Blogs

Capital structure is the architecture of how a business funds itself. For project-based operators in construction, EPC, solar and renewables, the right capital structure is the difference between scaling smoothly to $50M+ revenue and getting stuck at $5-15M revenue with chronic working-capital pressure. This is the practitioner's playbook for capital structure decisions across the operator lifecycle. It covers the four sources of capital, the working-capital optimisation fram

The drift you can't see until the auditor finds it Most Australian operators generating, holding or trading Australian Carbon Credit Units (ACCUs) check their Australian National Registry of Emissions Units (ANREU) holdings once a year — usually when the auditor asks for evidence at year-end. That's when they discover the registry shows 4,217 ACCUs and the general ledger shows 4,162. Or 4,300. Or, in one onboarding we've done, a 487-ACCU gap that no-one could explain. The uni