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Chartered Accountants

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

Why do people buy?

Posted on Nov 23, 2015 by editor

Most business owners are too busy producing products or running the day-to-day operations of their business, that they gradually lose touch with the real needs, desires, and choices of their customers. To increase sales and grow your business, you have to get inside your customers’ heads to work out their needs and wants. Not just the obvious ones, but the deeper needs and desires that compel them to make a purchase. Customers may think they need or want one thing, but sometimes they actually need or want something very different. Consider these four kinds of needs and desires that drive […]

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Who is your target market?

Posted on Nov 23, 2015 by editor

Having a clear definition of the exact type of customer your business is trying to reach can make the most of limited marketing dollars and have the biggest impact on your bottom line. Narrowing the type of customers you’d most like to reach (and the kind that are most likely to be willing, eager and able to buy from you) is a key building block to success. Defining your target market gives focus to all your marketing and sales activities, helps you craft your advertising messages and images, choose where and when to advertise and influences which distribution channels you […]

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Lending options for your business

Posted on Nov 23, 2015 by editor

Whether your business is experiencing sudden growth or financially struggling, it is crucial to manage your cash flow effectively. Cash flow gaps or being unable to access extra funds can put a real strain on a business. However, there are lending options available to businesses that can help with different cash flow needs. Before considering lending options, businesses should draft a cash-flow projection to predict their sales and expenses such as cash in, monthly loan repayments, stock levels, set-up costs, and fixed and variable expenses. Cash flow forecasts can help to prepare for best and worst-case scenarios while allocating what […]

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Getting the most out of Twitter for your business

Posted on Nov 18, 2015 by editor

Twitter is one of the most effective social media channels businesses can use to extend their reach to social media followers and boost their online conversions. The social media platform is mainly used for sharing and exchanging link content, and by sharing links to their blog or website, businesses on Twitter can generate awareness, connect with customers and drive product and service sales. Here are three tips for getting the most out of Twitter: Keep tweets short No matter if you business is using Twitter to organically grow the number of followers you have, or for advertising, it is important […]

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Dealing with workplace accidents

Posted on Nov 18, 2015 by editor

Despite a staff member’s or employer’s best intentions, there is always the chance that things can go wrong in the workplace. And when accidents do happen, it is important that businesses know how to respond and follow correct, lawful procedures. An important step is to report the injury to the workers compensation insurer as soon as possible. Often there is an excess to be paid if the report isn’t made within a certain time frame. Also, getting quick treatment for the injured employee helps them to return to work quickly, minimising the impact their absence would have on the business. […]

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Cash flow strategies for small businesses

Posted on Nov 15, 2015 by editor

Without profits and positive cash flow, a business is going to struggle to survive. This is why cash flow strategies should be taken seriously. Aim for long term financial stability When setting finance and cash flow goals for the business it is important to aim for long term stability.  Businesses should realistically assess how and when it wants to reach its long term goals. Don’t forget to consider customers who allow purchases on credit as it will help in forecasting how much cash is coming into the business and whether it will be enough to cover expenses. Profit first and […]

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Taking your business online

Posted on Nov 15, 2015 by editor

Building and maintaining a strong online business presence can increase a business’s sales, expand their customer reach and improve their overall conversion rate and cash flow. Recent online trends show that more and more internet users are making purchases through different digital channels, indicating that the online environment has turned into a thriving marketplace for businesses with smart online retail strategies. However, statistics also show that many online customers have a low tolerance for factors like slow, unreliable websites; as little as a three second delay can mean the difference between a happy customer and a lost customer. Many online […]

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What happens to your business if something happens to you?

Posted on Nov 15, 2015 by editor

For many entrepreneurs, their business is their most valuable asset. Yet they’ve done little to make sure its value is sustained if they’re out of commission. Even if you’re unavailable for a relatively short period of time, can your business keep going without you? On the most basic level, you want to make certain your business can continue if you’re merely indisposed. You don’t want to lose money just because no one has the authority to pay a bill or has the password to access your email. Ideally, it would be best if you don’t lose customers while you’re out […]

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When to get a business partner

Posted on Nov 5, 2015 by editor

Starting and running a business can be a lot more fun when you’re working with someone you like and respect. With a partner, you have someone to share the excitement and risks of running a company; someone to bounce ideas off of; to help shoulder the financial and work-load burden. But partnerships have perils. Over time, partners are likely to have disagreements, resentments, changing goals and lifestyle choices. Partners may also have conflicts about how to spend money, who to hire, which direction to take the company. When partners don’t get along, the business inevitably suffers. Before you get into […]

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Using KiwiSaver to purchase a home

Posted on Nov 5, 2015 by editor

The first-home withdrawal provision is one of four ways KiwiSavers can access their savings early. Its aim is to help first time home buyers living on a modest income to purchase a decent home. Those who have been a KiwiSaver member for at least three years may be eligible to withdraw their savings to put towards purchasing their first home. KiwiSaver also recognises people who have owned a home before but don’t now. To be eligible for the first-home withdrawal provision, a second-chance buyer must not have already withdrawn money from their KiwiSaver fund to buy a first home, and […]

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We have been with BDS Hughes Accountants nearly 5 years. Without their knowledge and forthright suggestions we would not been able to experience our high level of success. We are comfortable with the working relationship and ease with which they are able to communicate with us. As we as the normal accountancy service, Garry advised us on Xero accounting and taught us to uses the program in plain simple English. We can say only that we have had nothing but exceptional service and the advise we have received has been correct and perfect for our business, which is why i would not hesitate to recommend their services.
Wendy EvansDirectorThe Roof & Brick Shoppe

Latest news

Everything you need to know about payday filing

Posted on September 24, 2018 by BDS Hughes

From 1 April 2019 employers must comply with the new payday filing scheme. The due date for employer deductions filing and payment remains the same as the 20th of the month. Employers must: File employment information every payday instead of an Employer monthly schedule Provide new and departing employees’ address information, and their date of birth- if they have provided it to you File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50 000 or more. How to payday file Employers must Include employment information (and correct a file), employee details and employer deductions. It […]

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