Have you noticed the debtor days (the time it takes clients to pay) has slowly crept up in the last 12 months? Definitely a sign of the times as small businesses feels the pain of environmental and Government impact on the economy. I think it’s time to introduce some overdue debt etiquette..... Here’s my top 7 tips for debt etiquette.
"Tough times never last, but tough people do." – Robert H. Schuller
Resilience & Adaptability are crucial mindsets for business owners because challenges, setbacks, and unexpected changes are inevitable. The ability to bounce back from failures and adjust to new circumstances determines long-term success.
Business is unpredictable -stay flexible, adapt to challenges, and learn from failures.
As business owners, we all know that life has a funny way of throwing curveballs. Whether it’s a surprise equipment meltdown, an unexpected health scare, or a sudden drop in income, things rarely go according to plan. This is exactly why an emergency fund is not just a nice-to-have—it’s a must-have. Think of your emergency fund as the financial version of a fire extinguisher. You hope you never need it, but when you do, you’ll be glad it’s there. So, how do you decide how much to save, and where do you stash it, so you’re not tempted to spend it on "emergencies" like buying another fancy coffee machine for the office?
Taxes can feel like a constant burden, unexpected tax bills, stressful instalments, and the frustration of paying this year’s hard-earned profits for last year’s tax bill. But what if there was a better way?
Introducing the Accounting Income Method (AIM) a game-changer for small businesses in New Zealand.
AIM eliminates the guesswork and helps businesses with an annual turnover under $5 million pay tax only when they’re making a profit. No more worrying about overpaying, underpaying, or being caught off guard by surprise tax notices!
Does Your Company Need to Declare a Dividend Before the End of the Financial Year?
For businesses operating under a company structure, one key decision to make before the end of the next financial year (31 March 2025) is whether to declare a dividend. Understanding the role of retained earnings and the tax implications will help you to decide.
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