Industry Advice on Finance, Business & Tax for the New Zealand Market

Deciding to change accountants can feel like a big step, but as your business grows it may become a very necessary one. So how do you know when it’s time to make the switch? Here are five questions to ask yourself before making this important decision.

It’s one thing to have a governance board; it’s another to have a good governance board! What processes can you put in place to ensure your board performs to a high standard? Take note of these five characteristics of good business governance to make sure you’re on the right track.

You know money is coming in, and it is definitely going out – but for some reason you don’t feel like the business is actually running a profit. Sound familiar? This could be because there are blockages in your working capital cycle (WCC), and it is important that you identify these before they become a large burden on your daily business operations.

Most businesses will need bank funding at one time or another – whether it is to purchase new plant and equipment, move to larger premises, or employ more staff - read on for tips that can help maximise your chance for success.

Taken together, the balance sheet and profit and loss statement represent a complete financial picture of a company and provide valuable “decision-relevant” information. Ratio analysis, in particular, is a useful management tool that can help improve your understanding of how well your business is performing financially and can be used to spot trends over time.

High performing boards often employ an independent advisor who can bring discipline, experience and objectivity. Having an external accountant or company lawyer on the board is common; but it is important to remember that these professionals should act in an advisory role with a ‘big picture’ or business focus.

For most SMEs, having a full time CFO in place is often not feasible – particularly one that can provide strategic thinking, progression and profitability. So here are the four main reasons that implementing a virtual financial controller or VCFO is a viable option to help your business grow.

Businesses often face rising costs across their supply chains, from raw materials to wages, leading to significant margin pressure that can erode profits. To combat this challenge, it is crucial for businesses to implement effective strategies. This article outlines three key strategies that can help alleviate margin pressure and enhance profitability.

For every business to grow, whether big or small, good governance is essential. There is no shortage to the benefits of what a governing board can bring to an organisation, but we've come up with our top five.

For small to medium-sized businesses, there are a number of factors that can inhibit the future expansion of a business – changing markets, the loss of a big client, inability to accurately scale resources. There are five main issues that constrain business growth.

New property tax compliance regulations have been introduced for residential property purchasers, potentially leading to scrutiny from the Tax Department for some taxpayers. As we assess these changes, it's crucial to understand their implications and the anticipated effects moving forward.

When is it time to initiate your business exit strategy? One of my all-time favourite songs has to be the iconic “Gambler” by Kenny Rogers. Any self-respecting karaoke party or late-night sing along would be incomplete without someone belting out this legendary story - which holds some great advice.