the payment is split. The results from the initial assessment of your application should only take around 5 days. This may save
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you money, as the examiner’s report will determine if your trademark is likely or unlikely to be registered before commencing Part 2. Therefore if it is deemed unlikely you may decide not to pay the next part of the fee to a full determination. The entire process will take approximately 7 months under Trademarks Act. Therefore, by using TM Headstart you are also saving time, rather than waiting many months before finding out your application has been denied.
Further Protection
There are structural changes you can make to your business to ensure the maximum protection of your intellectual property and assets, for example, you could set up a company and family trust and appoint the company as corporate trustee of the trust. In addition to this, your intellectual property can be held in a company other than the operating entity. The owner of the intellectual property could then grant an intellectual property license to the operating company. This way, your intellectual property is separated from the main operating company. Please contact me if you require any further information on registering a trademark or any other commercial legal issue.
Where You Get Your Sense of Self-Worth So much of our difficulties can be entangled with our sense of self worth — from whether we take care of ourselves with good habits to how we are in relationships to how much confidence we have at work. Think about your biggest difficulties (other than problems at a national or global level) … how many of them could be resolved if you had an unshakable confidence in your self-worth? If you felt whole, complete, and incredibly worthy? You could create and put your creation out into the world with confidence, and even market it to others. You could launch a business or venture, create an organization to serve others, teach something you care about. You could speak confidently in public, put your ideas out there, stand for yourself. You could set boundaries, express your needs, take care of yourself.
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This all comes from a strong sense of self-worth. But we are taught from a young age to get our sense of self-worth externally: •
Praise or validation from others
•
Likes and comments to validate us on social media
•
Accomplishments, awards, rewards
•
Success, wealth, a nice house, nice things
•
Nice clothes, things that make us feel attractive or cool
•
Sex, attracting a mate, interest or attention from others
•
People wanting to spend time with us, showing an interest in us
And so on. The problem with this kind of external validation of our worth is that it is fleeting.
Sometimes we’ll get it and feel good about ourselves, and many times we won’t get it and will feel discouraged, rejected, miserable. And then we’ll seek more of the external validation, because that’s what we know to do when we need to feel better about ourselves.
•
So … what can we do? We can seek to find our selfworth from within.
•
This can be a lifetime exploration, but some places you might look: • • • • • • • •
Notice the good in your heart Have compassion for yourself when you’re feeling difficulty Be curious about yourself Try to notice your determination, perseverance, commitment See if you can find your sense of play, joy, and wonder Appreciate how you appreciate things Spend time with yourself, and care about how you feel Give love to yourself and others, and appreciate the love that flows from you
• •
• • •
Pour yourself into one act, giving all of yourself, and appreciate that as well Keep coming back to a project or habit change effort, even when you fall off Journal, reflect, contemplate, meditate, find time for quietude and stillness Go on a meditation retreat and explore your inner self Find ways to explore bringing out your joy, divinity, play, curiosity, and more Notice the abundance of love that you have Find wonder at who you are in every moment
Some of these might be challenging — that’s OK! Notice how you respond to challenge, and find wonder in that as well. Keep exploring, keep bringing curiosity, keep bringing wonder and love. What would it be like if you had an abundant sense of self-worth always available to you?
Leo Babauta ZEN HABITS
The portable, inexpensive method to prevent paint waste-water polluting the environment.
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Breaking Unhealthy Business Addictions Business can be stimulating and addictive. There is a thin line between addiction and passion. Addictive behavior is a behavior that is so controlling, stimulating and rewarding that its leads to lack of control and harm to those around us. Passion is a strong barely controllable emotion that leads to success and excellence. The National Institute of Health estimates that 1 in 10 have some type of addictive behavior. The good news is that being addicted to your busziness is probably better than being addicted to drugs or alcohol. Addiction also contains a strong element of denial. This is where the problem magnifies itself as people practice the same behaviors over and over and expect a different result. What’s inspiring this article is the transition of one of my networking customers. Fifteen years ago, he was several hundred thousand in debt and made no money. He was addicted to buying the latest equipment, trying the latest business idea and the philosophy that selling would take care of everything. And boy can this guy sell. But the problem was he would sell himself on his own flawed thinking the same way he would sell his customers. This year his salary and income amounted to $441,725, he takes 4 vacations a year and the business and his personal finances are rock solid . First, understand that enjoying working is not a bad thing. Think of the millions of people who go to work
every day and hate their job. I enjoy working and it has provided me with a nice livelihood. However, working hard in an unprofitable business and being in denial of that fact leads to an unhappy life. Killing denial and building a profitable business will at least give you the option of improving your life. An owner with an unprofitable business is like a gerbil going around a wheel in the pet store window. So how did he do it and what should you do? Growth is not your friend and sales growth can be addictive. For most unprofitable businesses, the solution is to increase their prices and shrink the business. A five percent price increase can have little impact on sales and a tremendous impact on profits. One exception to this price raising strategy can be a business that operates in the new construction arena and everything tends to be price driven. You may have to find new markets, which can take time. If you are in a new construction price driven market, look at your costs carefully. Much of this work is bid per square foot or some type of unit pricing. Determine which jobs you make money on and which you don’t.
