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Cash Flow TipsChristmas is the most awaited time of the year. Not just because of the festive and merry vibe everywhere, but because it is also the time that we can relax due to the long holiday break. However, that long holiday break may not be a good thing for some businesses as it means an irregular period of cash flow.

Businesses might close for a few days or even weeks during this time - but it doesn't mean that their expenses stop. There are still business expenses that occur while your business is on a break.

Some of the cash flow woes that small and medium sized businesses experience over this season include insufficient funds to cover expenses over the summer break and the employees who are responsible for managing your cash flow, accounts receivable and other financial affairs are on holiday.

So how do you beat these cash flow problems while enjoying the rest of the holiday?

Here are some simple cash flow management tips that you need to do to have a worry-free holiday season: Read more…

Tax deductions on entertainment and giftsAre you holding a Christmas function or a year end party this year?

Giving gifts to your employees?

If you are, you may be able to claim a tax deduction.

Below is a quick guide to tax on Christmas entertainment and gifts for your business.

1. Entertainment

There are rules and conditions when it comes to tax deductions with Christmas parties, year-end functions and other client/customer or employee entertainment expenses. Some entertainment expenses are fully deductible, while some are not. Here are some quick tips to help you: Read more…

Creating An Effective Business Strategy

Creating Business StrategyWe know that business strategy plays an important role in the success and growth of your business. Whether you are starting a business or buying one, you need it to go in the right direction.

Since the year is about to end, you should revisit your existing business strategy and perhaps draft a new one in preparation for the new year.

How do you create an effective business strategy or update your current one? How do you create a new strategy that is more applicable to changes in the industry?

Developing or updating your business strategy does not need to be hard.

You can start by outlining your ideas and plans. You can then polish it afterwards. You don't need to write everything just to make your business strategy look smart and comprehensive. You just have to make it clear, brief and very specific.

But if you are still unsure how to draft your business strategy here are some tips to help you get started: Read more…

Simple Tips To Successfully Network With PeopleLooking for job opportunities?

Do you want more connections and to grow your business?

How about good referrals or possible clients?

These are just some of the many outcomes you will want to achieve when you connect with people or attend networking events, with your elevator pitch ready to help you make conversation and gain good connections.

But are you making good connections at these networking events? Or are you just collecting a handful of business cards that will just get dusty on your office table? Are you just wasting your time talking to random people? Read more…

Business StrategyWhen starting a business, your goal is to see your business grow and be successful. An effective business strategy is critical to achieving this.

That is why you need to invest time and energy creating your business strategy and mapping it out step by step to ensure it is well-organised and well-planned. 

Here are some tips to help you create an effective business strategy which will assist your business to grow. Read more…

Cash Flow Goals For Your Business To Grow

Cash flow Cash flow is the amount of money coming in and out of your business. Cash usually comes from selling your goods and/or services. The cash is used to maintain business activities, like paying for materials to make your products, employee wages, rent and other operating expenses.

Cash flow is the main indicator that your business is doing well. That is why many business owners aim to have a consistent positive inflow of cash.

But how do you achieve that?

How do you get more cash coming into your business?

If you are starting a business or thinking of ways to grow your existing one, here are some cash flow goals that you need to achieve to keep money coming into your business. Read more…

6 Reliable Ways to Fund your Business

ways to fund your businessIf you are an aspiring entrepreneur, you often have great business ideas that you want to pursue, such as a franchise, a new product, or a tech startup. Once you have realised the potential of your idea you start to become excited. You even start imagining how it will take form - the business strategy, operations, marketing, logistics, etc.

But your excitement may die down, as you come to realize the biggest question when starting a business.

"How and where do I find the money to start?"

Money is the life blood of business. If you don't have enough capital, you will have a hard time getting started.

Good thing there are options out there that you can investigate if you are looking for ways to fund your business. As a mentor and business advisor in Auckland, New Zealand, we have suggested some of the various financing options, including the pros and cons of each option to help you. Read more…

Business survivalThe business industry is very competitive and unpredictable. Your business may be booming one day then the next day it isn't. There are many factors that can affect your stability including the economy, politics and technological advancements.

In New Zealand, about 10% of all small businesses fail in their first year of operation, while a significant number (70%) will fail in their first five years. Some of the most common reasons why businesses fail include poor management, sloppy records, too much or too little stock, failure to plan, misuse of time, neglecting marketing, and general management incompetence among others.

That is why business owners need to have a solid business strategy to help them stay on track and not get lost along the way. Read more…

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…

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