Your accountant just does your annual accounts and tax return, right? Wrong! A good accountant is in touch with you and your business throughout the financial year, checking in, finding out where they can help and offering solid, practical advice. Here are five areas of your financial management where talking regularly to your accountant is a must – and where we, as a firm, can make a real difference. 1.… Read more
As a business owner, it’s never been more important to have a good grasp on your finances. For many businesses, priorities have changed, customer behaviours have mutated and revenue streams have had to evolve and pivot in order to maintain a profitable business model. To track, monitor and drive your financial performance in this updated business environment, it’s increasingly important to have a handle on your key financial reports and… Read more
Are you spending enough time working on your business strategy? Past research from The Alternative Board found the average entrepreneur spends 68.1% of their time working ‘in’ their business (tackling day-to-day tasks, putting out fires, etc.) and only 31.9% of the time working ‘on’ their business (e.g., long-term goals, strategic planning). Revisiting and updating your business strategy is vital for a growing business – and that means making more time… Read more
Many NZ small businesses are finding late payment to be a major issue. A recent survey from payment provider, GoCardless, found that 62% of New Zealand businesses believe they’re losing money to late payments – some even reporting estimated losses of over $10,000 per month, on average. Let’s look at what late payment means for your cashflow and working capital, and what steps you can take to improve payment times… Read more
It’s great to be the boss – you can work any hours you like, right? Unfortunately, for many business owners, that means long hours, plenty of stress, and very few breaks and holidays. Gallup reported that 39% of the owners they surveyed worked over 60 hours a week. Owners often report they are unhappy with their work life balance, and after the challenges of the recent years you might find… Read more
Good news for families with little ones in early childhood education (ECE) — FamilyBoost is becoming more generous from 1 July 2025. If you’re already claiming, or thinking about it, here’s what the changes mean for you. 1. More Families Can Now Qualify Until 30 June 2025, you could only claim FamilyBoost if your household earned less than $45,000 per quarter.From 1 July 2025, that income limit jumps to $57,286… Read more
Overall business confidence in New Zealand has shown some tentative signs of improvement in 2025. But the economic reality for many small businesses remains challenging. Managing your financial health with cashflow forecasting Coping with weakened sales revenue and rising costs is a recipe for cashflow issues. With less income flowing into the business and higher expenses flowing out, the likelihood is that many Kiwi small businesses are facing a potential… Read more
According to statistics from the Commerce Commission, New Zealand businesses are charged around $1 billion a year to accept Visa and Mastercard payments – a cost that’s often passed onto the end customer through surcharges and higher product costs. The Commission has determined this cost is too high and has acted to reduce this cost for businesses by around $90 million a year. The Commission has also announced an outright… Read more
As part of Budget 2025, the Minister for Finance, Nicola Willis, introduced Investment Boost– a new way for Kiwi businesses to reduce the cost of investing in new assets and equipment. Investment Boost is expected to lift NZ GDP by 1% and wages by 1.5% over the next twenty years, with half these gains in the next five years. Let’s look at the benefits of the scheme and how it… Read more
Taking on more clients? Expanding your services? Launching into a new market? Ensure your financial foundations are solid enough to support what’s next. 1. Do you have enough cash flow for the next stage? Growth often means spending before you earn: stock up on supplies, hire more staff, or invest in new technology. Do you have the working capital to manage that? It could be time to explore funding options,… Read more
Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing. Here are five signs that you might be undercharging: Nobody ever questions your quotes – Do all your new clients accept your quotes or charges without asking any questions, requesting a breakdown or… Read more
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to understand what expenses you can and can’t claim. This means you’ll keep the right receipts… Read more
I’m sure you’ve heard about the need to work ‘on’ your business as well as working ‘in’ your business. But have you ever stopped to think what exactly you should be doing? First some practical distinctions to compare working ‘on’ and working ‘in’. With the above in mind here are the 5 most important activities you should do: Prepare a business plan and update it annually – do this in… Read more
For centuries, accounting was all about reviewing historic information – but that only told you about the past, not what was going to happen in the future. If you’re only looking back at past periods and historic numbers, this limits the insights you can achieve for your business. With a backward-looking ideology, it becomes difficult to plan, run through different scenarios or understand the path of the business going forwards.… Read more
Major changes to KiwiSaver were announced in Budget 2025. The KiwiSaver voluntary savings scheme is aimed at helping New Zealand workers save for retirement, or buy a first house. But with the rising cost of living, action was needed to make KiwiSaver fit for purpose and more fiscally sustainable as a savings scheme. How will these changes affect your employees and your small business? Let’s take a look at the… Read more
Looking around at the business landscape, it’s evident that Artificial intelligence (AI) is starting to make meaningful changes to the way the average small business works. Over a third (38%) of small businesses have used, or are considering using, AI according to new research from Small Business Britain and the global hiring platform Indeed. AI may be the new kid on the block, but what are the actual, tangible benefits? Let’s… Read more
Your business grows by attracting new clients. However, retaining existing customers may cost less and yield greater returns. The Harvard Business Review found that acquiring a new customer may cost five to 25 times more than keeping an existing customer, and that increased customer retention can enhance profitability. Develop a robust retention strategy with strong client relationships: – Identify common ground – Ask questions, listen and build rapport – Make… Read more
It can be lonely at the top when you’re running your own business. As the owner manager, the buck stops with you and that can result in all the pressures of financial management, people management, strategy and business performance ending on your shoulders. To ease this pressure, it’s helpful to have a business coach. A coach can look at your business objectively as an outsider, will act as a… Read more
A few weeks ago, I graduated with an Executive Masters of Business Administration (EMBA) from Massey University. I had the amazing opportunity to visit Europe gaining first hand insights into international business operations in Vienna and Belgium. Balancing full-time work with the EMBA’s rigorous demands was no small feat. Each 15 credit paper required at least 150 hours of study encompassing extensive reading, collaborative assignments and practical applications. It not… Read more
On 22 May 2025 the Coalition Government released its second budget, dubbed the fiscally conservative “no BS budget”. Below are the key takeaways: Investment boost A new tax incentive which allows businesses acquiring productive assets to immediately deduct 20% of the cost of a depreciable asset in the year of acquisition, in addition to normal depreciation. This means businesses will face a lower tax bill in the year of… Read more