Stay away from the losers and take a more disciplined approach.
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Another exception to the price increase strategy is someone that has built a big shop and expanded their market but still is not profitable. Addictive decisions can include large shops and overhead. This situation can take time to get out of but the same advice applies. Know where you make and lose money and be more strategic. Don’t see volume as a catch all solution. I cannot over emphasize the importance of job costing and eliminating unprofitable jobs. Some contractors are good at certain types of work and others are not. Don’t worry about complicated material costing. Simply track labor costs and see if the job took more labor than you thought. If necessary, do it by hand each week when you do payroll. As consultants, we find that the typical contractor loses money on 30% of their work and does it over and over. It takes just as much, if not more effort to produce losing jobs than where you make money. Hire a strong financial person or office manager. Have a monthly financial meeting. At that meeting review an accrual balance sheet and profit and loss, accounts receivable and all jobs done that month. Force this discipline. Much like a breathalyzer on a car, it can save you. Yes, you may be losing money but you will only become more anxious and afraid by living in the dark. Put some type of discipline in place. If you are unorganized, hire someone to help keep you organized. Don’t try to do it alone. But if you have the kind of admin staff where you have to tell them what to do, they are not going to provide enough discipline to hold you accountable. Also, a family member may not be the best fit as the family dynamic plays into the equation.
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Track how you spend your time and put a value on it. Focus on things that bring value to the business. If you spend most of your time in sales, find ways to do your estimates faster and more efficiently. Learn to delegate. Take your best foreman and give them clear instructions on jobs and turn them loose. Teach the foreman how to plan the job, set milestones and make labor and schedule. Give your crews the knowledge they need to succeed and track their success. Create new work habits. Stop pretending you are getting work done late at night. Get up early, go to work an hour earlier. Try to get thinking work done in the morning while you are still fresh. Leave on time and have dinner with family or friends. Be disciplined for a month or two and this will be your new life patterns. Don’t expect to do the same over and over and succeed. Change is never easy. For most individuals, motivation tends to wear off before the change actually occurs. This is why triggers such as monthly financial meetings are so important. Use numbers, facts and a few simple disciplines to create a new you. --------------------------------------------------------------------
Monroe Porter
is president of PROOF Management a firm that teaches seminars and runs networking groups for painting contractors. Several Aussie painting contractors travel to the US each year to participate in his programs.
www.proofman.com
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Come and share your painting ideas! facebook.com/groups/aussiepaintersnetwork/
Insurance firms can skim your online data to price your insurance — and there’s little in the law to stop this What if your insurer was tracking your online data to price your car insurance? Seems far-fetched, right? Yet there is predictive value in the digital traces we leave online. And insurers may use data collection and analytics tools to find our data and use it to price insurance services. For instance, some studies have found a correlation between whether an individual uses an Apple or Android phone and their likelihood of exhibiting certain personality traits. In one example, US insurance broker Jerry analysed the driving behaviour of some 20,000 people to conclude Android users are safer drivers than iPhone users. What’s stopping insurers from referring to such reports to price their insurance? Trusted, thoughtful and independent climate coverage needs reader support. Our latest research shows Australian consumers have no real control over how data about them, and posted by them, might be collected and used by insurers. Looking at several examples from customer loyalty schemes and social media, we found insurers can access vast amounts of consumer data under Australia’s weak privacy laws. A person’s hands are visible holding an Apple phone on the left (screen facing forward), and a generic Android on the right.
How would you feel if a detail as menial as the brand of your phone was used to price your car insurance? Shutterstock
Your data is already out there
Insurers are already using big data to price consumer insurance through personalised pricing, according to evidence gathered by industry regulators in the United Kingdom, European Union and United States. Consumers often “agree” to all kinds of data collection and privacy policies, such as those used in loyalty schemes (who doesn’t like freebies?) and by social media companies. But they have no control over how their data are used once it’s handed over. There are far-reaching inferences that can be drawn from data collected through loyalty programs and social media platforms – and these may be uncomfortable, or even highly sensitive.
