Tax and the Budget

Further developments with digital services tax and collection of the International Visitor Levy were announced and the Government remains committed to modernising and simplifying the tax system. Pre-Budget The major announcement pre-Budget was that Capital Gains Tax is now off the table and that has pretty much overshadowed any tax announcement since. The Government also announced two specific pre-Budget tax measures: GST on telecommunications, and repeal of racing totaliser duty…  Read more

Livestock Herd Scheme Values for 2019

  The IRD have recently announced this year’s livestock herd scheme values and we think this is a great opportunity to update you on the latest movements. The herd scheme values are the national average market values as determined by a process involving a review of the livestock market as at 30 April. Dairy Cattle All classes of Dairy cattle have dropped in value compared to the previous year, whilst…  Read more

Conducting R&D? Cash in!

  Are you conducting research and development on home turf?  You could be eligible for a tax credit of 15% on eligible R&D expenditure. The Government have introduced legislation bringing in a new R&D tax credit effective from the 2019/20 income tax year (1 April 2019 for most taxpayers) to encourage more Kiwi businesses to invest in new or improved processes, services or goods.  It means innovative companies can receive…  Read more

6 Ways the NZBN will save you time and money

Whatever the size or shape of your business, the New Zealand Business Number (NZBN) will make doing business easier, faster and more professional. Here’s how: Search the NZBN Register and you’ll have details for all the businesses you deal with at your fingertips. Know your suppliers’ NZBNs and process and pay their accounts more quickly. Using your NZBN means you won’t have to repeat your key details to customers and…  Read more

NZ says goodbye to millions of single-use plastic bags

It’s taken 17 years to follow in the footsteps of Bangladesh, the first country to ban single-use plastic bags, but we’re finally there! From 1 July, single-use plastic bags can’t be sold or given away in New Zealand. It’s all part of the Government’s programme to reduce waste and build the foundations for our transition to a ‘circular economy’ where eventually waste will be designed out of the system. So,…  Read more

Keen to export: know where to start?

  Here’s what you need to think about before hitting the (overseas) ground running. What’s your value proposition?  Having a short statement outlining what is unique about your product is not only a powerful selling tool, it helps you work out whether there’s even an offshore market for it. Which markets will return the most profit?  Unsure where to export?  Ask yourself these questions:  Can you enter the market?  Is it…  Read more

Three ways to speed up invoicing

Everyone likes making money, especially small business owners.  Invoicing, however, is typically one of the tasks that small business owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent. You tell yourself you’ll get around to it tomorrow, but tomorrow becomes next week, next week becomes next month, and suddenly you realise your client…  Read more

Smart money tips for business owners

Small business owners know how important it is to save money.  They know that one day that dollar could come in handy, especially during slower times. Saving money is definitely important, but there are also things small business owners can – and should – spend their money on today.  It might seem counterproductive to spend money when you want to put it in the bank – and make no mistake,…  Read more

Four easy ways to make your business environmentally friendly

  These days, there’s an increasing focus on reducing our environmental impact.  Many businesses offer recycling programs and even have composting, while some companies encourage car pooling, offer parking spaces for hybrid vehicles, or move their operations into environmentally friendly buildings. There are many things you can do as a business owner to make your business more environmentally friendly, but it’s important to take steps that represent permanent change rather…  Read more

How to set an hourly rate for casual workers

For many small business owners, hiring workers on a flexible basis is ideal – especially if paying regular salaries isn’t in the budget and/or the workload is variable. Depending on where you live and operate your business, you need to be aware of the rules when it comes to paying your casual workers. These guidelines can help you get started with understanding how to calculate a fair hourly rate for…  Read more

What are the warning signs of employee fraud?

Billing schemes.  Skimming.  Cheque tampering.  Employee fraud is a real risk for entrepreneurs of fewer than 100 employees. In fact, according to the Association of Certified Fraud Examiners 30% of fraud cases take place in small businesses. This article will help you identify the most common signs of fraudulent activity before an unscrupulous employee destroys your business. Identifying high risk employees When an employee has something to hide, their conduct…  Read more

4 Tips for Getting Your Business Through Tough Times

If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point.  As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are four tips for getting your business through difficult periods so you can look forward to…  Read more

Signs it’s time to upgrade systems

Most small business owners can’t afford to think small.  They always need to keep their mind on growth strategies to help them achieve long-term profitability. But becoming profitable in the first place often requires business owners to work long hours on a shoe-string budget.  They don’t always have time to implement systems that will support them when they’re ready to scale. It’s not uncommon for entrepreneurs to use free or…  Read more

Efficient business systems really pay off

Too many businesses fall over because the owner has not established efficient business systems.  This typically happens because the business owner is so caught up in the day-to day running of the business that the fundamentals of good business management get forgotten.  Often too it must be said that the owner simply doesn’t like bookkeeping or other administrative tasks, so these get put on the back burner. The symptoms are…  Read more

7 Ways to Improve Workplace Productivity

  The success of any business, large or small, depends largely on nurturing an efficient, productive workplace.  While improving employee productivity should be always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done.  Below are some of the most effective methods of managing a productive, happy workplace while increasing output. Establish Accountability Productivity depends on every employee understanding that…  Read more

3 easy and inexpensive ways to look more professional when you’re starting out

For bootstrapping young businesses, making a professional first impression as you build your brand is key. Although hiring a branding expert may be too large an expense in the early days, you can still help your business stand out in the best possible way without breaking the bank. Just follow these simple marketing moves that will help people to know, like, and trust you. 1. Build credibility with your own…  Read more

How to create good habits in business

If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your business. Scheduling time to attend to these business activities on…  Read more

What is your business doing to attract the next generation?

  Gen Z (born after 1995) are tech-savvy, entrepreneurial, out-of-the-box thinkers – people you want on your team. Here are four ways to attract and retain New Zealand’s next generation of workers. 1. Tinker with your tech Gen Z live and breathe technology – they don’t know life without it. You’ll need to enable your people to collaborate and communicate in the cloud and on any device as well as…  Read more

Today’s apprentice is tomorrow’s foreman

Why apprenticeships work so well With New Zealand’s construction industry going ballistic, a lot of construction companies are looking to hire new staff. Do they stick with their subbies, bring in qualified builders or take on an apprentice? Stefan Cammell, owner of Cammell Projects in Queenstown believes it’s an employer’s responsibility to upskill the next generation and take on apprentices. “Taking on an apprentice is an investment in the future of your…  Read more

Facebook: Why your business needs it (and how to use it!)

  Are your ideal customers adults?  Then your business needs to be on Facebook because that’s where their eyeballs are. Time-poor or don’t have a clue where to start?  Get some answers with these six most frequently asked questions. 85% of Kiwi adults are on Facebook and using it for at least 30-minutes every day 1. Why should my business be on Facebook? Facebook is the most cost effective way…  Read more

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