4 helpful tips for using AI in your business
Prospa Blog
by Diya Marwah
1M ago
By Lachlan Haycock The chatter around generative AI is ongoing, and there are opportunities for small businesses to make the most of the many tools out there as they launch into the new year. In previous articles exploring how small business owners can make and have made the most of emerging trends in AI, we’ve explored how to use ChatGPT to help write blog articles, speech-to-text tools to reduce admin, and more. Although it may not do all the work for you, AI can assist you in streamlining operations, cutting back on admin and brainstorming new ideas. Here are four more tips for how small bu ..read more
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Meet the mechanic driving his business to new levels of success
Prospa Blog
by Diya Marwah
2M ago
Starting with grease-stained hands in his father’s shop, Richard was another mechanic with a passion for the roar of engines. But deep down, the spirit of an entrepreneur was revving up.  In 2019 he decided to open his own automotive service and repair business. “I’ve always wanted to run my own business,” he says. “Tauranga is a massively growing town and apart from the dealerships, there weren’t a lot of shops servicing local vehicles.”  Lifestyle was a big reason Richard wanted to be his own boss. “It’s about having the flexibility to spend time with my partner, go away for weeken ..read more
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How 5 small businesses grow at local markets
Prospa Blog
by Diya Marwah
2M ago
Markets come to life every weekend across New Zealand and never more so than over the busy end-of-year holiday season.  Their popularity is largely due to the unique shopping experience they offer, whether customers are after fresh food or unique gifts.  As Te Atatu Toasted’s Clare Robinson says, “Have you ever noticed how people shopping in the markets always look so much happier than in a supermarket? Everyone is strolling and stopping for a chat and it’s just much more relaxed.”   Five small business owners share why a market presence is crucial to their business’s succe ..read more
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Small business tips for a successful year-end season
Prospa Blog
by Diya Marwah
3M ago
As the calendar inches closer to year’s end, small business owners need to prepare for both the seasonal rush that comes with summer, and the dip in trade commonly associated with the first quarter of the new year.  Paul Watson, director of Oxygen8 Business Consultants, shares his tips for making the most of the busiest time of the year and avoiding some common pitfalls.  Temporary staff — to hire, or not to hire?  “Unless there’s little or no skill requirement – say, dishwashers in a cafe – try to manage with the resources you already have,” Paul advises. “Training and managing ..read more
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Short-term staffing solutions for the holidays
Prospa Blog
by Marina Ayoub
4M ago
With the holiday season fast approaching, many small business owners are ramping up for the busiest time of year. If your business needs more hands on deck, it’s critical you know what kind of employee will best meet your needs and have a clear understanding of the conditions of their employment. Here’s a look at the difference between temporary and casual employees, how to stay compliant as an employer, and why it’s time to act now to get staff on board. Temps vs casuals: What’s the difference? Employsure Senior Employment Relations Adviser, Michael Wilkinson, says small businesses need to be ..read more
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4 apps and websites to manage cash flow
Prospa Blog
by Diya Marwah
4M ago
Access to a phone is all that’s required to have an accurate, real-time view of every aspect of your cash flow, from profits and unpaid bills to projected revenue.   But how can you best unlock such capabilities and manage your finances? These four digital tools are worth checking out.  1. The Prospa App The Prospa App, which recently became available to NZ customers, gives small business owners a simple way to manage their cash flow on the go.   Whether it’s seeing balances, transaction history, upcoming or missed repayment, the Prospa App helps give customers instant ..read more
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What the general election means for small businesses
Prospa Blog
by Diya Marwah
4M ago
New Zealanders headed to the polls on 14 October and came away having elected a new government after seven years, with an outcome that might impact small businesses in taxation, regulation and business confidence. Christopher Luxon of the National Party will become the country’s next prime minister, with his party to form a government with the support of the ACT Party. Small business policy changes Prior to the election, the National Party promised that it would, among other things: Remove tax depreciation for commercial buildings, which it says would create an estimated $525 million in reven ..read more
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Tips to improve your business’s cyber security
Prospa Blog
by Donna Quayle
6M ago
Cyber security incidents are on the rise for small businesses. The Computer Emergency Response Team (CERT NZ) received 8,831 reports in 2021 and that number is only expected to grow. The cost associated with those incidents was almost $9 million. As cyber resilience expert and director of Outfox Jan Thornborough explains, it’s time to make cyber security for your small business an urgent priority. What is cyber security? “Cyber security refers to the tools you use to ensure your systems and data are safe from cyber attacks,” explains Jan. “We encourage businesses to engage in cyber resilience ..read more
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Sandi Larkin’s tips for small business growth
Prospa Blog
by Ruly Zahri
6M ago
In our ‘I wish someone had told me that’ series, we speak with seasoned small business owners to hear their advice on growing a business and what they wish they were told along the way. Click here to read the rest of the ‘I wish someone had told me that’ series. Sandi Larkin always wanted to own her own business. Five years after starting her upmarket hairstyling salon The Following Hair Co, she says the learning curve has been as dramatic as her business growth. But these days she’s welcoming around 150 new clients a month and seeing rapid growth. For other retailers wanting some of the same ..read more
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Using external funding to grow
Prospa Blog
by Ruly Zahri
6M ago
For almost 20 years, Phil Walding has been churning out labels at a rate far beyond what you would expect for a one-man operation. A combination of his commitment to quality, quantity and turnaround times, and financial support from Prospa at crucial times during the business’s growth, has meant Phil has been able to keep his six printing machines running through all the challenges his business has faced over the past few years. Phil founded LabelMAN, based in Christchurch, in 2004 and as his business is based on a high level of automation, it operates at full capacity with just Phil and a cou ..read more
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