Marketing. It’s a word that seems to conjure up different things for different people. Some think it’s advertising, some think it’s sales. It’s an umbrella term for quite a few things and it’s vital for businesses big and small to understand how all the components best work for them.
Read More“Brian,” the boss addresses him as he sits down at the boardroom table. “We need to have a chat about your future at XYZ Limited.” Brian’s face goes white. “This isn’t easy,” Brian’s boss continues in solemn tones, “so can we agree that this discussion is off the record?”
Brian wonders what his boss is asking.
Is he suggesting this conversation can never be mentioned again? What if Brian wants to get legal advice? And what happens if Brian refuses to agree to keep this chat “off the record”? Will his boss dismiss him? He obviously wants to hear what his boss has to say. But how should he respond to his boss’s request?
Read MoreMatthew Gilligan of Gilligan Rowe and Associates comments on the softening of business sentiment and property market coming off the boil in Auckland. In 2015, he had predicted this, pointing to the 40-year pattern, with markets peaking in 1987, 1997, 2007, and now 2017. Focusing on the Auckland market, he picks up the argument and provides some practical advice to investors who are looking to limit risks.
Read MoreSetting priorities is a decision-making process in which you rank in order of importance the tasks you or your staff members must do. By completing the tasks on your list in order, you will achieve your goals. It sounds easy—but it's not. In fact, priority setting and sticking to the agreement you make with yourself will be one of your major challenges as a manager. Here are ten important suggestions to help you draw up a priority list—and make it work.
Read MoreWhen you hear the word ‘inheritance’, what is your first thought? Is it positive or negative? Do you think about what you could receive from your parents, or what you might pass on to your children? Answers will vary, but generally the term ‘inheritance’ carries positive connotations.
Read MoreTrustee capacity issues are becoming increasingly common as life expectancies increase. In New Zealand there is no automatic consequence of a trustee losing capacity - i.e. an incapacitated trustee is not automatically disqualified from holding office. Failure to act promptly to remove a trustee showing early signs of incapacity can have costly consequences.
Read MoreThe Companies Act offers a cost effective option to enforce payment.
Your business’s cash flow can be adversely affected by your debtors not paying your invoices on time. It can often feel like you are acting as a lender to your debtors, by providing them goods and services and they then expect to be able to pay over time or not at all, in breach of your terms of trade.
Read MoreOn 4 July, 2018 Inland Revenue released its finalised Operational Statement 18/01 - Commissioner’s statement on using a kilometre rate for work related running of a motor vehicle.
While the finalised statement is much improved compared to the previous draft, aspects of it still seem unnecessarily complicated in our view and will require some employers to give some thought to their reimbursement policies over the next year.
Read MoreA recently reported decision of the Taxation Review Authority (TRA) emphasises the need for shareholder/employees to carefully document financial transactions with their own companies, to be clear about what those amounts are paid for, and to ensure they pay tax when required. Failing to do so led to a large tax bill for one particular taxpayer.
Read MoreAlthough New Zealand has had GST for over 30 years, taxpayers and advisers alike continue to make errors. This article discusses the four most common GST errors and the rules for correcting GST errors.
Read MorePlenty of New Zealand employers think the law is too “employee-friendly”.
They cite cases where employees were surely at fault, but came away with big awards because the employer stuffed up the dismissal process.
“How can that be fair?,” they wonder. They go on to assume that it doesn’t matter who’s right or wrong. Process is all that matters in employment law.
So they end up going through the motions of a “fair process” whenever they deal with their staff. But really they made up their mind from the start and nothing was going to persuade them otherwise.
I understand why employers feel this way sometimes. But I think its a real problem. Let me explain.
Read MoreFor the majority of business owners we deal with one of their key goals is growth. In fact, there is a general fixation on growth within New Zealand, but as we’ve seen with the recent growth in the Auckland population, growth often comes hand in hand with pain.
Read MoreOne of the most common reasons why a business might hesitate launching their own blog is because they have no idea what to post. If you fall into this category, fear not. It’s a common problem, but it’s not hard to overcome.
Read MoreYour business website is a powerful tool for engaging potential and existing customers, and for collecting useful data. Where information collected is personal information, however, you have obligations under the Privacy Act 1993.
Read MoreChanges in shareholding can result in unintended tax consequences. In this article I highlight some of the (i) main tax issues to consider and (ii) commonly-held misconceptions. Note, the following comments do not apply to QCs, LTCs, or listed companies.
Read MoreWorking capital is the term used to describe your short- term or current assets and current liabilities. Current assets typically include cash, accounts receivable, inventory and short-term investments, while current liabilities include accounts payable and short- term loans.
Read MoreThe 'cash gap' is the time between cash going out and cash coming back into a business. Nearly every business has one, but left unchecked it can turn a profitable job or project into a financial mess. The root of the problem is that many business owners don't know what their 'cash gap' is, or how to calculate their business' working capital requirements.
Read MoreUnfortunately, debt recovery is part of running a business. Too often businesses take stock of their debtor position when it might already be too late, for example when a debtor company has receivers or liquidators appointed. It is good practice to keep on top of your debtors and to undertake debt recovery health checks for your business from time to time.
Read MoreIn addition to the other mandatory reporting changes that have taken place for charities with annual expenditure of less than $2m, one of the most notable changes from an accounting treatment perspective is in relation to revenue recognition, particularly grants and donations.
Read MoreDelivering high-impact key performance indicators (KPIs) is crucial to a company’s performance and growth. However, not every company understands what makes a good KPI or how to go about setting one.
Every company is unique and, therefore, their KPIs will also be unique. But all successful KPIs contain the same key attributes.
Read More