What makes a successful business plan

POSTED BY admin ON THE July 15th, 2019

When starting a new business, there are many elements you need to consider. Careful planning is essential to ensuring the longevity of your business, but what exactly goes into a good business plan? A good business plan is one that is detailed. Sections should include; an executive summary, company description, market analysis, organization and management, […]

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Using your tax return wisely

POSTED BY admin ON THE July 8th, 2019

Getting your tax refund back is exciting, but as tempting as it is to splurge, consider other ways you can put that money to good use. It is easy to get caught treating your return as extra money when you shouldn’t see it any differently than your regular paycheck. Give the money a purpose by […]

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Improving efficiency in your business

POSTED BY admin ON THE July 8th, 2019

As a business owner, making the most of your day to optimise productivity is crucial to your success. The most efficient businesses are those that can create more with less and are driven by highly motivated employees and inspiring leaders. To maximise efficiency within your business, it is necessary to understand the importance of time […]

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What to know about the IRD’s new automatic tax assessments

POSTED BY admin ON THE July 8th, 2019

From 20 May 2019, Inland Revenue has begun to automatically assess the 2019 tax position for over 380,000 tax-paying individuals. These assessments are a part of the IRD’s business transformation program, which aims to modernise and streamline the process of New Zealand’s tax system. These new assessments will finalise the end-of-year information for the annual […]

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The art of reinvention

POSTED BY admin ON THE June 27th, 2019

Small businesses often rebrand or reinvent themselves to keep up with marketplace trends. Knowing when to let go of an idea so you can grow is a smart trait for a modern business owner to have. Those who resist change and leave it too late to reinvent risk stumbling behind and even failing. Instead, businesses […]

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What to consider in an employee share scheme

POSTED BY admin ON THE June 24th, 2019

Employee share schemes (ESS) provide employees with a financial share in the organisation that they work for. They can be offered by organisations as a way to grow their business by attracting, retaining and motivating their employees. How they work: ESS gives employees shares in the organisation they work for at a discounted price, and […]

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How bullying brings your workplace down

POSTED BY admin ON THE June 24th, 2019

Bullying is a serious issue in workplaces and can affect your business on many levels. Workplace bullying is where repeated and unreasonable behaviour is directed towards an individual or group of employees. It is considered to be workplace bullying where it poses a risk to health and safety. Reduced productivity:As people don’t perform well in […]

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Good record keeping practices

POSTED BY admin ON THE June 18th, 2019

Starting your business with a good record keeping system can help you track your business performance, meet reporting responsibilities and access financial history with ease. Since different rules apply to different types of documents, the length of time that a business needs to retain documents depends on what the documents are. Some businesses may need […]

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Why you should check your KiwiSaver tax rate

POSTED BY admin ON THE June 18th, 2019

Inland Revenue has identified that 450,000 people have been paying the wrong rate of tax on their KiwiSaver accounts and other managed funds. This highlights the importance of understanding what rate of tax you should be paying on your KiwiSaver, and to check that you are paying the correct amount. The implementation of a new […]

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Ratio analysis methods for your business

POSTED BY admin ON THE June 11th, 2019

Financial ratios are useful tools for business owners to monitor, analyse and improve their business performance. By using ratio analysis methods, you can gain insight into a company’s liquidity, efficiency and profitability by comparing the information contained in its financial statements. Solvency:Solvency ratios measure the company’s capacity to fulfil long-term financial commitments. Debtor days is […]

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