Fact file
Dominic WoolrychChief executive and part owner of online legal platform Lawpath; age 33; lives in Sydney’s Kings Cross.
Formerly a corporate lawyer at MinterEllison. First job was on a whale-watching boat in Sydney; wanted to be a boat captain. Also owns RideShare Training, an online business that trains Uber drivers. Started playing the stockmarket in high school by entering ASX competitions. Pastimes are any thing to do with the water, including sailing and windsurfing.
He says more people than ever are logging on for advice about thorny issues that now confront them. The uptick is even giving him confidence to continue pushing growth plans.
Moves are afoot to launch the platform’s first TV and radio marketing campaign mid-year in a bid to boost subscribers further. There are also plans to raise capital and expand into Asia.
“The virus will have an effect because small businesses are struggling,” says Woolrych.
“The majority of our clients are small businesses. That said, in the last four days we have had the largest revenues in our history. That’s because people are looking for alternatives to traditional legal services. They can’t go and visit their lawyer. They can’t go and visit their accountant. They are, therefore, looking for virtual or online options, or they are looking for more affordable alternatives because they are pinching the pennies a little. And people are setting up plans with us, getting ready for the tough times ahead.”
The core concern is downsizing, including cutting workers.
Esta historia es de la edición May 2020 de Money Magazine Australia.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 2020 de Money Magazine Australia.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
