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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Tips for successful negotiating

Posted on Oct 30, 2016 by editor

Successful negotiators understand how to negotiate so that both parties feel like they are winning. Preparation is the key. Knowing what to concede, when to compromise, and how to handle negotiations are all useful tools. The ability to negotiate properly is key to avoid having conversations turn into confrontations and reach worthwhile outcomes for all parties involved. Here is a summary of tips that will help any business owner succeed at the negotiating table: Have some ground rules about the negotiation process before beginning. This is particularly important if there is a cultural or linguistic barrier. Do the homework and […]

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Putting a price on your products

Posted on Oct 30, 2016 by editor

Pricing a business’s products or services can be a difficult task, even for the most experienced business person. This is because the price a business charges its customers can have a direct effect on the success of the business, no matter the type of product or service being sold. Getting your pricing right can enhance sales, ensure profit and increase customer retention rates. Getting it wrong can create a number of problems for a business that can be hard to overcome – even in the long run. Pricing of products and services needs to take a whole range of factors […]

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Preparing for your business exit

Posted on Oct 27, 2016 by editor

Preparing a business for sale is a complex and often long-term process, which requires a lot of preparation and planning. Yet few business owners are prepared when it comes time to be sale-ready. Exit planning involves careful preparation and consideration of the financial and business implications. Here are three tips to help business owners prepare for a successful business sale: Prepare early Business owners should start preparing early to minimise the risk of a failed transaction and to optimise the value of their business. Anticipation of internal and external factors, including market conditions must be anticipated and managed prior to […]

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Building your brand on a budget

Posted on Oct 27, 2016 by editor

Many business owners would agree that there are more important things to spend money and time on than simply building their business’s brand. However, having a strong brand is often quite vital to a business’s success. Effective brands – e.g. Coca-Cola, Nike, Bonds etc. – can make businesses stand out from the competition and gain customer loyalty. Building a brand doesn’t always have to be an expensive endeavour. While it can be challenging, especially when dealing with the everyday problems running a small business throws at you, many entrepreneurs are finding that taking advantage of social media and other free […]

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A guide to GST registration

Posted on Oct 27, 2016 by editor

From 1 October 2016, non-resident businesses meeting the GST (Goods and Services Tax) registration criteria are expected to charge and return GST on any remote (including online) services they supply to customers who reside in New Zealand. Non-resident businesses are expected to register for GST when: they exceed or expect to exceed the GST threshold (that is their sales exceed NZD $60,000 in the last 12 months or are expected to be more than NZD $60,000 in the next 12 months) their customer is a resident in New Zealand they supply a qualifying remote service A qualifying remote service is […]

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Taking out a chattel mortgage

Posted on Oct 18, 2016 by editor

Taking out a chattel mortgage to finance the purchase of a business vehicle is an attractive option for small business owners from a tax-saving perspective. A chattel mortgage is a mortgage on a movable item of property i.e. motor vehicles. A finance company lends money to a business to purchase a car, which the business then pays back through regular repayments. Among the many business car finance options available, a chattel mortgage can provide significant financial advantages for companies, partnerships and sole traders looking to buy a vehicle to be used primarily (50 per cent or more) for their business. […]

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Reviewing your business plan

Posted on Oct 18, 2016 by editor

A strong business plan is at the forefront of many successful businesses. Business plans need to be reviewed and updated regularly to ensure your business responds to risks appropriately. An annual review is a good starting point, however, there are varying circumstances in which a review may be warranted. Market conditions, major threats or opportunities and low revenues may indicate that your business plan needs to be carefully reviewed. Here are three key sections to cover when reviewing your business plan: Financials If you find costs are rising and revenues are decreasing, it is time to examine your financials. Compare […]

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What to consider before rebranding your business

Posted on Oct 18, 2016 by editor

Branding can help small businesses stand out from the competition and gain customer loyalty – but only if it is effective. Businesses with brands that are confused, outdated or simply not appealing to the eye can hurt a business’s reputation and even repel customers. Businesses suffering from a branding problem may need to look at rebranding. Rebranding should never be taken lightly –  it can be expensive, time-consuming and involve a lot more than simply tweaking a logo and hoping for the best. But it may be necessary to strengthen a business. Here are three things to consider before embarking […]

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Creating a time-effective schedule

Posted on Oct 12, 2016 by editor

Creating and sticking to a schedule can help both employees and employers reduce stress and improve productivity in the workplace. In most work settings, there are numerous tasks, distractions, responsibilities and even people who compete for your attention, but if you want to keep your business excelling, you must be able to identify and organise the most important tasks to be addressed first. This is where a having a strict schedule comes in. To create a time-effective schedule, it is important to first establish a routine. Routines and rituals help complete tasks with maximum efficiency and minimal stress. For example, […]

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Growing your business

Posted on Oct 12, 2016 by editor

It can be difficult for small businesses to grow their customer base beyond the realms of the local community. Generating new business, however, is fundamental to business success, no matter how challenging it may seem. Here are three ideas small businesses can do to help keep their local customer base strong, while at the same time, spread the word about their business to larger communities: Get on social media To ensure your business is found online, set up a business profile on Facebook, LinkedIn or even Twitter. Social media can be a powerful tool to promote your small business to […]

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Latest news

Business tax bill is now law

Posted on April 12, 2017 by BDS Hughes

The Taxation (Business Tax, Exchange of information, and Remedial Matters) Act 2017 received Royal assent on 21 February 2017. The new legislation focuses on changes to business taxation to make tax simpler. From 1 April 2017, the threshold for self-correction of errors under section 113A of the Tax Administration Act 1994 has increased from $500 to $1000; the use-of-money interest will be reduced or removed for the vast majority of business taxpayers; and most RWT exemption certificates can now be issued for more than one year. For the 2017-18 and later income years: The 63-day rule for employee remuneration has […]

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