Separating personal and business expenses

There are some things in life that go together well and others that definitely do not.  Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will…  Read more

Technology toolbox for trades

When you run your own trade business, your life involves a lot of long days being on job sites while managing projects, staff and clients.  There probably are not enough hours in the week for you to deal with all the issues that arise while keeping your customers happy, and taking time out of your schedule to manage your business is probably the last thing you want to do. Thanks…  Read more

Pros and cons of working with family and friends in business

Ever dreamed of starting a family business?  Investing in a franchise opportunity with friends? Businesses owned and operated by families can have incredible staying power.  Volkswagen, Samsung, and Nike – all family-owned companies – are among the world’s most successful, leading brands. It can be fun and rewarding to work with family and friends.  But before you hire the people you care about most, it’s wise to consider the pros…  Read more

A Guide to Profiling Your Customers

  Easily the most important first step in establishing any type of business is to define your customers so that you have the information you need to attract the right audience and generate valuable traffic to your website. Understanding your customers and what makes them tick is the key to any successful business, particularly if you are paying out large amounts of money to drive relevant traffic. One of the…  Read more

Late payment of Income Tax

Have you found yourself in a position where you are late paying an income tax payment, or unable to pay in full?  Don’t despair – we can help! Before you pay Inland Revenue, get it touch with us to discuss how you can use tax pooling to preserve your payment dates and save potential interest and penalties. For unpaid income tax, you can settle what you owe Inland Revenue by…  Read more

What are the hidden costs of buying a house?

A word to the wise if you’re shopping for a new home: the list price is only a baseline.  You’ll want to have a substantial buffer in your budget for a host of additional unseen fees. This article will help you understand all the associated costs of buying a house so you’re prepared. Purchase Fees Appraisal Before a lender will approve your mortgage you may be asked to undertake an…  Read more

Business Health Check

Get familiar with the flexible work legislation and take ideas from the Flexible Tool Kit. Take a good look at your business metrics and cash flow and if things aren’t looking as flash as you’d like, or expected, give your accountant a call for advice. Check out the Headspace app for short, easy meditations on the go. If you’re committed to gender equality and creating a positive work culture, show the world by becoming accredited…  Read more

You should be using two factor authentication

  For small business owners, the risk of data breaches and fraud is high, so taking all the necessary steps to protect your sensitive data is a must. Unfortunately for many entrepreneurs the decision to increase their company’s data protection comes too late – after they’ve been victimized by a malicious hacker. The good news is, simple and inexpensive steps can be taken to avoid being hacked.  According to a…  Read more

Late payment / short payment of Provisional Tax is now VERY COSTLY

From 1 April 2019 Inland Revenue has introduced new tax rules regarding charging of use-of-money interest (UOMI) on Provisional Taxes paid by taxpayers using the Standard Provisional Tax option. Previous Rules A taxpayer who used the standard option to calculate their Provisional Tax and whose Residual Income Tax (RIT) was less than $50,000, would only be subject to UOMI from their Terminal Tax due date (generally 7 April). If a…  Read more

Why closing the gender pay gap is good for business

On average, Kiwi women earn 9.2% less than men While the gender pay gap is smaller than a decade ago, a collection of top New Zealand business people are working hard to reduce it further.  CEOs and Chairs from companies such as IBM, Saatchi and Saatchi, PwC and Vector have joined Champions for Change. Together, they’re advocating for greater inclusion and diversity within their own organisation, sector, and the wider public…  Read more

The busy person’s guide to stress-free performance reviews

How well are your staff performing?  Do they love their job? Performance reviews, an open two-way conversation held once or twice a year, are a great way to find out.  While you’re not legally bound to do appraisals, they’re a great tool to keep your business running smoothly. Open communication lines early Whether you have five or 50 staff, communication is key when it comes to performance reviews.  Let your…  Read more

Work. Sleep. Eat. Repeat?

Find a better balance with these helpful hacks Working harder is not always smarter.  Burnout is common among business owners and staff who are pushed to the limits.  Ultimately, it’s not good for business or your personal life to be burning the candle at both ends.  But how on earth are you expected to fit it all in?! Here are some useful ways to create a crystal clear line between…  Read more

Property Sales on IRD Radar

  Buying or selling a home? You’ll now need to provide your IRD number as part of the transaction process. The change will allow IRD to know who’s flipping owner-occupier homes on a regular basis, and better enforce the existing law that ensures people pay tax on the profit. The move won’t impact the rules around who’s required to pay tax on investment property though.  Read more

Nailing Your Job Descriptions

  Too many businesses brush over their job descriptions, and then wonder why they get so many unqualified applicants.  Don’t make the same mistake. Read on to discover how you can craft descriptions that attract the best candidates, and boost your company’s reputation too! Don’t Exaggerate Companies know that attracting the best job candidates means they have to sell their company’s strengths.  But this doesn’t excuse exaggeration.  Job candidates will…  Read more

Two important reasons to have an up-to-date will

  No one really likes talking about their death, which makes updating—or even writing—a will an unpleasant experience.  Often, people put off thinking about their will for another day, assuming they have a lot of time to deal with it. Having an updated will, though, is vital for ensuring your wishes are followed after you die. It makes the process of sorting through your life much easier and less stressful…  Read more

Using Smart Goals to Achieve More

As a small business owner, you’re likely always looking for ways to achieve more.  Maybe you made a New Year’s resolution about it.  You might have resolved to make more money, find more clients, or grow your business.  It’s fantastic to have an idea of what you want to do, but how will you know whether or not you’re successful? That’s where SMART goals come in. SMART goals help you…  Read more

Three Reasons to Focus on Fantastic Customer Service

    Small business owners know that to find a loyal customer base, they have to stand out from their competitors.  One of the best, and easiest, ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business.  People think positively on companies that treat their customers and clients well.  Unfortunately, many small business owners focus a lot of attention on their…  Read more

Creating a financial plan

Depending on the current state of your finances, financial freedom might seem a long way away. For many people, financial freedom—when you don’t have to worry about how to pay the bills and your money is invested and making money for you—is a far off dream.  What they don’t understand is how close financial planning can get them to that dream. Financial planning isn’t all staring at ledgers and creating…  Read more

How to get your life back in a seven-day-a-week business

Small business owners already have a difficult and time-consuming job running their business.  If their business is open five days a week, they usually need the weekend to catch up on paperwork, pay bills and manage any tasks they didn’t get to during the week. For those with a seven-day-a-week business, there’s even less time off.  They often feel the need to be onsite any time the business is open,…  Read more

Spotting Problem Employees Ahead of Time

  Your employees are the blood of your entrepreneurial life.  No start-up will survive without a good set of people making sure that things run perfectly.  The problem for you and any other entrepreneur is making sure that the people on your team are trustworthy and reliable.  Some people have a sixth sense when it comes to reading people, but if you’re not that lucky you can simply keep an…  Read more

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