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Archive for April, 2013

Self-Funded Superannuation Small Business Loans

Friday, April 5th, 2013

Here’s a question. Why is it that an Australian small business can’t utilise a one-time interest free loan of $20,000 from their superannuation scheme? I mean, in cases where they apply, prove the merits of their idea and earn that loan in a similar way to existing loan applications.

OK it’s a loose idea shot directly from my empty pocket. And, before you ask, I’m one of the many Australians who doesn’t even have that amount in my superannuation. But it’s not a bad idea when you think about it.

On the plus side it would release a staggering amount of cash back into the economy; it would empower bootstrapping entrepreneurs a one-time access to limited interest free finance; it would offer potential stimulation to Australian innovation, and it would offer a one-time limited finance opportunity to a business on the brink of cash flow failure (where it can be proven otherwise a viable enterprise) or fund equipment upgrade or expansion.

On the negative side, a one-time loss out of superannuation isn’t really the end of the world. The amount of successes, given an adequate application and assessment regime, should far outweigh the number of losses.

Anyway, it’s just an idea. If we really want small business to thrive we should be doing our utmost to empower their resource profiles so they can achieve realistic goals and objectives. And, after all, it’s their money.

It is much better that a business be empowered by their own funds – which may or may not be returned into the superannuation fund given a determined criteria – than to approach banks and other finance providers to charge interest. For one, their own money won’t call that debt in at the worst possible time. It’s a relatively safe loan from a business owner to themselves. It can also be granted with a slightly higher risk of failure.

Let’s say this scheme has a one-time non-refundable $200 application and assessment fee. Let’s say State Govt reaches into its coffers to make that system sustainable. And let’s say, just for the hell of it, a condition of the loan is that it’s given (like the NILS Scheme) not in cash but in direct payment for the needed product or service or outstanding debts.

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Mea gloria fides – Faith is my glory

Thursday, April 4th, 2013

Faith is my glory

I come from interesting stock on my father’s side of the family. I’m a great great great great great grandson of the First Fleet convict Richard Morgan. And I have Watson blood coursing through my veins.

Originally, the Watson name arrived in Britain in 1066 with the Normans and has spread across the planet from the United Kingdom to Australia, New Zealand, South Africa and the United States of America.

Two of Richard Morgan’s granddaughters married Watsons, brothers from the family line that purchased Rockingham Castle in Jutland from Henry VIII. The castle remains in the Watson family hands and is the only privately owned castle in Britain.

My great great great grandfather was Brereton Ross Porter Pemberton Rolla Watson (1804-1877). Brereton was the son of John Wentworth Watson and Angelina Marriott (daughter of the Lord Mayor of London). In Tasmania, Brereton and his brother Feltham Bold Watson married Wade sisters (Richard Morgan’s granddaughters). In turn, Brereton Watson and Catherine Wade were the parents of my great great grandmother Catherine Marriott Watson (1851-1943).

The image above is the Watson Family Crest. Mea gloria fides – Faith is my glory.

Aunty Elvie’s Husband & Child (1940s)

Tuesday, April 2nd, 2013

I haven’t had a lot to do with some of my aunts, let alone their husbands. This is a scanned photograph that was made by my father’s mother Elvie Ruth Bonner (1901-1986) some time in the 1940s to early 1950s. My sister’s best guess is this is Elvie’s first husband with their son (although the Ancestry.com.au family tree doesn’t have any of Elvie’s marital or family details). I do kind of like this photograph though, it’s very of its era. My grandmother’s low perspective (she was barely five feet tall) with a slight crouch has the subject dominating the portrait image. It lends a certain strength to the hard working man.

Elvie's husband and child

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About the Author

Steven Clark Steven Clark - the stand up guy on this site

My name is Steven Clark (aka nortypig) and I live in Southern Tasmania. I have an MBA (Specialisation) and a Bachelor of Computing from the University of Tasmania. I'm a photographer making pictures with film. A web developer for money. A business consultant for fun. A journalist on paper. Dreams of owning the World. Idea champion. Paradox. Life partner to Megan.

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