How to Survive the Emotional and Financial Devastation of a Job Loss

  The loss of a job is one of the most devastating things a person can go through.  The results of a job loss can be long lasting and the implications go far beyond the financial.  While losing your job will most likely put your financial life at risk, the emotional consequences can be just as damaging. When you consider that most of us spend more time at our jobs…  Read more

Three innovative tips for finding employees

We all know the usual process for finding new employees. Advertise a job Read resumes Conduct a telephone interview Conduct a face-to-face interview Choose someone The steps to recruiting new talent have been the same for decades, leaving many people to think these are the only way to find new employees. There are many top-notch employees that you might not be reaching if you don’t change your strategy, however and…  Read more

New Trusts Act 2019: What you need to do

If you’re protecting your family property in a trust, there may be changes you need to make before the new Trusts Act comes into force in January 2021. The changes to the Trusts Act (the first in more than 60 years!) aim to make trust law more efficient and accessible, lower admin costs, simplify core trust principles and essential obligations for trustees, and make it easier to resolve disputes. While…  Read more

Planning the year ahead

  The turn of the year usually prompts most people to think about some business planning for the year ahead.  Here are some tips to make the planning more productive. Get your team involved Business planning works best when it’s a team effort. Involve your key staff and your advisors, such as your accountant, your mentor (if you have one), and others who can contribute meaningfully to the planning, such…  Read more

Tips for switching off during the holidays

The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. Unless you’re a small business owner.  Every small business owner knows that being away from the office can be just as stressful as being in it. Phone calls from employees dealing with a minor crisis will pull your focus from your…  Read more

Business Health Check

  Cash flow is essential at this time of year, so if chasing late payments makes you feel uncomfortable, outsource those phone calls to a trusted virtual assistant. To avoid late payments, switch up your invoicing processes.  Offer discounts to customers for early payments, or multiple payment methods, or suggest split instalments to even out cash flow throughout the year. Having a Christmas party?  How about a catered lunch at…  Read more

New GST on low-value imported goods

Overseas businesses selling goods valued at $1,000 or less online to New Zealanders are now required to register for, collect and return GST where their supplies to New Zealanders exceed (or are expected to exceed) $60,000 in a 12-month period. This is good news for local businesses who may have been at a competitive disadvantage by having to charge GST on their sales, when their foreign competitors didn’t. Want to…  Read more

Five simple ways to finish the year feeling relaxed (not rushed!)

Is less stress at the top of your Christmas list?  For the sake of your sanity and the best interests of your business, follow these steps to remain calm and collected as the year comes to a close. Outsource! Look at everything you need to do before 25 December.  Is it doable without losing the plot?  Write a list of what you can pass on to a trained virtual assistant…  Read more

Getting holiday pay right

Do you have staff taking leave over Christmas?  Are systems in place to make sure everyone gets what they’re entitled to? Even if someone else handles your payroll, you are responsible for making sure holiday pay and leave payments are handled correctly. Remember: Whether your staff work full-time, part-time, casual, on-call, or shift work, they’re entitled to any benefits that come from working on public holidays. If your employee agrees…  Read more

Six planet-friendly ways to show staff you care this Christmas

Got your staff Christmas gifts sorted?  There’s still time!  Think outside the box and be good to your people, and the planet, with these sustainable Christmas gift ideas. Gift an experience:  Why not shout your staff a chance to try something new?  Grab a voucher for a local eatery or attraction or check out www.redballoon.co.nz for inspiring experiences – from arts and entertainment to watersports and tours.  No packaging in sight. Be…  Read more

8 Common Problems New Freelancers Face

  Freelancers in all industries deal with the same problems due to the nature of their work.  Typically, freelancers are solo work-from-home contractors that manage every aspect of their business. If you’re thinking of dropping your career as an employee to begin freelancing, consider the following obstacles you will need to navigate.  Unfortunately, problems beget more problems, and a shaky foundation quickly leads to a crumbly business, and many regrets…  Read more

Avoid These 5 Costly Accounting Mistakes

  A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category.  Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success.  But lack of knowledge, frustration, and even avoidance can add up…  Read more

Tips for improving your credit score

  At some point in the life of your business, you’ll likely need to borrow capital. That’s why it’s important to build and maintain a solid credit score now – so when the time comes to apply for financing you’ll be able to prove to a lender you’re a good risk. Here’s some simple steps you can take today to raise your credit score. Know your numbers A quick online…  Read more

Is it the right time to take out a business loan?

In the lean, early years of running a business – that crucial time when most startups need capital – qualifying for a loan can be difficult. Step one is to build a solid credit rating, so a lender feels confident your company isn’t a high risk for repayment and can say “yes” to your application. Once you’ve established a positive credit score, the perfect time to take out a business…  Read more

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

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