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Researchers using data analytics and machine learning have claimed to build models that can guess a person’s sexual orientation from pictures of their face, or their suicidal tendencies from posts on Twitter.
Also, insurers may be able to infer (or at least think they can infer) facts about an individual which they want to keep private, such as their sexual orientation, pregnancy status or religious beliefs.
Think about all the details revealed from a grocery shopping history alone: diet, household size, addictions, health conditions and social background, among others. In the case of social media, a user’s posts, pictures, likes, and links to various groups can be used to draw a precise picture of that individual.
There’s plenty of evidence the outputs of artificial intelligence tools employed in mass data analytics can be inaccurate and discriminatory. Insurers’ decisions may then be based on misleading or untrue data. And these tools are so complex it’s often difficult to work out if, or where, errors or bias are present.
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What’s more is Australia has a Consumer Data Right which already requires banks to share consumers’ banking data (at the consumer’s request) with another bank or app, such as to access a new service or offer.
A magnifying glass hovers over a Facebook post's likes
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The regime is actively being expanded to other parts of the economy including the energy sector, with the idea being competitors could use information on energy usage to make competitive offers. The Consumer Data Right is advertised as empowering for consumers – enabling access to new services and offers, and providing people with choice, convenience and control over their data. In practice, however, it means insurance firms accredited under the program can require you to share your banking data in exchange for insurance services. The previous Coalition government also proposed “open finance”, which would expand the Consumer Data Right to include access to your insurance and superannuation data. This hasn’t happened yet, but it’s likely the new Albanese government will look into it. Read more: Soft terms like 'open' and 'sharing' don't tell the true story of your data Why more data in insurers’ hands may be bad news There are plenty of reasons to be concerned about insurers collecting and using increasingly detailed data about people for insurance pricing and claims management. For one, large-scale data collection provides incentives for cyber attacks. Even if data is held in anonymised form, it can be re-identified with the right tools.
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Each day, people post personal information online. And much of it can be easily accessed by others. Shutterstock
Although insurers are meant to pool risk and compensate the unlucky, some might use data to only offer affordable insurance to very low-risk people. Vulnerable consumers may face exclusion. A more widespread use of data, especially via the Consumer Data Right, will especially disadvantage those who are unable or unwilling to share data with insurers. These people may be low risk, but if they can’t or won’t prove this, they’ll have to pay more than a fair price for their insurance cover. They may even pay more than what they would have in a pre-Consumer Data Right world. So insurance may move further from a fair price when more personal data are available to insurance firms.
We need immediate action
Our previous research demonstrated that apart from anti-discrimination laws, there are inadequate constraints on how insurers are allowed to use consumers’ data, such as those taken from online sources.
The more insurers base their assessments on data a consumer didn’t directly provide, the harder it will be for that person to understand how their “riskiness” is being assessed. If an insurer requests your transaction history from the last five years, would you know what they are looking for? Such problems will be exacerbated by the expansion of the Consumer Data Right. Interestingly, insurance firms themselves might not know how collected data translates into risk for a specific consumer. If their approach is to simply feed data into a complex and opaque artificial intelligence system, all they’ll know is they’re getting a supposedly “better” risk assessment with more data. Recent reports of retailers collecting shopper data for facial recognition have highlighted how important it is for the Albanese government to urgently reform
our privacy laws, and take a close look at other data laws, including proposals to expand the Consumer Data Right. Read more: Hidden costs, manipulation, forced continuity: report reveals how Australian consumers are being duped online -------------------------------------------------------------------Zofia Bednarz
Lecturer in Commercial Law, University of Sydney
Kayleen Manwaring
Senior Research Fellow, UNSW Allens Hub for Technology, Law & Innovation and Senior Lecturer, School of Private & Commercial Law, UNSW Law & Justice, UNSW Sydney
Kimberlee Weatherall Professor of Law, University of Sydney
Insurance Guide for Self-Employed Tradies As a subcontractor or self-employed tradesman there are a number of different business insurance options available, but how do you know what you need? We originally wrote this guide way back in 2010. Now in 2019 the guide is just as relevant, but we’ve given it a refresh to make it far more comprehensive. There are loads of different trade insurance types available. Most tradies will know about public liability and income protection, but what about contractual liability and business interruption? You might know everything about your trade, but it’s tough to know everything about business insurance. In this guide we’ll look at what you need as a newly self-employed tradie, or a seasoned trade business owners. Use the links below to jump straight to a section: • Newly Self-Employed Tradies • Established Businesses • Public Liability Insurance • Tool Insurance • Contract Works • Income Protection • Life / TPD / Trauma
Newly Self-Employed
When it comes to the trades, typically what we think of as a newly self-employed person is a tradie who is going out on their own for the first time as a subcontractor or business owner. You might be subcontracting to a builder under an ABN, or you might be starting your own business
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doing electrical or plumbing work. Either way, you’re going to need some insurance. Some newly self-employed tradies choose to invest money into insuring themselves comprehensively, but in reality, most are looking to get the basics without spending too much money. So what are the basics that you really need as a startup trade business? Public liability insurance should be your first pick. We’ll go over this cover in more detail later, but this is the insurance that will cover in the event that you cause property damage or personal injury to a third party. Even as a new business you’re likely to have a large collection of tools. Most tradies will start building their collection during their apprenticeship, and it will only grow once you’re qualified. As an employee you might not have bothered with tool insurance, but as a business owner you should certainly consider covering them, as without your tools you can’t work, and if you can’t work you won’t be earning any money. The last of the ‘big three’ insurance types considered to be essential for self-employed tradies is income protection. Now that you’re self-employed you can say goodbye to sick leave, and in most cases workers compensation. So if you’re off work, you’re on your own. Income protection will save your bacon by covering a large portion of your income whilst you’re unable to work due to injury or illness.
