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We believe in passing on knowledge.

Business StrategyWhen starting a business, it is important that you have a roadmap to guide you. The business industry is very competitive and if you don't have an idea of what to do or where to go, you can easily get lost along the way. So whether you are starting a new business or planning to grow and expand your existing one, it is essential that you have a business strategy to focus your activities.

But how do you create the most effective strategy for your business?

Here are the steps that you need to consider: Read more…

Looking for a smarter and faster way to manage your business financial transactions?

Then you should work in the cloud!

If you are using small business accounting software that is not in the cloud, you are missing a lot of opportunities. Using traditional accounting software can take much of your time, often needs regular updating, has limited access, can be costly, and is sometimes not secured.

But when you use cloud accounting, many of these problems are solved. Cloud accounting is very cost-effective, scalable and easy to use. 

Not convinced?

Watch this animated video to find out more about the benefits your business will get once you use cloud accounting.  Read more…

Buying a businessAfter understanding the business acquisition process, preparing the projected costs and expenses and creating the business and marketing plans, it is now time to understand some of the key legislative requirements businesses and their owners must comply with.

Whether you are starting a business from scratch or have acquired an existing one, as a business owner you need to be aware of the legal environment you are operating in. Here are some laws you may need to know about so you can legally operate your business, regardless of what line of business you are in: Read more…

Creating a Marketing PlanIn our previous blog discussion, we talked about how to write the important components of an effective business plan. Now that you have a strategic plan for your business, it is time to introduce your brand to the market.

The next important step is to create your marketing plan.

We have invited Jo Martin, Marketing Manager for Paul Martin Chartered Accountant Limited to answer some of the many questions you may have and to give us some tips on how to create the most effective marketing plan for your business. Read more…

Buying a businessLast time, we discussed the key establishment costs and expenses when purchasing an existing business to set your expectations of what you are about to spend.

Now, once you've successfully purchased the business, you need to create or structure a business plan that will help you sustain it and facilitate its growth.

As business advisors and Chartered Accountants in Auckland, we specialise in providing business strategy advice to people who are starting a business or purchasing an existing one. We help them understand that business planning is not just to raise finance but also the blueprint for the business' future.

So, what are the components of a detailed business plan? Read more…

Accountancy insuranceAs a business owner, you want to secure the future prosperity of your company and protect it from any financial misfortune. With this in mind, have you considered what would happen if you were subject to an audit by the Inland Revenue Department (IRD)?

As trusted a business advisor and Chartered Accountant in Auckland, we offer clients the option to purchase Audit Shield Accountancy Insurance.

Fundamentally, Audit Shield covers you for professional fees that are incurred as a result of us responding to post lodgment queries from the IRD and other government authorities in New Zealand. 'Audit' is broadly defined under the policy to include any official enquiry, review, investigation or audit (including phone enquiries) instigated by the government authorities in relation to lodged returns.  Read more…

BUYING A BUSINESS PART 2: Start-Up Costs

Start up costsPreviously, we discussed things you need to know when starting the process of buying a business to prepare yourself and set expectations. Today, we will discuss one of the most important parts of this process – start-up costs.

As consumers, one of the things that really matters to us when making a purchase is the cost of the product or service. We want to know the price so that we can analyse our capacity to buy and if the price is reasonable for the item being sold. We can also use this information to make comparison to other products and services. And once we make the decision to buy, we make necessary adjustments to our budget.

When clients come to us for business advice in regard to purchasing a business, we help them to break down all the costs and expenses involved in the transaction. As a trusted business advisor and Chartered Accountant in Auckland, we discuss with them the importance of various costs and the benefits of having them. Read more…

Ever wonder what successful entrepreneurs have that made them so good at what they do?

Successful entrepreneurs are just ordinary people. They live and breathe in the same world just like the rest of us. The only thing that makes them different from the rest is how they cultivate and live on positive values and habits. And these positive values and habits are not that difficult to achieve. In fact, with the right mindset and discipline we can also do what they are doing and potentially achieve success in everything that we want to do.

So, want to know what these simple habits are that make these entrepreneurs successful? Here are some of them: Read more…

Buying a businessStarting a business from scratch is not that easy. You need to deal with building your customer base, marketing your new business , hiring your staff, establishing your cash flow the list goes on. There are endless tasks and high risks, not to mention the time you need to wait for your investment and hard work to pay off…

...which is the total opposite of buying an existing business.

Purchasing a business for sale is easier, faster and less risky than starting from scratch. When you buy a business, you simply take over and continue its operation. As long as you are making a wise purchase decision, it should already have an established brand, customer base, and cash flow.

But before you get excited with the benefits of acquiring an existing business, you need to know where to start, what to do, and be aware of the whole process. You need to be warned that the whole process can be exhausting and heart-wrenching.  Read more…

Buying a business, big or small, is one of the biggest decisions and financial transactions you might ever make. It is not as simple as buying a product or service. There are many things to consider, processes and procedures to undertake, and different financial and legal requirements to think about. So, whether you are a businessman or a budding entrepreneur, you need a comprehensive guide to follow to ensure a successful transaction.

With many years in the industry, we, at Paul Martin Chartered Accountant Limited, have encountered many different clients aspiring to engage in the buying and selling of businesses. As trusted business advisors and chartered accountants in Auckland, we have helped them with what they need to know every step of the way - from due diligence right through to successful business turnover.

As many people don't know where to start when first looking at a business purchase option, we are launching a blog series covering a range of things you need to know about buying a business. Read more…

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