How to Build an Effective Financial Plan for Your Business

Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked. Without a…  Read more

5 Financial Tips for Your 30s

Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility in the coming years. Here are 5 financial tips to follow in your 30s, to help you…  Read more

4 Ways to Make the Most of Business Down Time

Every business experiences slow periods when the market for their goods or services lessens and sales drop. Business owners might be tempted to view down times as unproductive or wasted, but there are ways you can make the most of your business during these seasons. Here are four ways to ensure this time isn’t wasted. Take a good look at your business When things are busy it gets easy to…  Read more

Business Update – 26 May 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. New Zealand Pauses Travel Bubble With Victoria New Zealand has halted quarantine-free travel with Victoria as a new cluster emerged on Tuesday. This marks the fourth time the travel bubble has been disrupted since it started last month. The suspension took effect at 8:00 pm on Tuesday and is…  Read more

Ways to Make a Difference While Making Money

Gone are the days when an entrepreneur was expected to be entirely focused on making a profit. Obviously, earning money is important to being sustainable and therefore staying in business, but it’s possible to both earn a profit and make a positive difference in the world around you, too. There are great reasons for doing so. Making a positive difference contributes to the greater good. It can also boost employee…  Read more

Valuable information for the Real Estate Industry

If you’re a self-employed real estate salesperson or agent, it’s important to be aware of your tax responsibilities. We’ve highlighted some points to make it easier to fulfil your tax obligations.   Income Tax Commissions paid to real estate salespersons or agents are schedular payments and are usually taxed at a flat rate of 20%. This tax on payments is usually deducted by the person who pays you.   GST…  Read more

Business Update – 12 May 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. 500 Extra Managed Isolation Spaces Every Fortnight For Skilled and Critical Workers The government has announced 500 spaces a fortnight in managed isolation will be allocated over the next 10 months – the majority for skilled and critical workers. The current policy is for at least 10% of MIQ…  Read more

5 Tips to Get Out of Debt Faster

Living a debt-free life is one of the dreams of many people. However, paying down your debt is easier said than done. Some people struggle to keep up with their monthly bills and become overwhelmed with the amount of debt they have to pay. In these circumstances, it’s easy to “stick your head in the sand” instead of tackling the issue head-on. This approach only means you’ll be off track…  Read more

COVID-19 Business Update – 14 April 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Ardern to Border Workers: Get Vaccinated or Be Redeployed Border staff have until the end of April to be vaccinated against COVID-19. Otherwise, they will be redeployed to lower risk roles, according to Prime Minister Jacinda Ardern. This comes after a third worker from Auckland’s Grand Millenium isolation facility…  Read more

New 39% Personal Tax Rate For Highest Income Earners

In December 2020, the NZ Government passed legislation to implement a new personal tax rate of 39% for those with personal incomes above $180,000. This new rate came into effect from 1 April 2021 (the 2021-2022 income year). What You Should Know As with any changes in tax, there are knock-on effects that you should know about. These include: New Fringe Benefit Tax rate of 63.93% for all-inclusive pay of…  Read more

If my business is making a profit, where is the cash?

Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three reasons profitable businesses have little money in the bank, and what business owners can do to…  Read more

COVID-19 Business Update – 17 March 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Auckland Rejoins the Rest of NZ at Alert Level 1 All remaining restrictions in Auckland have been lifted after no locally transmitted cases of COVID-19 were reported for two weeks. The city now joins the rest of the country in Alert Level 1, which means there are no restrictions…  Read more

COVID-19 Business Update – 10 March 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Auckland Back to Alert Level 2, Rest of NZ to Alert Level 1 Early this week, Auckland returned to Alert Level 2 status that involves eased restrictions, allowing diners and shoppers back into stores and meeting with those they don’t live with. Meanwhile, the rest of the nation can…  Read more

Self-test for the Resurgence Support Payment (RSP)

Applications Open for Resurgence Support Payment Businesses can now apply for Resurgence Support Payment (RSP) if they suffered a decline in revenue due to last week’s COVID alert level change to level 2 or higher. Eligible businesses and organisations can apply to receive the lesser of: $1,500 plus $400 per full time-equivalent (FTE) employee, up to a maximum of 50 FTEs, or Four times (4x) the actual revenue drop experienced…  Read more

COVID-19 Business Update – 24 February 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Experts say Auckland Still Has ‘Low Risk’ of Outbreak Experts are confident Auckland still faces a low risk of community outbreak, despite the latest COVID-19 case being a “casual plus” contact of the community cases linked to the February outbreak. However, one epidemiologist warns it’s possible the current cluster…  Read more

COVID-19 Business Update – 17 February 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NZ Imposes 3-Day Lockdown in Auckland On Sunday, Prime Minister Jacinda Ardern announced a three-day lockdown in Auckland after reports of 3 new local COVID-19 cases. This requires everyone to stay at home except for essential work and shopping. NZ ranked the best performing in terms of containment of…  Read more

COVID-19 Business Update – 16 December 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for the latest updates and some ideas that will help us all move forward. NZ Economy Shows Faster Recovery from COVID-19 Impact New Zealand is expected to bounce back sooner from the impact of COVID-19 than previously thought, but large deficits and rising debt levels will have a lasting effect on the economy. The country’s Treasury…  Read more

COVID-19 Business Update – 9 December 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for the latest updates and some ideas that will help us all move forward. Bluetooth Tracking Launched as QR Scanning Rates Decline The government has launched a Bluetooth close contact tracking technology to boost the response in case of a COVID-19 outbreak. This means Kiwis will be able to use the Covid Tracer app on their…  Read more

COVID-19 Business Update – 2 December 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for the latest updates and some ideas that will help us all move forward. Small Business Employment Rebounds Past Pre-COVID Levels The number of people employed by small businesses increased 1.4% in October compared with pre-COVID-19 levels, according to the latest data by Xero. This showed that the economy was performing consistently, with week-on-week growth in…  Read more

Five Ways to Manage a Healthy Cash Flow

We cannot stress further the importance of properly managing your cash flow to ensure the smooth running of your business. However, in times of crisis such as the ongoing COVID-19 pandemic, this becomes more than important– managing your cash becomes a necessity for survival. If you are experiencing cash flow troubles, here are five things you can do to manage your cash flow better. Check your expenses. Now is the…  Read more

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