Established Businesses
If you’re running an established trade business, there’s a good chance you’ll already have public liability, tools and income protection already in place.
We won’t be looking at every type of cover available, but we will include the most common forms of cover. We recommend that you speak with one of our experts to see which types of cover are right for you.
If you don’t, you need to get in touch with us ASAP!
Public Liability Insurance
You might have setup your original business insurance years ago when starting up, but things change in business, and now you might have a host of new risks to consider. For example you might now be keeping a range of stock for your business. Tool insurance can sometimes cover stock (depending on the insurer) but often it won’t be covered. So if you lose a trailer with $10k worth of tools and $5k worth of stock, your tool insurance is only going to cover the $10k in tools, leaving you $5k out of pocket. Some trade businesses grow to the point where they have their own small workshop or warehouse. Even if you’re renting, you’ll still need to insure anything you keep on site. You might now be undertaking larger contracts, which makes cover such as contract works and contractual liability more important. These are all types of cover that you wouldn’t quote online, and would instead speak with one of our expert insurance brokers about.
Types of Cover
We’ll now dig deeper into the individual types of business insurance for self-employed tradies and trade business owners.
Whether your trade business is brand new or was established fifty years ago, public liability insurance should be seen as absolutely vital. Public liability will respond in the event that you cause property damage or personal injury to a third party. Cover is typically available at $5 million, $10 million and $20 million. Many small start-ups will opt for $5m cover, whilst larger businesses working on larger projects will generally take $20m. Claims can range from a few hundred dollars (depending on the excess) through to multi-millions. A smaller claim might involve property damage. For example you might be an electrical contractor working in a roof, and you accidentally put your foot through the ceiling. The policy would cover the costs of repairing and repainting their ceiling. At the top end you have claims involving personal injury or death. If your work was to result in serious injury or death to a third party, you can imagine the potential costs involved if you were to be sued.
Again, there is where your public liability policy would step in. Your policy would not only cover the final settlement against you, but also your legal expenses throughout. How much of the claim is covered, and what level of legal expenses will be covered, will depend on the policy you have. This is why it’s important to have the cover that is right for you and your business. For more information about public liability or to obtain a quote, please click here for our dedicated guide.
Tool Insurance
As a tradie on the tools, or as a business owner who supplies tools to their staff, you’ll know how vital these items are to your business. Without your tools you can’t work, and as a self-employed tradie no work means no money! There is a misconception amongst some tradies that tool insurance is expensive, or that it’s too difficult to claim on.
There are a couple of things to keep in mind with tool insurance which are going to assist greatly when you need to make a claim. Firstly, most policies only cover theft of tools following forced or violet entry. So to make a successful claim, there must be evidence of forced entry and there must be a police report. Secondly, you must be able to provide evidence of ownership for the items you are claiming. When you purchase a policy we don’t ask for evidence, but we do need you to supply it in the event of a claim. Invoices for the equipment are best, but any other proof such as original manuals or boxes, or even photos, can be helpful where invoices or receipts are not available.
Contract Works Insurance
We won’t go into too much detail on contract works insurance, but if you’re a builder, or a contractor taking on larger projects, this one could be important for you. Contract works insurance is similar to public liability in some ways, but instead of covering incidents where you have been negligent, it covers incidents that you were responsible for, but not negligent. Hang on… Why would you be responsible for something if it wasn’t your fault? A good example here is malicious damage where the contract makes you responsible for the site. You might have done the right thing and secured the site, but someone still comes in and causes damage.
