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Last week I shared four of my eight vital things you need to know about business each and every month, here are the final four: Read more…

Just how much do you know about your business? No, not about what you sell, or how you make or deliver your products and services, I mean the really important things that determine whether you're going to survive the ongoing recession (just how do they work out those GDP growth figures by the way?) and make it through to retirement or maybe even successfully selling your business.

Here are four of my eight favourite things each and every one of us business owners should know about our businesses: Read more…

"Stressful! Disorganised and time consuming."

That was life for beef and deer farmers Kate and Nathan Stratford before moving to MYOB BankLink.

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Many small business owners struggle with employing staff, even to the point where they remain one-man bands to avoid taking on any employees. This, of course, means that they miss out on the opportunity to build wealth by selling their business, which surely must be one of the great things about going into business!

Getting things right with staff is just like other areas of business; it's about planning in advance, being organised, getting the paperwork right and being consistent and fair. Here are some pointers:

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Fashion and clever advertising has a huge influence on our lives, especially where technology is involved. Sometimes this can be positive but often it's bad for us e.g. you see folks out and about who don't look like they have two pennies to rub together with the latest expensive smartphones or 60" surround-sound TV's in houses that are unbelievably tatty. So is cloud accounting a fashion or is it here to stay?
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2015 Budget highlights

The key tax proposals outlined in the 2015 Budget are:

  • strengthen the tax rules for property
  • address child support penalties debt
  • increase the in-work tax credit and abatement rate
  • repeal the $1,000 KiwiSaver incentive payment
  • extra funding allocated to IRD to pursue aggressive tax planning; and
  • extra funding allocated to IRD to pursue property compliance and hidden economy initiatives.

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OMG Solutions social media 

Local Hawke's Bay business OMG Solutions, is helping kiwi businesses get smarter online by offering management and training in all things social media and digital marketing.  Business owner Kathleen Boyd has been operating over 12 months now, and says that there is hot demand from SMEs wanting to improve their online communications.  

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Unlike many other countries (e.g. Australia), there has historically not been a requirement for a New Zealand company to have a New Zealand resident director.

This has made it fairly easy for non-residents to set a company up in New Zealand and not have to engage a person in New Zealand to act as director for the company.

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How to become a millionaire retiree

How would you like to have a $1m nest-egg on retirement?  Think it's not possible?  Well you can, and you can still spend 80% of your income!  

Take a look at the table below and start saving now before it's too late!

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Marketing is a vital business activity yet generally misunderstood by many business owners. You may be fantastic at what you do but unless you can market yourself or your business you're unlikely to succeed as a business owner.

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