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
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
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
Hello again – welcome to the latest edition of our Weekly Digest. Read on for this week’s update. Keeping Auckland at Alert Level 2.5 Mayor Phil Goff says keeping Auckland at Alert Level 2.5 is the right decision and is asking residents to continue playing their part. Moving too early can cause further resurgence of the virus, so everyone is urged to stay the course. At Alert Level 2.5, social… Read more
Welcome back to our Weekly Digest. Read on for this week’s update. No COVID-19 cases in New Zealand! Here’s the news you’ve definitely already heard: New Zealand moved to Alert Level 1 from midnight on June 8– 101 days since the first virus diagnosis in the country. This comes after the news that the last remaining case has recovered, making us one of only nine countries in the world with… Read more
Welcome back to our Weekly Digest. Read on for this week’s update. Cashflow If you’re not having cashflow problems right now, that’s great, you’re one of the lucky ones. Plenty of businesses across the country are struggling with cashflow right now. There are a few ways to relieve the cashflow pressure from finance through to restructuring options. Don’t stick your head in the sand – we can help. Here are… Read more
With no new cases reported on Monday and Tuesday this week, it seems like New Zealand has Coronavirus under control making a move to Level 2 likely in the next week or so. Clearly that’s great news for all business owners and in this week’s digest, we’ve included a number of resources to help with navigating your business out of the dire situation we’ve all been in. No doubt there… Read more
What’s in the $3.2 billion support package? The government’s latest coronavirus support package includes further measures to try and ease the pain of the lockdown. It includes tax breaks, business advice and help for tenants and landlords. There are no in depth details available yet, so we will have to hold on, likely until 27th April. Tax loss carry-back scheme A large portion of the package is the tax loss… Read more
Over the course of a few weeks nearly everyone’s business and life has been turned upside down. It’s been a crazy time with toilet paper shortages, businesses forced to close, an overload of information (and mis-information on social media). With the recent disruption in mind, we wanted to help support you however we can. We’ve seen a number of our clients already impacted by the virus and decided to… Read more
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management is… Read more
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
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
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
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
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
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
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
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
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
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