Why you should become a company
The New Zealand company tax rate was reduced from 33 to 30 percent from the beginning of the 2008/2009 income year – usually 1 April 2008 for companies with a standard 31 March balance date.
This applies to companies and other entities defined as companies by the Income Tax Act, including incorporated societies and unit trusts.
You’ll [...]
Use your home as a genuine business deduction
Your home office is likely to be one of your biggest business deductions.
Ask any proactive tax accountant or business person and they’ll likely agree with me. Recorded properly, this is one of the all around best deductions dollar for dollar.
Since you probably work at home, quite a bit, you’ll be saving big money just by [...]
Why your bank account may not reflect the sales that you have made
If you are just starting out with your small business, it could be that you are not too comfortable with the “ins” and “outs” of financial management. You may have been misled into thinking that your bank account is a good way to measure the sales that your business has made in a certain period [...]
Identify your target market for the best results
Before you begin, you must understand one thing. No matter how much money you spend on your marketing strategy, your attempts will be fruitless if you are marketing to the wrong audience.
Before you implement any marketing strategy, first identify your target client.
Determine who wants and needs your product or service. This will ensure that your [...]
How to promote your business
As you know, customers are the lifeblood of your business. Without them, your business doesn’t stand a chance at success – and will crash and burn along with the many other small businesses that don’t survive their first five years. No matter how much time and money you spend on your marketing efforts, you will [...]
Do you walk the talk?
Christopher Reeve is a hero to many people. His unbelievable courage after a terrible accident was truly an inspiration to many. Here’s a quote from him that I admire:
“I think we all have a little voice inside us that will guide us…if we shut out all the noise and clutter from our lives and listen [...]
You Don’t have to Have all of the Answers; It is okay to Seek Help Once in a While
If you are too proud to ask for help in your business, you are missing out on many valuable learning opportunities. Mentoring is an essential tool to utilise in business. Mentors, business associates, friends and family can all provide valuable insight to assist you in your business success. Mentoring is one of the best sources [...]
Good financial management
Good financial management is essential to the survival and success of every business.
Unfortunately, many small business owners have relatively limited exposure to financial management and are unaware of how strategically important it is to their business’ performance.
In general, financial management deals with the procurement of funds for a business and the effective use of those [...]
Value your time as you can bet your customers won’t
Owning your own small business isn’t just a normal job, its 15 jobs or more all at once. You have to be your own PR specialist, marketing manager, bookkeeper, and receptionist in addition to the overseeing the primary product or service of your business – be it website design, marketing consulting, or pottery production.
It is [...]
Improve your business with key performance indicators (KPIs)
For those of you who are constantly looking for ways to better manage and improve your business, key performance indicators could prove to be a good solution. Key performance indicators, also known as KPI’s, are financial and non-financial measurements that help a business understand how much progress it has made in achieving its goals. Before [...]
