What you need to do before you retire

  If you haven’t given any thought to what your retirement will look like, now’s a great time to start.  It might not be the most fun thing to think about—not when there are vacations to plan or houses to buy—but retirement planning is a vital part of your overall financial plan. Most people dream about the day they no longer have to work.  They dream of having a leisurely…  Read more

Could a four day week help your business thrive?

The “overwork epidemic” is a serious problem world-wide.  In Japan, there’s even a word for it; to die by karōshi is to suffer a heart attack or stroke brought on by unrelenting overtime and occupational stress. In addition to the negative impact on health and well-being, working too much is bad for productivity.  According to a recent study, employees who put in more than 50 hours a week – as…  Read more

Benefits of money mindfulness

  If you’re like most people you’ve probably gone for periods of time without really thinking about how you spent your money.  Maybe you even avoided looking at your bank statement so you wouldn’t see how much money you spent and how little you saved. It’s something a lot of people do, especially nowadays when we can spend our money so easily without handing over cash.  If you’ve ever looked…  Read more

Why Bookkeeping is Crucial to Your Success

    Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business.  Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. But despite their proven importance, many business owners dread and avoid accounting tasks.  In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a…  Read more

Tips for managing contractors

  For small businesses, working with independent contractors can be a life saver. You can hand over tasks you don’t have time for – at a fraction of the cost of an employee.  Unlike staff, you won’t owe a contractor payroll taxes, unemployment insurance, health insurance, or other employee benefits. Because contractors aren’t employees, however, they do need to be managed differently.  They’re accustomed to being their own bosses, for…  Read more

Get paid first – why your salary should be your business’s first monthly expense

It’s the line item most often left out of a small company’s budget: the business owner’s salary. Let’s face it: you can always spend cash on your business. From office expenses to employee salaries to rent, every month a portion of your revenue is accounted for. But paying yourself first is a must. You need to earn a living – and paying yourself can actually help your business succeed. Here’s…  Read more

Email: The productivity killer

Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time?  It did improve communication on some levels and freed up employee time at first.  Now, however, email has become a productivity killer. Workers have to wade through hundreds of emails in their inbox each day, and many people choose to deal with email as it comes in rather than all at…  Read more

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

Want to grow your business? Our Free Resources will Help