Is the 4-Day Work Week for You? Pros, Cons and Tips

When was the last time you felt that you had a week’s worth of energy to pour into just four days of work? As COVID-19 has reshaped our work-life balance and continues to redefine what is essential in our professional world, the concept of a shorter workweek is gaining traction. With proposed legislation in various states and countries, and the ongoing conversation among professionals, it’s evident that the discussion around…  Read more

Have you been pwned?

I have just returned from a Accountants and Tax Agents Institute of NZ (ATAINZ) Workshop in Auckland, where members of the ATAINZ congregated for a day of learning and community connection. Given I am a people person, it was lovely to catching up with others in person and really being able to connect on a level you just cant get over the internet. It was great to have our ethical…  Read more

How rising interest rates impact small businesses and ways to mitigate those effects

In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that bears significant implications for small businesses is rising interest rates. Understanding how this impacts your business and identifying solutions to counteract these effects can be key to sustaining and growing your business. The implications of rising interest rates for small businesses Interest rates have a ripple…  Read more

Are you feeling the squeeze?

It seems like the perfect storm has hit, with rising interest rates and inflation soaring. As a result, households are dealing with higher borrowing costs, leaving them with less disposable income to spend. And that means businesses are feeling the pinch. To make matters worse, staff shortages are adding to the pressure. Retail sales decline affects all businesses. Almost every sector is experiencing a downturn. Building companies, property companies, retailers,…  Read more

Cybersecurity Best Practices for Small and Medium-Sized Businesses

In our digital age, cybersecurity is a crucial aspect of running any business. Cybersecurity breaches could lead to not only data theft but also reputational and financial loss. Hence, it’s imperative to establish robust cybersecurity measures to protect your business and customers’ sensitive information. Here are some cybersecurity practices that could help safeguard your online presence. 1. Invest in Security Software: One of the fundamental cybersecurity practices for small and…  Read more

Mastering the Basics – A guide to accounting principles for small business owners

As a small business owner, you know that managing your finances is crucial to the success of your business. But with so many accounting principles and practices out there, it can be challenging to know where to start or to understand what they mean. That’s where we come in! In this guide, we’ll break down the essential accounting principles that every small business owner should know. We’ll discuss how these…  Read more

Provisional Tax – What is that all about?

Provisional tax is an important aspect of managing a business’s finances and tax obligations. It allows businesses to make progress payments on their upcoming income tax, based on their expected profits for the following year. This can help businesses manage their cash flow and avoid the pressure of paying a lump sum at the end of the year. For new businesses, the first-year provisional tax payment can be challenging. However,…  Read more

Late Opt Out Requests from Kiwisaver

Your employees who choose to opt into KiwiSaver cannot opt out. Only new employees you are automatically enrolled in KiwiSaver can opt out. Requests to be opted out after 8 weeks (57 days) are LATE OPT OUT REQUESTS. How your employee requests a late opt-out Employees will need to send their KiwiSaver late opt-out request to Inland Revenue. Approving a late opt-out request Inland Revenue must approve the late opt-out…  Read more

End of Financial Year – 31 March 2023 – What do you need to consider?

With the end of the financial year approaching, it’s a good time to make sure everything is in order and ready for balance date. Here’s a few things to consider and/or action for the end of year the financial year. Write off Bad Debts Do you have debtors that you’ve taken all reasonable steps to recover a debt, yet your customer still hasn’t paid you? You might be able to…  Read more

What is a balance sheet and how does it help me manage my finances?

You’ve likely heard the phrase “in the black” or “in the red”.   Your balance sheet is the tool that shows you whether your business is indeed “in the black”, or on the right side of the ledger, and is therefore the most important report to read and understand.   It is a snapshot in time of your business up to the point of the date of the report, where a profit…  Read more

Why would you choose your level of ACC cover?

ACC is one of the most confused topics we discuss in our client meetings.  So lets see if you can help clarify what its all about. When you are receiving wages and having PAYE deducted, there is a portion of this that relates to ACC Earner Levy cover – that is the cover for all non work related injuries, and everyone getting a wage pays this portion within their IR…  Read more

Disaster Recovery Grants Now Open

Applications for Cyclone Gabrielle business recovery grants are now open says David Templeton from Northland Inc. CYCLONE RECOVERY FOR BUSINESSES If you own a business in Taitokerau Northland and your cashflow has been affected as a result of Cyclone Gabrielle, you can apply for support to help you recover. Grants of between $5,000 – $40,000 are available to businesses in the Taitokerau Northland region who have been impacted by Cyclone…  Read more

7 tips to help your small business adjust for inflation

Annual inflation remains stubbornly high, at 7.2 percent. The main drivers are household costs, such as rent and maintenance, higher food prices, and building costs. Inflation has really ballooned worldwide, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. It’s undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your…  Read more

Time Blocking vs Time Boxing, other techniques, and how it all fits together

In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time…  Read more

Prepare your inventory for the holiday season

The holiday season is without a doubt the busiest time of year for many retail businesses. It’s a great opportunity to showcase all that you have to offer and bring in new products to see how they do. But, the excitement probably wears off when you think about managing all that inventory. Don’t despair. With a bit of preparation you can manage your inventory during the holiday season, and glide…  Read more

Fair Pay Agreements came into effect 1 December 2022

The Fair Pay Agreements Act 2022 (FPA Act) has been passed, and will come into effect quickly, on 1 December 2022. The new Act is the biggest change to employment law since the Employment Relations Act 2000. What is a fair pay agreement? A fair pay agreement is an agreement that applies to all workers across entire industries or occupations. It will provide minimum terms and conditions of employment for…  Read more

8 tips for staying in budget this holiday season

The holidays are officially upon us, and chances are you’re starting to feel a bit spendy. It’s only natural. We want to spread that feeling of good cheer around by buying presents for those we love. There’s nothing wrong with that, but keep your pocketbook in mind. Nothing kills the joy of the season like a giant credit card bill come January. Keep your spending in check by following these…  Read more

Tips to increase engagement during the holidays

The holiday season is typically busy, whether you run a retail business or a service-based one. If you’re not helping shoppers, you’re helping your clients fit in their appointments before year end. There’s a lot to do and the time passes quickly. Take this opportunity to show clients and customers how much you appreciate their business. After all, it’s less expensive to retain existing clients than it is to attract…  Read more

Business tips for the end of the year

The end of the year tends to be a bit chaotic for business owners, but it’s actually a good time to get some extra housekeeping done for your business. Read on for some tips to help you finish the year neatly and feel prepared to face the new year. Review your goals and KPIs A lot has likely happened for your business over the course of the previous 12 months.…  Read more

Need support with your business? We Can Help You