We can’t speak for some of the insurers or broker that have caused this, but here at Trade Risk the truth couldn’t be more different. We look after hundreds of self-employed tradies with their tool insurance and have successfully settled a huge number of tool insurance claims. The cover is also very affordable, with $5k cover starting from under $400* when combined with a public liability policy. * Based on a carpenter in Qld with $5k worth of tools, combined with public liability.
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You’re not “at fault” as such, as you did the right thing to secure the site. Because you weren’t at fault, your public liability won’t respond, but your contract works policy will. Another policy that falls into a similar category is contractual liability insurance. We recommend that you speak with one of our expert insurance brokers if you’d like more information about either contract works or contractual liability.
Income Protection
Income protection can be mandatory in some cases to enter certain worksites. Not all worksites will have this rule, but some certainly do for subcontractors or other self-employed trades. As a self-employed tradie you have no access to sick leave, and depending on which state you operate in, you might not have access to workers compensation insurance either. Income protection will assist by replacing up to 75% of your income for a period of time in the event that you cannot work due to injury or illness. One of the great benefits with a proper income protection policy is that it covers you away from the worksite as well. So if you suffer an injury on the weekend, you’ll still be looked after.
Trauma insurance is somewhat similar to TPD, but its lump sum is paid out upon diagnosis of a critical illness. All three of these covers (life, TPD and trauma) are important for all workers, but can be even more important for a trade business owner to ensure their family is looked after. Where to Next? If you’re still reading, your head is probably exploding from all of these different insurance options, and they are only the tip of the iceberg! Our job as insurance brokers is to guide you through the maze of business insurance and ensure you have the right cover to suit your needs.
It’s important not to confuse proper income protection with similar, but inferior, policies such as personal accident, or accident and illness etc. Often these policies can be referred to as income protection, but they’re not the same. There are host of differences, with one being that some only cover you whilst on site. For more information about income protection for self-employed tradies, or to obtain a quote, please click here for our dedicated guide.
Life, TPD & Trauma Insurance
Income protection is fantastic when it comes to replacing your income, but it’s not always going to do the complete job of protecting your family. Life insurance, TPD insurance and trauma insurance can step in to fill the gaps. In the unfortunate event of your passing, income protection won’t help your family (as it doesn’t pay out on death) but life insurance certainly will.
We help all self-employed tradies with the insurance, from one-man start-ups needing the basics through to multi-million-dollar businesses with far more comprehensive requirements. To get started please call our team on 1800 808 800 or complete our online contact form. We deal with most of our clients via phone and email, but if you’re in Brisbane or surrounding areas you can visit our office or we’ll come to you. We love business, we love the trades and we’d love to help protect what’s important to you.
TPD stands for total and permanent disability. It pays out a lump sum in the event that you suffer an injury or illness serious enough to leave you unable to ever return to work. In that event income protection will still replace most of the lost income, but you’ll still need extra money to deal with this life-changing event.
www.traderisk.com.au 1800 808 800 2022 July Issue | 45
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IMPORTANT
Contacts
Aussie Painters Network aussiepaintersnetwork.com.au
Ph. 0430 399 800
National Institute for Painting and Decorating painters.edu.au
Ph. 1300 319 790
Australian Tax Office ato.gov.au
Ph. 13 72 26 / Ph. 13 28 65
Award Rates fairwork.gov.au
Ph. 13 13 94
Australian Building & Construction Commission www.abcc.gov.au
Ph. 1800 003 338
Mates In Construction www.mates.org.au
Ph. 1300 642 111
Workplace Health and Safety Contacts Comcare WorkSafe ACT Workplace Health and Safety QLD WorkSafe Victoria SafeWork NSW SafeWork SA WorkSafe WA NT WorkSafe WorkSafe Tasmania
comcare.gov.au worksafe.act.gov.au worksafe.qld.gov.au www.worksafe.vic.gov.au www.safework.nsw.gov.au www.safework.sa.gov.au commerce.wa.gov.au/WorkSafe/ worksafe.nt.gov.au worksafe.tas.gov.au
1300 366 979 02 6207 3000 1300 362 128 1800 136 089 13 10 50 1300 365 255 1300 307 877 1800 019 115 1300 366 322
actcancer.org cancercouncil.com.au cancercouncilnt.com.au cancerqld.org.au cancersa.org.au cancervic.org.au cancerwa.asn.au
(02) 6257 9999 (02) 9334 1900 (08) 8927 4888 (07) 3634 5100 (08) 8291 4111 (03) 9635 5000 (08) 9212 4333
Cancer Council Australia ACT NSW NT QLD SA VIC WA
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