Blog

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

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

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

Managing cash flow is a vital part of running a successful business especially in the current economic climate. 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…  Read more

If you’re a New Zealand business that has been affected by the economic volatility which COVID-19 has brought, you may have already heard about the COVID19 temporary loss carry back scheme which the New Zealand government rolled out in the week beginning 27 April. This bill has been developed to take the financial strain off businesses who may have large amounts of tax to pay, but expect to, or are…  Read more

With Alert Level 2 underway and most businesses now able to cautiously reopen, we are preparing for the next phase of the COVID-19 crisis: rebuilding. The Rebuilding Together Budget 2020 released last week, along with other government initiatives, have given businesses some financial and practical support for the coming weeks and months. We take a quick look at some of these. Wage subsidy extension The wage subsidy extension will be…  Read more

Hopefully this finds everyone well in their bubbles. It’s great to hear that as a country we seem to be on top of this virus and that we will drop to level 3 in a few days. Right now it seems like we are in one of the best places in the world. Challenges ahead Obviously though there are serious challenges for the small business owners, contractors and rental property…  Read more