As a business owner, it’s never been more important to have a good grasp on your finances. For many businesses, priorities have changed, customer behaviours have mutated and revenue streams have had to evolve and pivot in order to maintain a profitable business model. To track, monitor and drive your financial performance in this updated business environment, it’s increasingly important to have a handle on your key financial reports and metrics. Getting to grips with your financial reports Whereas in the past, extra cash in the business may have been seen as a surplus that needed to be spent...

Cashflow and profit are two of the most important financial metrics for any business. But while they’re both related to the financial performance of a company, they measure different things. Knowing the difference – and how cash and profit contribute to your success story – is a vital skill if you want your business to have the best possible financial health. The difference between cashflow and profit Understanding the technicalities of financial reporting can be daunting as a new entrepreneur. And even seasoned business owners can find it hard work resonating with the various financial reports...

A business mentor can provide guidance and support, so you make the right decisions and stay focused on the end goal as a business owner. They can also help you move forward in your career by providing advice and feedback on what steps to take to reach the pinnacle of success. But have you ever thought of your accountant as a mentor? Why your accountant is the ideal mentor Having someone who understands your business journey is incredibly important. You might see an accountant as someone who files your tax returns. But, in fact, we’re experienced business owners, with access to a significant...

Turning a profit will be high on your list of goals as a business owner. And if you want to generate the best margins, that means keeping an eye on the money that’s going out of the business, as well as what’s coming in. So, how can your accountant help with this? The days where your accountant just did the bookkeeping, compiled your accounts and filed your tax return are well and truly over. Modern accounting firms are far more interested in helping you with your financial performance, your business strategy and offering flexible value-add services that put you in better control of your finances. If...

How well do you understand what drives your business revenue? We can help you review your numbers, identify your revenue drivers, and discover what could help grow your total revenue as a company. Understanding your revenue For your business to make money, you need to generate revenue. You produce revenue through your usual business activity — making sales, getting your invoices paid, or taking cash from paying customers. The better you are at selling your products or services and bringing money into the business, the higher your revenue levels will be. But what actually drives these revenue...

Working for yourself or running your own business? Set up robust systems for expenses & tax requirements so you can focus on your important tasks. We can help take the headaches out of your business accounting. Contracting or freelancing requires you to wear a lot of hats: relationship-building, keeping track of your time, marketing your skills, and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to understand what expenses you...

Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or working as a contractor. Costs have been rising, so it may be time to rethink your own pricing. Five signs you might be undercharging: Nobody ever questions your quotes – Do all your new clients accept your quotes or charges without asking any questions, requesting a breakdown, or wanting a discount? It’s possible they’re delighted to be getting such a great deal. You’re run off your feet but can’t afford to get help – When you’re working yourself to the bone, but there’s not enough...

Major changes to KiwiSaver were announced in Budget 2025. The KiwiSaver voluntary savings scheme is aimed at helping New Zealand workers save for retirement, or buy a first house. But with the rising cost of living, action was needed to make KiwiSaver fit for purpose and more fiscally sustainable as a savings scheme. How will these changes affect your employees and your small business? Let’s take a look at the details of these KiwiSaver changes. Changes affecting your employees First off, let’s outline how the initial changes announced in Budget 2025 will affect your employees and other Kiwi...

It’s a tough time to be in business. And especially so if you’re a mature, established business that’s finding it hard to keep pace in the rapidly changing and evolving market. As a mature owner, you have experience and knowledge on your side. But you’re also faced with the new realities of transformative AI technology, the threat of climate change and a global economy that’s increasingly unstable and unpredictable. Why are these challenges so problematic? Let’s look at the potential impact. A new business reality When you started out, the business world was a more predictable beast to tame....