In the dynamic world of the hospitality industry, success is not just about providing excellent service and memorable experiences; it also hinges significantly on effective financial management. From ...
As businesses gear up for another year of financial operations, understanding the tax year dates in New Zealand is crucial for proper planning and compliance. In this guide, we'll delve into the key ...
In today's world, e-commerce businesses have become the natural choice for many entrepreneurs. While setting up an online business is easy, keeping track of your inventory requires some special tools ...
Introduction In the highly competitive hospitality industry, cost control is a critical factor that can make or break a business. For hotels and restaurants, effective cost control strategies not ...
In the fast-paced world of business, making the most of your resources is crucial. Recent research highlights that a significant number of businesses (55%) are missing out on potential savings when ...
New Zealand’s e-commerce market is burgeoning. With an increase in online shopping trends, businesses are seeking ways to optimize their operations. However, attracting sales is just one part of the ...
Economic recessions can be daunting for businesses, but they also present opportunities for growth and innovation. For Shopify store owners, adapting to the changing economic landscape is essential. ...
Financial fitness—like any form of fitness—requires discipline and clear-sighted goals. When you set your sights on improving your health, you get a personal trainer to help you determine how to ...
Cryptocurrencies have emerged as a fascinating asset class in the world of finance. They've captured the attention of investors worldwide, including here in New Zealand, with their potential for high ...
In the dynamic world of eCommerce, understanding your business's financial health is crucial. Profit, the bottom line of every business operation, isn't just about revenue minus costs. It involves a ...
Selling an eCommerce business can be a lucrative opportunity, but it can also be a complex and challenging process. It requires careful planning, evaluation, and preparation. In this guide, we will ...
For e-commerce businesses, cash flow forecasting is particularly important. Online businesses often have unique cash flow challenges, such as fluctuations in sales volume and unpredictable expenses ...
With the number of new technologies growing daily and customers becoming more demanding, small businesses face fierce competition. How can your small business ensure its lasting viability in such a ...
In the fast-paced and competitive hospitality industry, businesses must adapt to ever-changing customer demands and market conditions. Proper accounting and accurate financial forecasting are ...
As an e-commerce business owner, accounting can sometimes feel overwhelming, but it's essential to keep track of your finances to ensure the success of your business. Proper accounting can help you ...
In the competitive hospitality industry, business owners must continuously innovate and optimize their operations to provide exceptional guest experiences. One tool that can help you achieve this is ...
Have you heard of or used ChatGPT before? It's an amazing AI-powered tool that can help you with a wide range of tasks. But did you know that there are also plenty of other AI tools that can help ...
The accounting industry has changed drastically over the last decade, due in large part to advances in technology. From cloud-based systems and automation to big data analytics, modern accounting ...
Bookkeeping and accounting are two separate processes, but they are often confused. In this article, we will be exploring the differences between bookkeeping and accounting to help you better ...
As businesses adopt modern technologies, the role of accountants will evolve. Here are three trends that finance professionals should be aware of in 2023.
Accounting and finance teams have their work cut out for them in 2023. With rapidly changing tax policies, regulatory changes, ESG requirements, and accounting standards update - businesses need to ...
As we look ahead to 2023, the world of business is changing rapidly. With new technologies, regulations, and standards being implemented on a regular basis, it's essential for businesses to stay ...
Are you a small business owner looking for ways to manage your finances in 2023? In this article, we’ll provide 7 essential bookkeeping and accounting tips designed to help you keep track of ...
Business owners have a lot to worry about, but accounting should not be one of them. By partnering with the right accounting firm, you can make doing business easy. But, if you partner with the wrong ...
When I built my first store, Bucket Hats NZ, in July 2022, I had zero retail experience. I’m a copywriter, so I knew how to market a product and build a brand. And I’d been writing content for the ...
When I built my first store, Bucket Hats NZ, in July 2022, I had zero retail experience. I’m a copywriter, so I knew how to market a product and build a brand. And I’d been writing content for the ...
Rental income is a type of passive income generated from real estate investments. It comes from renting out properties, such as apartments, homes, offices, and retail spaces, to tenants. Generally, ...
Rental income is a type of passive income generated from real estate investments. It comes from renting out properties, such as apartments, homes, offices, and retail spaces, to tenants. Generally, ...
In the ever-evolving world of small business, payroll management is one of the most important aspects to get right. Today’s businesses need modern solutions that are both compliant and affordable to ...
