Blog

For a business to thrive and grow, it essentially needs two things: a strategic plan and an ability to continually find new customers and tap into promising markets. Here’s how you can do that. The untapped potential in existing markets Start by re-evaluating your existing customer base. Profiling them will help you to more accurately define who your target consumers are. Explore different distribution channels that could be more effective…  Read more

As a business owner, you often find yourself pulled in different directions by competing responsibilities. It can feel daunting to classify tasks and tackle the most time-consuming ones first. But why is it so hard for us to start – or even finish – seemingly insignificant tasks? Why do these tiny tasks become the bane of our existence, tempting us into procrastination limbo? Let’s explore why we get stuck on…  Read more

When you’re ready to take your business to the next level, you might start thinking about “scaling”. No, it’s not just a fancy term for growth, it’s about doing more with less. Scaling is about increasing your revenue without needing to proportionately increase your resources—pretty cool, right? It’s like sending an email: whether you send it to 100 people or 100,000, your effort is the same. The trick to scaling…  Read more

So, we’re officially in the thick of a cost of living crisis. This presents a challenge for entrepreneurs and is a nerve-wracking time for many small business owners. If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your staff, you’re not alone. It’s likely you’ve already looked at where you can cut costs, but it seems like an impossible task when suppliers are…  Read more

The new year is a new beginning. If you are a business owner, this is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a business plan to achieve some more mundane (but equally important) projects.…  Read more

Inflation – it’s a word that’s been on everyone’s lips recently. Rates are on the rise, and our small business community is feeling it the most. Increased supply costs, a lack of workforce, and dwindling profits are among the challenges faced.  Let’s demystify inflation and delve into its impact on small businesses. Grasping Inflation In essence, inflation is the uptick in the cost of goods and services. Whether it’s a…  Read more

While some businesses shut completely over the summer break, many stay open. Businesses have the difficult task of balancing their rotas to keep things running smoothly. If you’re maintaining a skeleton staff over Christmas, offer incentives and ensure staff get the chance to take turns to cover shifts, so everyone gets some time off to see their loved ones. If you’re taking on extra staff, make sure you follow sound…  Read more

Budgeting is about estimating your revenues, projecting your expenses and detailing the allocation of funds, so you stick to (and don’t overrun) your agreed budget ceiling. How does budgeting affect your business? Having a clear, agreed budget gives you a structured framework for your financial decision-making. It’s a practical way to control your costs, monitor performance and adapt your strategic and financial decisions to meet changing economic conditions. Using budgeting…  Read more

We have been using email software called Karbon for a while and they have some great features to help us keep your details safe. One of those features is the Karbon Client Portal and Magic Links. We’ll be using these from now on for our correspondence with clients. This platform will facilitate the sending, receiving, and requesting of documents and information in a more secure manner. When we request information…  Read more

Your team have a direct impact on the overall experience the business provides to its customers. A study by Glassdoor Economic Research reported that public companies named in a ‘Best Places to Work’ list in 2009 outperformed the Standard and Poor’s 500 by 115% over the next five years. It suggests a culture that engages and motivates employees helps the bottom line. Others have looked at business culture and long-term…  Read more

Cyber Smart Week is here! This Cyber Smart Week (30 October – 5 November), we’re supporting CERT NZ to highlight the importance of staying secure online and showing New Zealanders what’s at stake when they don’t get their online security right. CERT NZ has found that despite being aware of cyber security risks, New Zealanders aren’t necessarily taking the simple actions that can protect them. For this year’s Cyber Smart…  Read more

Thinking of applying for a home loan? Here are some tips to help you prepare an application that’s more likely to be approved. You may need to go on a financial diet before you apply – When you apply for a mortgage, a bank will typically analyse the statements for all your accounts for the past three months. Some types of spending will dent your chance of being approved, such…  Read more

Whether you and your staff are sitting or standing at work, there are risks to physical and mental wellbeing that can be easily avoided. We have some top tips from Erin Holland at Active+, an experienced physiotherapist in occupational health. What are the key health and safety risks when you’re working in an office? You’re often sitting for large chunks of time in an office so the primary risk is…  Read more

Running a busy and successful business means you often don’t have the time to step back and work ON the business. This can be a challenge if your aim is to grow and scale the company. As experienced professional business advisers, we know the value of taking the time to ask yourself some pertinent questions. Holding yourself and the business to account is something we can help with. And there’s…  Read more

  Lack of energy is a motivation crusher for you and those around you. It’s unhealthy too. Slumped shoulders, bad posture, and inattention can all lead to workplace injury. And lack of energy shows up in office output or, rather, lack of output. Everyone’s different but it can help to run interference on your daily routine. Here are some simple ideas: Work out. Some people swear by a dawn session at…  Read more

When you start employing staff, you need to register with Inland Revenue as an employer. However, if your worker invoices you for the work — with GST, if they are registered for GST — then you won’t be required to register as an employer and account for PAYE. This means you pay them as a contractor rather than an employee. However, you need to be sure that your worker is…  Read more

Founding, building and growing your own small business is a hugely rewarding experience for many entrepreneurs. But the road ahead isn’t always smooth. There are common challenges that crop up and ongoing issues that need to be factored into your business plan, your strategy and your own personal thinking. So, what can you do to beat these challenges and make the journey as frictionless as possible?   5 proactive ways…  Read more

Join us for our next Xero training event. With Xero, you can save time, reduce your stress levels, and get paid faster. You’ll gain valuable insight into how your business is performing and be able to project your cashflow, enabling you to make better informed decisions. We’ll be looking at: Understanding and using the new reports to your advantage Creating and editing budgets Hubdoc – efficient online storage of documents…  Read more

How will the latest Budget affect your business and your household? Here are some of the changes most likely to have an impact on Kiwi business owners. Higher trustee tax rate The trustee tax rate is now aligned with the tax rate for the highest income bracket, at 39%, up from its previous rate of 33%. Those clients who have family trusts may be unhappy to learn about the increase…  Read more

Some taxpayers are subject to ‘use of money interest’ when they don’t pay their tax, pay late or underpay. When do you have to pay use of money interest to Inland Revenue? Taxpayers that must pay use of money interest are those who: have under-estimated their provisional tax have earned income which has either not been taxed, or has not had enough tax deducted from it, and the end of…  Read more