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

COVID-19 Business Update – 25 November 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. Government Working Through Ramifications of Vaccine The Government is working out how many people would need to be vaccinated against COVID-19 before the borders could be opened. According to COVID-19 Response Minister Chris Hipkins, it could still be 12 to 18 months…  Read more

COVID-19 Business Update – 18 November 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. Government Fast Tracks $2.9 Million for NZ Biotech Firm to Build Vaccine Lab The Ministry of Business, Innovation & Employment has approved a $2.9 million payment for Biocell to upgrade its research facility in Papatoetoe, Auckland to manufacture a potential COVID-19 vaccine.…  Read more

COVID-19 Business Update – 4 November 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. Investment in NZ Startups Remains Stable Despite Lockdowns Investment in New Zealand startups has remained resilient despite the business disruption brought by COVID-19 restrictions, according to the latest Startup Investment report from PwC and the Angel Association. Deep tech and SaaS (software…  Read more

COVID-19 Business Update – 28 October 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 Exports Holding Up Despite COVID-19 Crisis Latest figures by Stats NZ show a decline of $5.9 billion in imports and a $1.2 billion increase in exports for September 2020 compared to the same period last year. This resulted in an annual…  Read more

COVID-19 Business Update – 21 October 2020

Hello again – welcome to the latest edition of our Weekly Digest. Lately, economists have been talking about a “K-shaped” recovery from the current recession. As this article in The Conversation explains, this kind of recovery happens when different parts of the economy recover at different rates. White-collar workers who can more easily work remotely may have an easier and faster path to recovery than blue-collar and service workers who…  Read more

COVID-19 Business Update – 15 October 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for this week’s update. Survey: NZ Businesses Prepared to Innovate In an Asia Pacific survey by Microsoft, about a quarter of 420 New Zealand businesses were leaders in promoting innovation, significantly more than the Asia Pacific average of 8%. It was also found that nearly two-thirds of New Zealand organisations were speeding up the adoption of…  Read more

COVID-19 Business Update – 7 October 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for this week’s update. Auckland to Move to Alert Level 1 Auckland will move to Alert Level 1 at 11.59pm on Wednesday night. Under level 1, Aucklanders will now be able to go about life as usual, which is great news as it will likely mean business activity will pick up. However, it is important to…  Read more

Why You Need a Financial Plan

Countries in recession, unemployment rates rising, multiple economic indicators at their all-time lows, increased market volatility– these are just some of the economic impacts we’re seeing as a result of the pandemic. As we continue to battle the COVID-19 crisis, it is important for everyone, especially those who have had their income stream affected, to keep their finances in check and proactively find ways to navigate to recovery. By creating…  Read more

How to get your business noticed on a shoestring budget

Very few small businesses have a huge marketing budget to work with. Fortunately, there are a number of simple, free and low cost ways to get the word out about your company that are also highly effective. These tips will show you five simple ways to promote your local business without breaking the bank. Get free press Advertising rates for local newspapers and radio stations can be way too costly…  Read more

COVID-19 Business Update – 16 September 2020

Hello again – welcome to the latest edition of our Weekly Digest. Read on for this week’s update. Restrictions to be Lifted in Most of Country on Sep 21 COVID-19 restrictions will be lifted across the country on September 21, except in Auckland, which has been the centre of the second wave of infections. However, cabinet will review the current rules for Auckland at its September 21 meeting, potentially increasing…  Read more

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