As the world changes, small businesses must find new ways to reach their target audiences. And one of the most effective ways to do this is through a social media marketing strategy. Social media ...
Have you ever wondered why content marketing is so important? If you’re like most people, you probably already know that content is a key component of any successful marketing strategy. But you may ...
Do you want to create a website for your business? Building a site requires proper planning and consideration when setting up an online store or launching a blogging platform. You have to ensure that ...
Have you ever wondered why people buy the things they do? Understanding consumer behavior is an important part of marketing and business strategy. It’s essential to know why people make the decisions ...
Have you ever been frustrated when trying to communicate effectively with a client? Effective communication is essential for successful client relationships, whether through email, phone calls, or ...
Have you ever wondered how small businesses find their target markets and create successful marketing campaigns? To start, it’s important to identify who your ideal customers are. Defining a target ...
As the holiday season approaches, businesses need to start preparing for the closing period. This is a busy time of year, and there are several things that businesses need to do in order to ensure ...
Ever thought of starting your own business but are not sure where to start? Starting a small-scale business can be an exciting and rewarding venture. New Zealanders are increasingly turning to ...
Businesses in New Zealand rely on strong relationships with other businesses in order to succeed. Building and maintaining good business relationships can be difficult, but doing so is essential for ...
In today's competitive business environment, companies must work to build strong relationships with their customers. Customer Relationship Marketing (CRM) is a strategy that focuses on developing and ...
Businesses here in New Zealand face the same challenges as businesses in other countries, such as meeting customer demands and staying ahead of the competition. Fortunately, there are some tried and ...
A well-managed customer relations program ensures that customers feel heard and respected. This can help to build loyalty and trust between your business and its customers, leading to repeat ...
No matter where your business is located, how you communicate with those involved - customers, vendors, and other individuals - is vital to its achievement. This is especially true in New Zealand, ...
It's no secret that relationships are instrumental to success in business. Building strong and lasting professional relationships can help you get ahead, increase your chances of career advancement, ...
Have you ever thought about what it would be like to work for yourself? If you have, then you're not alone. In fact, a survey by Junior Achievement USA found that 60% of teenagers are considering ...
Have you ever gone to buy something online and discovered the checkout process is more complicated than trying to put together some flat pack furniture in the dark, blindfolded?
Running out of stock can cost your business dearly in terms of lost sales and customer trust, but managing inventory effectively can be a real challenge- especially for small businesses. That's why ...
ECommerce is big business. You can run an eCommerce business from home, and you don’t necessarily need a tonne of experience or costly equipment or machinery to get started. But you do still need a ...
It is no secret that the value of cryptocurrency can fluctuate markedly. When it’s on the up, everyone is smiling. However, when crypto values start to decline, you are forgiven for feeling a little ...
ECommerce is great. The overheads are lower, the customer base can be bigger, and you can literally run things from your bedroom if you want to. What's not to love?
If you have any cryptocurrency investments, you’ve likely been watching the markets closely recently and noticing plenty of movement. Cryptocurrency has always been a volatile investment with huge ...
Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in ...
Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer ...
When the pandemic began, it was also the start of a significant change in how people work. In 2020, the Office for National Statistics confirmed 25. 9% of the UK population were working from home. ...
Cryptocurrency might be decentralised and not rely on a bank or big financial institution, but that doesn't let you off the hook when it comes to paying tax.
The end of the financial year has come and gone. Now it’s time to get your finances in order and start planning for the financial year ahead. But, how can you do that practically when times are still ...
Expanding into the UK market from New Zealand can seem daunting in 2022. The new post-Brexit rules and regulations have no doubt been a deterrent for many businesses looking to sell to UK customers. ...
Cryptocurrency has been around for more than a decade. But, it largely remained in the realm of technology experts and experimental entrepreneurs. More recently, it has become a viable investment ...
The end of the financial year (EOFY) is nearly here! That means it’s time to get your super exciting paperwork in order. Yea, yea, we know. Paperwork is not exactly something that makes you jump for ...
Unless you've been living under a rock recently, you've probably heard of cryptocurrency - the latest big thing in money. And with the right strategy, it is an increasingly viable method of ...
It's ok to admit that the end of the financial year isn't your favourite date on the calendar. And it’s also OK to admit that you might be putting off getting everything sorted out. But, trust us, ...
Every business owner faces the same problem – balancing the tasks that earn you revenue today with the tasks that could earn you revenue tomorrow. How do you install enough heat pumps this week while ...
