How to unlock cash within your business

As a business owner, have you ever been caught short of cash? What if I told you that the solution to your cash flow woes might be hiding in plain sight? Yes, you heard it right. Your business may already possess the funds you need, locked up in assets, stock, or your debtors. In this post, we’ll break down three areas you can check to free up funds within your…  Read more

Demystifying Inflation

Inflation – it’s a word that’s been on everyone’s lips recently. Rates are on the rise, and our small business community is feeling it the most. Increased supply costs, a lack of workforce, and dwindling profits are among the challenges faced.  Let’s demystify inflation and delve into its impact on small businesses. Grasping Inflation In essence, inflation is the uptick in the cost of goods and services. Whether it’s a…  Read more

How do I adapt my small business strategy in the midst of a cost of living crisis?

So, we’re officially in the thick of a cost of living crisis. This presents a challenge for entrepreneurs and is a nerve-wracking time for many small business owners. If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your staff, you’re not alone. It’s likely you’ve already looked at where you can cut costs, but it seems like an impossible task when suppliers are…  Read more

Why good financial advice is a great investment for your retirement

Retirement is a significant milestone that brings with it the need for careful planning and financial security. A well-planned retirement ensures that you can maintain your desired lifestyle without worrying about running out of money. One of the key components of successful retirement planning is seeking good financial advice. Obtaining professional financial guidance can contribute to a secure and comfortable retirement. The Benefits of Good Financial Advice Tailored Retirement Planning…  Read more

Cybersecurity Best Practices for Small and Medium-Sized Businesses

Cybersecurity Best Practices for Small and Medium-Sized Businesses In our digital age, cybersecurity is a crucial aspect of running any business. Cybersecurity breaches could lead to not only data theft but also reputational and financial loss. Hence, it’s imperative to establish robust cybersecurity measures to protect your business and customers’ sensitive information. Here are some cybersecurity practices that could help safeguard your online presence. 1. Invest in Security Software: One…  Read more

Business Update – 25 May 2022

NZ Weekly Digest – 25 May 2022 Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Work from home option a valuable benefit, say employees Hybrid working may be here to stay as many employers tout work from home options. Both existing employees and those job-hunting say work/life balance is key. Subdued government budget as expenses outpace growth…  Read more

Business Update – 18 May 2022

NZ Weekly Digest – 18 May 2022 Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Fuel prices reach an all time high in Auckland Petrol prices hit an all time high in central Auckland on Monday, reaching $3.15/litre. Despite the government scrapping fuel taxes in March, prices have continued to rise. Rising interest rates offset lower housing…  Read more

5 steps to test your business idea

When you’re in business for long enough, you’ll likely come up with new ideas you want to try. Innovation is important for your company to grow, to diversify its income, and to attract new customers. An important step between having an idea and jumping into it is testing the idea. Here are some important ways to test your idea, so you can launch it with confidence. 1. Talk to people…  Read more

Business Update – 11 May 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Price freeze in effect at Countdown supermarkets Countdown is freezing prices on 500 winter staple items in response to what’s being called a cost of living crisis. As of May 9, prices on these items will remain the same over the winter months. Air NZ making strides in its…  Read more

5 Xero Mistakes Business Owners Make and How To Avoid Them

If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure that you keep…  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

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

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

Business Update – 23 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NZ to Drop COVID-19 Vaccine Passes and Mandates Prime Minister Jacinda Ardern announced that New Zealand will do away with vaccine passes and mandates for some of the workforce in early April. High vaccination rates, better data to identify at-risk environments, and modelling suggests the Omicron outbreak would peak…  Read more

How to Hire the Right Bookkeeper for your Business

“Outsource your weaknesses.” So says start-up guru, Sujan Patel, when advising small business owners to get outside help for tasks like payroll and bookkeeping. And when you consider that 70% of businesses fail due to poor in-house financial management, Patel’s advice seems spot on. Unfortunately, many small business owners seek to keep costs low by doing everything themselves— unwittingly sabotaging the financial stability of their own company. If numbers aren’t…  Read more

Business Update – 16 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. New Zealand Opens Borders to Australians Fully vaccinated Australians will be able to travel to New Zealand from April 12. New Zealand borders will start to open for other countries from May 1. International tourism used to account for about 20% of the country’s foreign income and more than…  Read more

Efficient business systems really pay off

Too many businesses fall over because the owner has not established efficient business systems. This typically happens because the business owner is so caught up in the day-to day running of the business that the fundamentals of good business management get forgotten. Often too it must be said that the owner simply doesn’t like bookkeeping or other administrative tasks, so these get put on the back burner. The symptoms are…  Read more

Business Update – 9 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Isolation Period Reduced to 7 Days The isolation period for COVID-19 cases and their household contacts is reducing to one week, down from 10 days. Recovered cases won’t need to self-isolate if they become a household contact within 90 days – an increase from the current 28 days –…  Read more

Bookkeeping Basics for Small Business Owners

On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three…  Read more

Business Update – 2 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Reopening of Borders From 11:59 pm 4 March 2022, the following fully vaccinated people can enter New Zealand from anywhere in the world and do not need to self-isolate or enter MIQ: New Zealand citizens and residents Other eligible travellers under current border settings. Third COVID Vaccine Novavax Approved…  Read more

Want to grow your business? Our Free Resources will Help