A trap that causes many businesses to go broke, while they’re making a profit
There’s a saying in business, “You can go broke making a profit.” And
another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with CASH. Cash flow
crises can often be averted. They can be predicted, planned for, and then contingency measures put in place.
In this blog post Anne Stephenson talks through common cash problems in business,
how you can sleep better at night and what a cashflow forecast will mean for you. We also created a document outlining the top 10 ways you
can improve cashflow within your business.
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve. A budget should be treated like a map and not a diet. Successful business owners see budgets as a way to help
set clear targets that they monitor closely and adjust as they go throughout the year.
In this blog post Anne Stephenson outlines 3 compelling reasons your business needs
a budget NOW!
Election 2020 and what it means for New Zealand taxpayers
Politicians make many promises in the lead up to an election and taxes are always front-and-centre. That's because tax revenue is
what makes the promises possible. The COVID-19 pandemic has created a situation where the government needs to spend a lot of money to
support our health system and to aid our financial recovery.
Steve Dawson has taken a look at the
party tax policies for those at the table, what is likely to happen with Labour in power, and what this means for you.
Connected Accountants invests in wellbeing and has set about making it a core plank of our strategy. It isn’t a ‘set and forget’ but an
ongoing commitment to improve and focus on the wellbeing of our team. We want our whole team to be happy and healthy and for that positivity
to be felt by the customers we work with and the community that we operate within. Craig Hudson from Xero recently presented a personal and
business case as to why empathetic leadership matters for you, your team, and your business and what you can do to help set the wheels
Open banking is a global trend that presents opportunities for SME’s in customer experience and business finance. We are on the cusp of radical changes in the financial system that will increase the efficiencies of getting paid, making payments, and securing fairer access to
capital. Read more on how these advancements in technology will aid in a more efficienct and improved financial system which enables better advice for better business.
From January 2021 a new Trustee Act will come into effect bringing with it new expectations on trustees. A number of the changes are around the duties, obligations and responsibilities of the trustees to the beneficiaries. With somewhere between 300,000 - 500,000 trusts in NZ, these changes will have a wide-ranging impact. Have a read through what it may mean for you and your family trust.
Weiji is the Chinese symbol for crisis, often said to include two concepts; danger + opportunity. Whether that is true or not, it certainly
includes the idea of being at a point where things change and there is no doubt that we’re in that spot right now.
In response to COVID-19 the Government is acting to support the economy, with a particular focus on small businesses, supporting
employees, and taxes. The package includes wage subsidy schemes, leave and self-isolation support and business cash flow and tax measures.
More info within...
Choosing a name is an important step in getting your business off to a great start. We sat down with Richie Connell of Thrival Partners and
Matthew Hayes of AJ Park to see what they think is important.