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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Improving your elevator pitch

Posted on Oct 26, 2015 by editor

An elevator pitch is the short description you can give about your business in the time it takes to ride an elevator. Your elevator pitch must be brief. It must say enough about what you do so people can easily understand and remember you. And, ideally, you want your elevator pitch to make a positive impression. It is not easy to develop an elevator pitch. It takes quite a bit of thinking to decide which aspects of your business to mention. Even more frustrating, you have to decide which parts of your company to leave out. Often these can be […]

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Growing your business with referrals

Posted on Oct 26, 2015 by editor

Most businesses benefit from “word-of-mouth” referrals. They are one of best way to get your name on the tip of everyone’s tongue, along with running a terrific business for many years. Here are a few tips that may speed up the referral process and increase the number of people who’ll remember your business the next time someone asks them for a referral: Remind customers you exist Keep your name and number in front of past customers so they won’t forget about you. Maintaining a mailing list database, and keep in touch regularly. Send postcards when you have special offers, write […]

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Analysing the competition

Posted on Oct 26, 2015 by editor

Many business owners spend too much time and energy worrying about what the competition is doing, instead of listening and responding to customers needs. But focusing on customers does not mean that you can just ignore the competition. From time-to-time, a review of who is doing what in your market segment can be a worthwhile exercise. Here are some easy ways to kick off your competitor analysis, all from the comfort of your computer. All you need to do is jump on the Internet. Competitors’ websites Don’t stop at the home page. Read the “About Us” section and review descriptions […]

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Rewarding employees doesn’t have to be expensive

Posted on Oct 21, 2015 by editor

Your business is only as good as your people – particularly for small businesses. No matter how good your product or service, it is the people in your company who determine whether customers are satisfied and orders are satisfied. That’s why it is critical to nurture and reward your employees. But that can be expensive. You may not be able to give raises as quickly as you or your employees would like or deserve. Here are some ideas for rewarding employees that won’t break the bank. Well days It is not uncommon for employees to call in sick when they […]

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Preventing a business burnout

Posted on Oct 21, 2015 by editor

If you’re the kind of business owner whose average working day consists of feeling anxious, exhausted, helpless or stressed, then you may be teetering on the very brink of burnout. Burnouts are a state of physical, emotional and mental exhaustion caused by excessive and prolonged stress. They usually occur when owners feel overwhelmed or unable to meet the constant demands of running and managing a business. In addition to negatively impacting on a business owner’s individual work performance, burnouts can also create secondhand stress for the owner’s employees or coworkers. While running a business can take up much of an […]

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Thinking about your cash flow

Posted on Oct 15, 2015 by editor

If the three most important things in real estate are “location, location, location,” the first three rules of business are “cash, cash, cash.” It is necessary to be profitable, but “profit” is a number that shows up on your accounts at the end of the year; cash is the money you have in the bank. In a small business, it is cash that determines whether you can pay your bills. Businesses can’t get money in unless they get their invoices out. However, many businesspeople delay sending out their bills. This may be because they feel uncomfortable asking someone for money, […]

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Attracting talent

Posted on Oct 15, 2015 by editor

Finding the ideal candidate in the hiring process can be timely and exhausting for some businesses. However, employers need to put in their best efforts during the recruitment stages to attract suitable staff. Problems can arise for employers when reviewing candidate’s skills, experience and cultural fit for the business. To help minimise these issues, implement a strategic plan from the beginning. A plan helps to gain insight into your business’s needs and the requirements of the newly advertised position. The hiring process can best demonstrate the level of care given to the recruitment of a new employee. The interview is […]

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Utilise your small team for success

Posted on Oct 15, 2015 by editor

Small teams provide many benefits to both employees and employers. In comparison to larger teams, small teams are shown to have higher levels of productivity and effective communication. However, a vital component to the success of these teams relates to the support and coordination provided by management. Ways to maximise your small team’s efforts can include: Cross-functional communication If your employees understand how the other functions of your business work and how their work will directly impact all aspects of the business, it can provide them with more responsibility. It allows for all staff to work towards a common goal. […]

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Tax implications for online businesses

Posted on Oct 11, 2015 by editor

Trading online is no different from running a business from a shop, or home. Here is a list of some factors to consider when running an online business; however, it is always a good idea to refer to a specialist. Filing an income tax return Generally a business income year is from 1 April to 31 March. At the end of the financial year, business owners will need to work out what their taxable profit is. It is recommended that an advisor or accountant assists with this step. Owners will also need to decide what business type their online activity […]

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KiwiSaver education campaign

Posted on Oct 11, 2015 by editor

Amid growing concerns over KiwiSavers not knowing enough about their money investments, the Financial Markets Authority plans to start a campaign to help KiwiSavers access the right information about their investments. The education campaign will begin in the next few months, and is designed to ensure all 2.5 million KiwiSavers have access to and receive better information about their KiwiSaver scheme. The campaign is a result of signs that have indicated not everyone has an appropriate understanding of the KiwiSaver scheme, with many people treating it as a short-term savings account, instead of a long-term investment. Lack of consistency among […]

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Chris and I would love to write this letter of reference. As business owners for 34 years we know how crucial it is to have the right professional people supporting you.Garry and Helen and their team at BDS Hughes have provided us with their accounting expertise for approximately 25 of those 34 years. Garry’s Business Development Services has taken us from small town business owners and grown us into a company capable of going nationwide and internationally with our products and services. His business acumen and professionalism has provided us with all aspects of accountancy services and financial support and advice. With his team he has given us very sound and timely training, keeping us on track through the highs and lows each year brings. As an ongoing family-based business, we have had the challenge of staying focused and looking to the future for all involved, our business team and family. Business planning and mentoring has allowed us to keep up-to-date and moving forward as well as introducing a succession plan. Garry and Helen share similar family values and know the challenges of fitting work and family time into busy and demanding schedules. We highly value the professional relationship we have built with them over these past years and know we have a lasting friendship as well.
Chris & Shirley HawkingsCEO and COLMad Supporters of Waikato Rugby

Latest news

Heavy fines for lack of employment records

Posted on December 7, 2018 by BDS Hughes

Employers must keep complete and accurate records of their employees to avoid severe fines. Remain compliant with the Employment Relations Act 2000 and the Holidays Act 2003 and follow the checklist given below. As an employer you must: Be able to show you have paid your employees all minimum employment entitlements like the minimum wage rate and four weeks’ annual holidays Keep records with the name, age, address, and date employees started working, what their job entails, public holiday payments and tax declarations Keep records for seven years even if they have left Ensure all employees have complete and current […]

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