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Sorting your financesUltimately business owners want to earn more and spend less to maximize their business profit. This is achievable if you know how to handle your finances and follow these simple tips.

1. Be honest and realistic when analysing your finances

Examine the funds in your business closely. Do you have enough money to sustain your operations for the next 3 or 6 months or the whole year? What is the status of your cashflow? Is money regularly coming in? Are you aware of your outgoings? Last year or in past years, were you spending more and gaining less?

Answer these questions as honestly as possible without any bias. Then, analyse your business finances. If you are spending more and gaining less, admit it. Be realistic about your finances. Track down the problems. And once you do, focus on how to solve them. Read more…

Tax Tips for 2017

Tax Tips for 2017For most business owners, tax is not at the top of the list of what they want to focus on when the new year hits. But managing taxation is a business requirement you cannot ignore, especially now that the Inland Revenue Department (IRD) is making technological changes to modernise tax administration.

As a trusted tax accountant in Auckland, we are sharing these top tax tips that will help keep you informed, as well as helping you to meet your tax obligations in 2017.

1. Proposed PAYE system changes being considered

The IRD proposes to further integrate the PAYE (Pay As You Earn) system into day-to-day business operations. This is to improve the accuracy of employee deductions and reduce the compliance effort for employers. Read more…

Business upgradesBeing in business is very competitive. Considering the many businesses and startups sprouting up everywhere, plus with continuous market changes, competition just gets tougher. That is why as an entrepreneur, you need to offer something new or come up with better service if you want to stay in the game.

So how do you do that?

How do you attract more customers and improve your service?

The new year is fast approaching so you should review and revitalise your strategy to keep your business growing. As trusted business advisors in Auckland, we have put together some business suggestions that you can start planning today and execute at the start of the new year. These aim not only to help you stay in the game, but also put you on top. Read more…

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…

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