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

Own residential property? Take note!

In an effort to level the playing field between property investors and home buyers, a new law ring-fencing rental losses looks set to come into effect on 1 April 2019. It means you’ll no longer be able to offset tax losses from your residential properties against other income (e.g. salary or wages, or business income). However, the losses will be able to be used in the future when the properties…  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

April Tax News

ACC and Student Loan rate changes from 1 April: The Student Loan Scheme annual repayment threshold increases from $19,448 to $19,760. Average ACC Work levies paid by employers and self-employed people will decrease from 72 cents to 67 cents per $100 of liable earnings. The Earners levies paid through PAYE (or invoiced directly through ACC for self-employed people) remain at $1.21 per $100 of liable earnings. Tax Working Group report…  Read more

Tips for choosing a small business bank

Finding the right bank to serve your small business needs can be a daunting task. With so many competing financial institutions to choose from, business owners simply don’t have the time for the in-depth research required to carefully weigh all the options. This guide to choosing a small business bank will help you narrow down your choices so you find the best fit for you. Small, medium, or large? You…  Read more

Alternatives to Skype for online meetings

Looking into affordable video chat and voice calling options for your small business? These four popular, user-friendly alternatives to Skype will help you connect seamlessly with staff, colleagues, and customers. Read on for a breakdown of each app’s features to decide on the best fit for you. WhatsApp With more than 1 billion users worldwide, WhatsApp is currently the most popular multi-media messaging app for mobile in existence – and…  Read more

Encouraging word of mouth

If you have any doubt that word of mouth referrals are important, consider these stats: According to Neilson, 92% of shoppers trust recommendations from friends and family more than traditional advertising 20% to 50% of consumer purchases are made because of a word of mouth recommendation 81% of buyers are influenced by their friends’ social media posts. So how can you encourage positive word of mouth for your small business?…  Read more

Surprisingly Destructive Habits You Should Avoid as an Entrepreneur

Entrepreneurs want to have their hands on every aspect of their start-up.  This is understandable, as many entrepreneurs come into their respective industries from a place of passion. Their passion will drive them to spend long nights at the office, working hard every hour of every day.  Unknown to them, this kind of attitude can actually lead to some destructive outcomes. You must avoid these habits, despite the allure of…  Read more

Five Effective Risk Control Strategies

Dealing with risk is an inherent aspect of business management.  The way you prepare for risk is the most important factor in determining the longevity of your enterprise. Businesses of all sizes have to contest with the possibility of unexpected events occurring, but it’s how you plan for and react to such scenarios that influence your handling of them. These five methods of controlling risk will provide you with the…  Read more

Do you know your break-even point?

  All business owners need to be aware of their break-even point — that is, the number of units they need to sell in order to cover their operating costs. Once you’ve reached your break-even point, it’s time to celebrate: your business is no longer in the red, and you are officially earning a profit. This article will show you how to calculate your break-even point so you can make…  Read more

What’s new in the world of tax?

Payday filing We have mentioned this in the past, but don’t forget payday filing for employers is compulsory from 1 April 2019. Please contact us if you need any help with complying with the new process and rules. No more cheques for IRD Do you send post-dated cheques for tax payments?  It’s time to go digital! From now on you’ll need to use online banking to make future-dated payments as…  Read more

10 Smart Year-End Tax Tips

1:  Fill your drawers Can you stock up on stationery, postage and courier bags before 31 March?  Claim now and save. 2:  Staff expenses If you owe employees holiday pay, bonuses, long service leave or redundancy payments, you can claim for these now — as long as they are paid within 63 days of the balance date. 3.  Can you fix it? If you’ve got any significant maintenance or repairs on the cards, do it before year-end…  Read more

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