5 Most Common Accounting Mistakes That Could Hurt Your Business

Many small business owners tend to handle their own accounting and bookkeeping, especially when they’ve just started out. However, keeping track of the finance-side of the business– everything from income to expenses to tax compliance– can be overwhelming. Mistakes can happen quite easily and can have costly consequences to your business.  Below are five of the most common DIY accounting errors that you should avoid. 1.  Unorganised Records It takes excellent…  Read more

COVID-19 Business Update – 20 November 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for the latest updates and some ideas that will help us all move forward. Government Fast Tracks $2.9 Million for NZ Biotech Firm to Build Vaccine Lab The Ministry of Business, Innovation & Employment has approved a $2.9 million payment for Biocell to upgrade its research facility in Papatoetoe, Auckland to manufacture a potential COVID-19 vaccine. …  Read more

7 Practical Tips to Trim Your Overhead Expenses

Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality.  Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated…  Read more

COVID-19 Business Update – 11 November 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for the latest updates and some ideas that will help us all move forward. NZ Set To Buy More of Pfizer’s Vaccine Minister of Research, Science and Innovation Megan Woods said that the government is continuing talks to purchase more of Pfizer’s vaccine after news that it is 90% effective.  The vaccine’s trial involving more than…  Read more

8 things your invoice needs in order to get paid faster

So you’ve set up your business and sold some products and services.  Now, you have to send an invoice to collect your payment.  But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you should include.  So here is a step-by-step guide on what to include on your invoices.…  Read more

COVID-19 Business Update – 6 November 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for the latest updates and some ideas that will help us all move forward. Investment in NZ Startups Remains Stable Despite Lockdowns Investment in New Zealand startups has remained resilient despite the business disruption brought by COVID-19 restrictions, according to the latest Startup Investment report from PwC and the Angel Association.  Deep tech and SaaS (software…  Read more

Five Ways to Bring in More Cash for Your Business

  Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash. Here are five ways you might consider to improve your cash inflow: 1. Evaluate your current company assets. Take a look at your assets, both fixed and human. Could you make slight pivots to create a new form of income? For instance, if you run a…  Read more

COVID-19 Business Update – 30 October 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for the latest updates and some ideas that will help us all move forward. NZ Exports Holding Up Despite COVID-19 Crisis Latest figures by Stats NZ show a decline of $5.9 billion in imports and a $1.2 billion increase in exports for September 2020 compared to the same period last year.  This resulted in an annual…  Read more

4 Payment Options Your Small Business Should Consider

When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process.  As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: 1. Credit and debit…  Read more

COVID-19 Business Update – 23 October 2020

Hello again – welcome to the latest edition of our Weekly Digest. Lately, economists have been talking about a “K-shaped” recovery from the current recession. As this article in The Conversation explains, this kind of recovery happens when different parts of the economy recover at different rates.  White-collar workers who can more easily work remotely may have an easier and faster path to recovery than blue-collar and service workers who…  Read more

The worst business advice to follow

When you’re a small business owner, you get used to people giving you advice.  Sometimes you seek out their insights while other times they share whether you want them to or not.  While the advice is almost always well-intended, it’s not always good.  In fact, sometimes it’s downright awful. Here are some tips that well-meaning people give to small business owners that definitely should not be followed. 1. Never turn…  Read more

COVID-19 Business Update – 16 October 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for this week’s update. Survey: NZ Businesses Prepared to Innovate In an Asia Pacific survey by Microsoft, about a quarter of 420 New Zealand businesses were leaders in promoting innovation, significantly more than the Asia Pacific average of 8%. It was also found that nearly two-thirds of New Zealand organisations were speeding up the adoption of…  Read more

Pandemic Preparedness Tips for Your Business

The COVID-19 pandemic has caught most of us off guard.  Who would’ve thought that the world would spend the year battling a virus? This unprecedented global crisis is a reminder that these business threats are very real and acts as a wake-up call for business leaders.  Even if the scenario may seem far-fetched, it pays to prepare for the worst.  When a pandemic hits, businesses play a crucial role in…  Read more

COVID-19 Business Update – 9 October 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for this week’s update. Auckland Moved to Alert Level 1 Auckland moved to Alert Level 1 at 11.59pm on Wednesday night. Under level 1, Aucklanders will now be able to go about life as usual, which is great news as it will likely mean business activity will pick up.  However, it is important to note that…  Read more

How cash flow forecasts can help you

Managing cash flow is a vital part of running a successful business.  Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank…  Read more

COVID-19 Business Update – 2 October 2020

Reminder: Put Your QR Codes Back Up The rest of New Zealand, excluding Auckland, moved to Alert Level 1 on September 21.  This means most temporary restrictions and requirements for businesses were eased. However, after receiving almost 200 complaints about missing QR codes and lack of physical distancing through WorkSafe, businesses are reminded that displaying NZ Covid Tracer app QR codes is required at all alert levels. If you want…  Read more

A Guide to Business Recovery in the pandemic world

As you know, the COVID-19 pandemic is not just a public health issue, it’s also caused lockdowns and financial worries on a global scale. Small businesses are not strangers to the impacts of the pandemic.  In a survey by the International Trade Centre (ITC) among 1,200 businesses in 109 countries between 20 April and 4 May, the pandemic has strongly affected 60% of the businesses.  The results of the survey…  Read more

COVID-19 Business Update – 25 September 2020

Hello again – welcome to the latest edition of our Weekly Digest.  Read on for this week’s update. NZ Begins Lifting COVID-19 Restrictions From Monday, all remaining COVID-19 restrictions have been lifted except in Auckland, which will continue to have some restrictions for at least another 16 days.  Under the plan, the limit on social gatherings in the largest city will be increased from 10 to 100 on Wednesday, and…  Read more

Easy ways to build an online business

More and more people are leaving their office jobs and setting up an online business these days, especially because of COVID-19.  Running an online business offers a way for you to work from home and be your own boss.  It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll…  Read more

COVID-19 Business Update – 18 September 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for this week’s update. Restrictions to be Lifted in Most of Country on Sep 21 COVID-19 restrictions will be lifted across the country on September 21, except in Auckland, which has been the centre of the second wave of infections. However, cabinet will review the current rules for Auckland at its September 21 meeting, potentially increasing…  Read more

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