As a councillor for the NSW Business Chamber I have been recently travelling throughout the Mid North Coast presenting to business owners on the topic of Personal Property & Securities (PPS). I have presented in areas that include Port Macquarie, Coffs Harbour, Nambucca Heads and Macksville.
Each presentation generates a myriad of questions on this important new legislation. I have some Mid North Coast business owners who believe the legislation does not apply to them as they only sell services. Others believe that if they do not make a registration under the new PPS legislation then it makes no difference.
I can assure you that this is not the case. This legislation applies to every business owner that supplies goods and/or services to their customers on credit. If this is you then you MUST be aware of how this legislation can affect your cash flow.
Additionally, neglecting to make appropriate registrations for your business can lead to you having to pay money back to a customer that becomes insolvent. That's rightâ€¦.YOU MAY HAVE TO PAY MONEY BACK!!!!
If you are based anywhere on the Mid North Coast and would like to find out how this legislation affects your business so that I can help you get registered then get in touch.
There are time limits that apply to making these registrations so do not wait until you think your customer is in trouble IT WILL BE TOO LATE!!!