The Reserve Bank of New Zealand recently reduced the official cash rate (OCR) to 3.75%. What does a drop in interest rates mean for you, your business and your financial opportunities? Let’s take a look at how a drop in interest rates may affect your finances. Reduced cost of borrowing
From April 1, 2025, New Zealand’s minimum wage will increase to $23.50 per hour, a 35-cent rise from the current rate of $23.15. This change will affect around 141,900 workers who currently earn at or just above the minimum wage. The starting-out and training wages will also increase, reaching $18.80
Is your business model as solid and future-proof as you think it is? We’ve picked out five of the key threats that should be on your small business radar. Small businesses faced a number of challenges in 2024, with the business environment, globalisation, technological change and difficult economic conditions all
What are the key reports to focus on in your business? We'll show you how to track performance, take action and position your company for growth. As a business owner, it’s never been more important to have a good grasp on your finances. For many businesses, priorities have shifted, customer
There are specific challenges to running a family business. With the right governance measures in place, you can foster harmony and ensure the family business thrives. Running any kind of business is tough work. But when you add in the additional challenges of running a family business, things can begin to
Managing debtors efficiently is critical for businesses to maintain a steady cash flow and sustain operations. Poor management of debtors can lead to cash flow issues, which could affect a company’s ability to meet its obligations, grow, and invest in the future. Here are some strategies to help businesses manage
Tenancy agreements form the foundation of the landlord-tenant relationship, outlining the rights and responsibilities of both parties. Understanding the intricacies of tenancy agreements and recent legislative changes is crucial. There are two main types of tenancy agreements: fixed-term and periodic, each catering to different needs and preferences. Understanding the differences
We live in uncertain economic times, with operating costs still on the rise. By focusing on cutting expenses and growing revenue, you can stay ahead. A recent survey showed that 93% of respondents believed changes made by the Government had increased their cost of doing business. And rising costs can
Do you have a Family Trust? Is it still relevant? With between 300,000 and 500,000 Trusts in New Zealand, they’re clearly a popular way to protect assets. However, the Trusts Act 2019 came into force on 30 January 2021, bringing key changes to the way Trusts are run and imparts
Data is only powerful with context. It needs to be accurate and organised, and you need to be clear on the necessities vs the niceties. Raw data describes the facts and figures that a business processes every day. Over time, every business collects data and it becomes meaningful after it
