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Chartered Accountants

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

A guide to performance reviews

Posted on Dec 21, 2016 by editor

When carried out effectively, formalised performance reviews can be beneficial for both you and your employees. It is an opportunity for you to demonstrate how much you appreciate your employees’ contributions and undertake collaborative reflection on potential business improvements. However, there are a lot of potential pitfalls that can undermine the effectiveness of performance reviews, sometimes even resulting in negative outcomes. If the review is unfocused it will fail to bring about any tangible results, which can lead to anxiety, confusion and occasionally even job dissatisfaction. Additionally, unproductive performance reviews can be a waste of valuable resources. Here are some […]

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Sales strategies for 2017

Posted on Dec 21, 2016 by editor

The New Year is a good time to reflect on the past year and focus on goals for performing better in the year ahead. In particular, it is a great opportunity to reflect on your business’ marketing plan and set forward new strategies to hit the ground running. Increasing sales and revenue is usually a top priority for small business owners. Here are three strategies to help improve sales in 2017: Incorporate customer feedback Sharing positive feedback from customers is a great way to demonstrate credibility and gain the trust of prospective customers. Asking customers for feedback via customer satisfaction […]

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Faster GST refunds

Posted on Dec 21, 2016 by editor

From February 2017, New Zealand businesses will have faster access to GST refunds after a change made to tax rules. The Minister of Revenue Michael Woodhouse has announced GST refunds will be available to the taxpayer in just two days by direct credit. The Tax Administration (Direct Credit of GST Refunds) Order 2016 will make it compulsory for Inland Revenue to provide GST refunds by direct credit to a taxpayer’s identified account. The current process uses a cheque from Inland Revenue which takes an average of 10 days to become available. The change comes as a result of extensive public […]

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Optimising your LinkedIn

Posted on Dec 15, 2016 by editor

Having an optimised LinkedIn profile is key to gaining maximum online visibility and revenue through the professional social network. With more than 400 million users worldwide, LinkedIn is arguably the most valuable social media platform for business recruiting, networking and business-to-business (B2B) marketing. The online site can also be used as an educational resource since users can learn from interacting with other professionals through group discussions, conversations and networking. Like all social media sites, LinkedIn is a crowded platform, so putting in a little extra effort to stand out can go a long way. Here are some tips for business […]

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Improving your accounts receivable

Posted on Dec 15, 2016 by editor

Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working capital is by managing your accounts receivable. Many businesses fall into the trap of poor accounts receivable management – from extending credit to customers to ignoring payment terms to guarantee a new sale, these types of behaviour can quickly bring your cash flow to a halt. Here are a few ways to improve your accounts receivable process: Create a clear customer credit approval policy Assign credit limits, payment terms, discounts and return policies to specific customers. Introduce a system to […]

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Benefits of a flexible working space

Posted on Dec 15, 2016 by editor

Although flexible work spaces are not suitable for everyone or every business, there are significant benefits to offering flexible working arrangements. Businesses can deliver better results from allowing employees to work from where they need – whether it be home, a cafe or even on their daily commute. Flexible working can increase employee productivity as it gives employees the option to determine their best working arrangement to meet their personal needs. This can lead to higher levels of engagement, commitment to the business and more motivation to achieve results. Offering flexible working arrangements can also help when looking to recruit […]

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The benefits of coworking spaces

Posted on Dec 6, 2016 by editor

If your small business is struggling to find a property for your office that is both within your price range and in a suitable location, it may be a good idea to consider the benefits of relocating to a coworking space. A coworking space is basically a shared office space where multiple businesses can work under the same roof. Not only can it be a cheaper alternative to working in a traditional one business only office, it can also help expand an entrepreneur’s professional network and help create new business opportunities. Coworking spaces have also been proven to increase productivity […]

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What’s in a name?

Posted on Dec 6, 2016 by editor

The name of your business can have a quite an impact when it comes to marketing your brand, how you are perceived by customers and whether or not you stand out from the competition. Strong business names send a clear message to the public to help customers identify with the business. They also make a business stand out from the competition. When choosing a new business name or tweaking an old one, business owners should try and choose a short and punchy name that is easy to remember. Consider the success of brands like Nike, Apple and Twitter – companies […]

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Contributing to KiwiSaver

Posted on Dec 6, 2016 by editor

Making contributions to KiwiSaver is quite easy, especially for those who are employed. When you are employed, your employer deducts contributions directly from your pay and sends them to Inland Revenue. Employees can choose to contribute either 3 per cent, 4 per cent or 8 per cent of their before-tax pay.  For those who don’t choose an amount, the default rate of 3 per cent will apply. KiwiSaver contributions are deducted from a person’s salary or wages. This includes allowances; bonuses; commission; extra salary; overtime; gratuities and any other remuneration of any kind before tax. Those who are unemployed can […]

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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

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KiwiSaver benefits

Posted on February 7, 2019 by BDS Hughes

A KiwiSaver account is a great resource for compiling and saving for your retirement and future security. It is a voluntary, government-run initiative designed to help you financially plan ahead, but what exactly are the benefits? Here are a few ways having a KiwiSaver account would aid you throughout your life. Member Tax Credit:This credit depends on how much you deposit into your account each year. The government will pay 50 cents to every dollar up until you’ve reached the maximum government payment of $521.43.The government will help you save by making an annual contribution to your account as long […]

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