Are you happy with the number of sales coming through your Shopify website? Is it performing as you had hoped, or are have things fizzled a little slower than you expected? Even if things are going ...
When the new year begins, many business owners firmly have their focus on the future and get stuck into planning for the next 12 months. While it’s wise to be ready to hit the ground running in 2022, ...
Let’s face it, you might be feeling like you didn’t get the chance to do a lot of business this year. What with all the disruptions from changing alert levels, lockdowns and traffic lights. It ...
On your marks, get, set, and GO! Hospitality businesses have been stuck in limbo for what feels like an age. But things are finally changing, and it’s time to get ready for action! People are dying ...
The IRD have informed us of the following changes to the financial support for businesses as we go into the new Covid Protection Framework (The Traffic Light system), on December 3.
As some of you know Xero launched their Shopify app last week in The Xero app store. This app will help you batch up all the transactions for each payout in one invoice that reconciles against the ...
Running a hospitality business is challenging even when the economy is booming and life is “normal.” With narrow profit margins, the high cost of labour, and a highly competitive industry, many ...
The holiday season is approaching fast. Whispers of Christmas are already around, and before you know it, people will be hitting the stores to start their holiday shopping. The move to online ...
Every business experiences peaks and troughs. Whether they be from expected seasonal fluctuations or unexpected events like a global pandemic. While you can’t possibly predict everything that will ...
So you have a great business idea and are convinced you can make it work, but you don’t have much capital to get your business off the ground. Juggling existing financial commitments such as a ...
Some things in life are certain… The toast will fall buttered side down when you drop it on the floor. It will automatically rain on the day you forget your umbrella. And, that call you have been ...
This seems like a straightforward question. But, a surprising number of business owners can’t provide an accurate answer. Many are too time-poor to dig down into their numbers to really understand ...
If you're a business owner or if you are planning on starting a small business – are you confident about what expenses are fully deductible from your business to arrive at a net profit (or loss)? ...
It doesn’t matter what your profession or what your life goals, but at some point in your life you will probably have to sign or use a contract. There are all sort of contracts. For example, if you ...
A new entrepreneur will encounter a million issues: legal setbacks, human resources, intellectual property, product development, marketing—the list is endless. Starting a business is a daunting ...
Why do some bars, restaurants and cafés achieve outrageous success while so many make poor returns or even run out of cash and are forced to close their doors? For 15 years I was involved in a ...
For many business owners, determining the success of a business comes down to how much profit the company makes. Of course, finances are an important measure of an company’s overall success. If you ...
The Budget yesterday offered some further assistance for businesses facing severe issues due to Covid-19. The main purpose of the budget is to protect current jobs and create new ones to reduce ...
These days, you can use technology to take care of almost any issue facing your business. If you have a task you don’t like to do, there’s an app or software program to take care of it for you. It ...
Risk tolerance, time horizon, and asset allocation - you've dealt with these factors for a good part of your life, but now, in the face of retirement, they take on a more urgent and significant role. ...
When you're reviewing your investments, it's important to remember that income and returns come from two main sources, Capital Gains and Interim Income.
On the eve of our ‘lockdown’ period, many of you are wondering about the way the wage subsidy will work when you must endeavor to keep your employees with a minimum of 80% of normal pay.
Today Government announced finance packages to help mortgage holders and SME's The package will include a six month principal and interest payment holiday for mortgage holders and SME customers who's ...
Please refer below to the summary of the announcements today for business owners. • Cabinet has agreed to expand the wage subsidy and has removed the $150,000 cap. • All businesses are eligible, ...
Change in business is almost always a good thing, but often poor management means that the workforce becomes disengaged and the change process painful. In the worst cases, this results in irreparable ...
Even the best entrepreneurs make mistakes. In fact most would advocate that you need to make a few mistakes to learn and grow. So it’s important not to let those missteps stop you from following your ...
Running a business in a smaller city may mean you have a more limited talent pool to draw employees from, but it doesn’t mean you won’t have access to top notch workers. You may need to alter your ...
The future of your family business may seem like a problem for tomorrow or sometime next decade, but forward-thinking business owners know they need to plan for the future today. The steps you take ...
It’s natural for small business owners to think that they won’t be victims of cyber attacks. Most of the news surrounding hacking and data breaches involves large corporations, but that is because ...
The first day of a new job can be overwhelming for new employees. There are company policies and procedures to absorb, colleagues to meet, and job duties to learn. That stress can make the first few ...
