Attention all trade professionals! Do you have your skills & services down pat, but pricing is giving you a headache? Hourly rates might secure every minute worked, but flat rates offer predictability—just watch for undercharging pitfalls. The hybrid method, a dynamic fusion, caters to diverse jobs. However, each has nuances, like client concerns or the …
Founding, building and growing your own small business is a hugely rewarding experience for many entrepreneurs. But the road ahead isn’t always smooth. There are common challenges that crop up and ongoing issues that need to be factored into your business plan, your strategy and your own personal thinking. So, what can you do to …
5 challenges for small business – and how to beat them! Read More »
Ticking items off your end-of-year tax checklist this month?
The Prime Minister, Chris Hipkins has announced that the minimum wage will go up from April 1 2023, to $22.70 – a 7% increase from $21.20. The Starting-Out and Training minimum wage rates will be maintained at 80% of the adult minimum wage. Costs are increasing Even if you don’t employ one of the 175,000 …
Minimum wage to rise in line with inflation from April 1 Read More »
Understanding your business breakeven point is essential to know how much money you need to make to stay in business. It can therefore help you make well-informed financial decisions and practical business plans. The breakeven point is the income or sales needed to cover all costs. Any earnings above this point generate profit. So your …
New Zealanders will soon have better access to open banking – but what is open banking – and what impact will it have on the way you shop and do business? Open banking is a secure shared infrastructure for moving financial information Open banking is a financial technology that uses an open API to send …
What are your business goals for the year ahead? The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. Last year, there were inescapable impacts on businesses, with some …
Review the year that’s been and plan for the year ahead Read More »
If you’re a profitable business, you’re required to pay tax on that profit known as income tax. If your end-of-year tax bill is greater than $5,000, you will be required to pay provisional tax in the following year during the year. This is not a separate tax, but rather, it is income tax paid towards …
In tough economic times, defining your financial risks is a superpower. Identifying your financial risks and implementing mitigation strategies is key to surviving economic downturns. After all, if you keep doing what you’ve always done, you won’t keep getting what you’ve always got – you’ll get less. Everyone is feeling the pinch. Businesses are hit …
Are we heading for a housing oversupply?For the past decade, New Zealand has had an undersupply of houses – the usual estimate was that we were about 75,000 properties short of what our population needed. The shortage was most acute in Auckland. Now, with house prices having dropped significantly and building consents at record highs, …