An important change is taking effect in the Companies Act which will greatly impact regulatory costs for your Company. This change is the new criteria for classification as “small company”, which takes effect for financial periods beginning 1 July 2015. What this means is that if your Company’s financial year end is 31 December 2015, your Company may potentially be classified as a small company in the financial year beginning 1 January 2016.
These words first struck me a while back and it was, I believe, from a Richard Branson quote. I was reminded of it again when circumstances led me to contemplate leaving my other partners and starting out on my own.
It was not an easy decision to make for sure as I know we are not in the rosiest of economy at the moment. Perhaps the safest of choice would have been simply not to step out of my comfort zone. But yet, in an extraordinary bit of serendipity, I've met people from all walks of life during this period, who have done this scary business of jumping. Some have thrived, some are still finding their foot, but in all of them, there wasn't a single tinge of regret. So naturally, when they knew of my situation, they couldn't have been more encouraging and supportive.
The coincidence of it all, how one thing just leads to another, it almost seems like the universe was sending a message to me. And I'd be an utter fool to ignore.