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Business

Business size categories in New Zealand: Definitions and why they matter

September 15, 2021

What does a “medium” business look like? Understanding how various organisations define business size categories is important for several reasons. New Zealand is a nation of small and micro businesses representing more than 97 percent of all firms. They account for 28 pe...

Safeguarding your business against unexpected disruption

April 20, 2021

Crisis management seems to have become a core skill for the modern business owner — how prepared are you in the case of emergency?Whether it’s lockdowns, earthquakes or like a client of mine in Napier, NZ (the recent flooding), it matters not; business owners need to...

10 things you must consider before buying a business

March 18, 2021

Before you come close to signing on the dotted line, there are 10 important factors to consider closely, writes accountant and business advisor Nick Roberts.Starting a business from scratch and going without income in the initial period can be a daunting prospect, so it’s ...

7 Key Considerations for Taking a Business Online

March 3, 2021

From figuring out what you do to goalsetting – here are your top priorities to help you hit the ground running. Starting and running a successful small business can be the most amazing opportunity to gain independence and build wealth, yet it can be very risky because of t...

How to Exit Your Business

November 7, 2020

I meet many business owners who haven’t given a lot of thought to what their longer term plans are. Often they are continually bogged down in the daily routine and don’t take the time out to plan for the future. When I ask ‘what do you want to be doing in 5 to 10 year ...

Fatal Mistakes to New Business Survival

July 12, 2020

In 37 years of advising new business owners the biggest single mistake that I keep seeing is to start a new business without having enough working capital to see them through to when the business is better established. The best form of working capital is cash in the bank. Bo...

Business Planning - Where is Your Business Now?

June 22, 2020

In order to get your business to where you want it to be you must first determine where it is now, as otherwise, you won’t know how much work you have to do to improve and nor can you set goals or action strategies, because firstly, the goals have to be realistic in achiev...

Business Planning - Bridging the Gap

September 21, 2019

Once you’ve established where your business is now and secondly, where you want to get it to, you need to sit down and work out how you’re going to bridge the gap between the two. If the gap is large, it may seem like where you want to get to is just too hard to reach. T...

Break-Even Point Analysis

June 25, 2019

The term “Break-Even Point” refers to the level of sales necessary to cover all expenses i.e. the point of no profit or loss. To calculate this, you need the following: Your expensesYour salesYour gross profit percentage which is your gross profit (sales less your cost o...

Your Ideal Customer Or Client

June 10, 2019

Every business owner should be focused on his or her prospective customers. The ability to find a customer, sell your product or service to that customer, and satisfy the customer so that he/she buys from you again should be the central focus of all your business a...

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