Blog

New Zealand recorded its sharpest quarterly contraction and officially entered recession as second quarter economic data was released this week. The median forecast of economists polled by Reuters showed GDP shrinking 12.8% quarter-on-quarter in the three months to June. The strict pandemic lockdown measures battered economic activity, but the economy has since somewhat bounced back. Still, there is a lot of uncertainty ahead. Let’s look at what’s happening to help…  Read more

The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less– often worsening the economic slowdown. For most businesses, especially small businesses, recessions can be brutal. For example, the Global Financial Crisis (GFC) that struck the world in 2008. Between December…  Read more

We know that the recent return to COVID-19 lockdown level 3 in Auckland is unfortunate news for struggling businesses, especially in the retail and hospitality sector. As distressing as this is, we’d like to point you in the direction of ways you can cushion the pandemic’s economic impact – some of which you may not have heard about. We also through a couple of interesting COVID-related articles into mix. Business…  Read more

As a lawyer, doctor, surveyor, IT specialist or other professional business owner, the task of accounting for your specific industry can take you out of your comfort zone. Not only do you require basic accounting services, but you need expertise and tools that can cater to the requirements of your particular profession. Why use a specialist accounting firm? While all accountants train to work with numbers, a specialist accounting firm…  Read more

All businesses need accounting services, however an astonishing number of business owners are attempting to manage accounting on their own. Now the good old ‘Kiwi DIY’ attitude has its place, but with all due respect, professional accounting practices are not easy to fashion out of number eight wire! So let’s break down how having professional accounting practices will up your business game. Depending on the nature of your business, you…  Read more

In the last few months, we have done more online shopping, curb-side pick-up, and Zoom workouts than ever before, and it is pretty clear that the global business landscape has changed. Perhaps forever. Through it all, entrepreneurs and business owners have reduced, enhanced, retargeted and outright pivoted their product and service offerings to evolve in the face of change. This global response to the pandemic will define the way we…  Read more

AUGUST UPDATE: Fully funded support is available through the Regional Business Partner Network. Please talk to us to see if you are eligible to apply. Read more below. As a small business owner in the midst of the global pandemic, you’ve probably had to make changes to your business model. Whether it was hosting meetings with clients on Zoom, learning about encryption technology to allow employees access to sensitive information…  Read more

Many of our clients view document storage as a low priority job and rely on their email file or pieces of paper to store invoices associated with expenses that they are claiming. Although it’s tempting to work this way its actually really important that the documentation for every transaction is kept and also that the GST treatment for every transaction is looked at. From time to time we see costly…  Read more

There’s no two ways about it; if you run a business, then you might as well embrace your relationship with Inland Revenue as it’s not going anywhere! Whether you’re in the retail sector, or professional services, what will help this relationship from spiraling is the same: IRD like to see clear-cut systems around record keeping that remove room for error and miscalculation. Easy, right…? What are ‘business systems’? When we…  Read more