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 business. Convert assets into cash Your business assets, be it debtors, stock, prepaid expenses, vehicles, or equipment, are potential sources of funds. Debtors: Late-paying customers essentially represent untapped cash flow. Send out ..read more

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 can of beans or a property, prices creep up. This fluctuation is driven by numerous factors including supply and demand, production costs, staff shortages, monetary expansi ..read more

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 raising their own prices.  But, don’t despair just yet! There are strategies to stretch your dollar further, and they’re not always about trimming expenses. Regularly review your costs ..read more

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 Every individual has unique needs and goals when it comes to retirement. A financial advisor can assess yo ..read more

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 of the fundamental cybersecurity practices for small and medium sized businesses is installing reliable ..read more

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 The government has taken a cautious approach to new spending as it negotiates high inflation, global disruptions, and geopolitical uncertainties. The Budget shows deficits for the next two yea ..read more

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 prices While housing price growth has slowed, any savings are likely to be offset by rising interest rates, says Century 21 New Zealand owner. As such, it’s not yet a buyers market. Xero takes $9 ..read more

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 One of the best ways to test your idea is to share it with people, internal and external to your company. You’ll need to talk to people internally to find out if your company and team have the necessary skills, cap ..read more

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 recovery Air New Zealand has successfully completed its $1.2 billion equity raise. The airline has now strengthened its position in recovery from the pandemic and is able to repay its government loan. Unemployment ra ..read more

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 all your business bank and credit card accounts synced to Xero to ensure that you don’t miss any sales or expenses in your reports. Also, make sure that you separate your business accounts with your personal ones to a ..read more