To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of […]
Understanding Your Balance Sheet Read More »
The financial year has ended, so it’s time to gather your records for your accountant. If you’re organised, this can be a simple task. But for some, it might feel overwhelming, especially after a tough year. If it feels daunting, tackle it quickly and treat yourself to a little reward once it’s done. Reality check:
Reducing the uncertainty: key ways your accountant can assist Read More »
Nearly a third of New Zealand’s small and medium-sized businesses (SMEs) are entering 2025 with growing sales pipelines for the first quarter of 2025, according to new insights from MYOB. That’s excellent news for the Kiwi small business economy, but the same report also shows that 27% of NZ SMEs have less work in the sales
Sales expectations are improving: giving your sales a boost in 2025 Read More »
Small businesses are particularly vulnerable in tough economic times. When sales are slow, there are still overheads and salaries that need to be sorted. Pre-planning and being proactive can help you weather tighter economic periods and allow you to continue to thrive. Make sure you have a clear picture of your payroll, and any other
Keeping your cashflow strong in tough times Read More »
It’s tough making a success of your business alone. So, why not join forces with other businesses to create mutual benefits for everyone involved. Let’s explore some essential strategies to optimise your business, uncovering various paths to grow your business. 3 ways to find your ideal strategic partner Joining a Networking Group such as BNI,
How to optimise your business: look for strategic partnerships Read More »
You spend a lot of time making sure your business runs like clockwork. But is your business delivering for you personally, as the owner. We’ll look at the core ways your business can be structured to deliver on your own personal, family, and leisure goals. A business that supports your personal vision and life goals
Making your business work for you: the big goal Read More »
Being the boss means you get to make all the big decisions about your business – including how much to pay yourself in wages, salary or drawings. As the owner, you might need to underpay yourself in the early stages of building your business, so you can reinvest the profits. But your time is valuable
How much should you pay yourself? Read More »
Having proper control of your business finances is a big advantage. It helps you make well-informed business decisions and keeps your organisation profitable.With so many digital tools for managing your bookkeeping, accounting and management reporting, it’s never been easier to manage, track and forecast your financial position. But what are the main tools you need?
5 ways to get in control of your business finances Read More »
Strategic business partnerships are all about finding the common ground. If you share the same customer audience and create a complementary way of meeting their needs, you can significantly expand your target market. Your business may compete head-to-head with a number of other companies, but this doesn’t mean you have to treat ALL other businesses
Strategic business partnerships: the benefits of working together Read More »
Cashflow and profit are two of the most important financial metrics for any business. But while they’re both related to the financial performance of a company, they measure different things. Knowing the difference – and how cash and profit contribute to your business is key if you want your business to have the best possible
What’s more important, Cashflow or Profit? Read More »