Running a small business is hard work. Entrepreneurs know they have to put in long days and give up personal time in pursuit of success. There’s a line, however, between putting in some extra time ...
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.
Being a small business owner can be fantastic. You get to be involved in every aspect of your business, from marketing to event planning, from sales to employee development. Being involved in so many ...
Hopefully you have long – and short-term plans for your company and you may even have a strategy for your own development, but have you considered having a personal development plan (or individual ...
When you run a small business, every cent counts. It can be difficult to spend money on anything you don’t consider vital. Hiring a lawyer during key times in your small business might seem like an ...
Christmas is a demanding time for many people, but for the small business owner it can be downright stressful. Often you’re dealing with end-of-year fiscal matters, tying up loose ends if you’re ...
When you run your own trade business, your life involves a lot of long days being on job sites while managing projects, staff and clients. There probably are not enough hours in the week for you to ...
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 ...
Should you share your business’ financial performance with employees? There are two schools of thought when it comes to “open book management” – the decision to increase transparency by sharing your ...
We all know the usual process for finding new employees. Advertise a job. Read resumes. Conduct a telephone interview. Conduct a face-to-face interview. Choose someone. The steps to recruiting new ...
As a small business owner, you’re likely concerned about every penny you spend. That’s a good thing, because you need to keep track of your income and expenses. It also means, however, that you might ...
Small business owners already have a difficult and time-consuming job running their business. If their business is open five days a week, they usually need the weekend to catch up on paperwork, pay ...
As a small business owner, you’re likely always looking for ways to achieve more. Maybe you made a New Year’s resolution about it. You might have resolved to make more money, find more clients, or ...
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.
Small business owners know that to find a loyal customer base, they have to stand out from their competitors. One of the best, and easiest, ways to do that is to have outstanding customer service. ...
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 ...
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.
Every manager has habits that make them incredibly effective as well as issues that their employees wish they would change. The problem is that many employees won’t tell their manager what those ...
If your small business operates on a tight budget you might be tempted to eliminate costs that you think aren’t necessary. Often small business owners choose to go without business insurance as a way ...
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 ...
When you run a small business, you’re involved in your company’s sales, accounting, marketing, and human resources, among other things. Being responsible for human resources isn’t just about hiring ...
When you own a business, any time you speak in public you’re representing your company. That’s a lot of pressure, especially when you consider that most people are already nervous about speaking in ...
While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering.
Often small business owners worry unnecessarily when it’s time to hire employees. They fear because they can’t offer the same high salaries and impressive benefits of a large company, they won’t be ...
One of the most often cited reasons for not embracing innovation is that it is too risky. Prototyping or testing often comes with a high cost. Combined with the cost of the time spent, this can all ...
Time management skills are increasingly important in a world where people seem to rush headlong from one crisis to another. Add in the effect of social media and addictive computer games that can be ...
A business plan is essential for business development. But even with a solid plan there is some aspect of unpredictability. There are a multitude of variables that have to be taken into account, any ...
Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage ...
The ability to network is a fundamental part of running a business. Running a business in isolation is difficult, so it helps to have expert partners and acquaintances available to share ideas with. ...
Customer loyalty programs are surprisingly simple to implement, especially online, and can bring many benefits to your business. Beyond the simple fact of adding satisfaction for your regular ...
Businesses of all sizes are under constant threat from cybercriminals and malicious software, with even some of the world's largest and apparently impenetrable organizations making headlines in ...
So many business employees are now telecommuting, that companies around the world are restructuring their management practices to meet the challenges of remote collaboration.
When your email list is small or you'd just like to add more people and get higher open rates, it's smart to grow your list through personal contacts. Begin with the obvious: ask friends, family and ...
Without knowing your break-even point, you can’t make informed business decisions. To cover the costs of your business you need to sell enough goods or services to reach your break-even point. ...
Have you had a potential investor turn away from your business for seemingly no reason? Investors don’t usually turn away from good opportunities so was there something that made your company or ...
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 ...
Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, ...
What is recurring revenue? It's the revenue you can depend on generating, year after year, with a high degree of certainty. It's the repeat business or long-term contracts you've established with ...
Taxation (Annual Rates for 2019-20, GST Offshore Supplier Registration, and Remedial Matters) Bill. You will probably be aware by now that the above Bill is before Parliament to introduce ...
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 ...
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.
Managing people is one thing, but anyone with experience of managing managers will know that's a completely different ball game. A management team that works in complete harmony is a rare and ...
