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Chartered Accountants

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

Budgeting for growth

Posted on Feb 21, 2017 by editor

It may seem obvious that business growth can only occur when there is money available for reinvestment. However, many businesses do not consider this when budgeting and planning their long-term finances. One of the biggest impediments to growth is access to finances that will fuel the investments that are needed to support growth. Therefore, it is important that a business obtains healthy and robust profit margins to prepare for any future expansions. If a business is planning to fund investment in its own infrastructure it will only be able to do so with appropriate profit margins. Without this, the firm […]

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Improving your sales pitch

Posted on Feb 21, 2017 by editor

Getting a sales pitch right can be incredibly tricky as there are many things that you need to consider. Even the slightest moment of uncertainty or hesitation can cost you the customer’s trust, and you need to be able to think on your feet in order to respond to difficult questions. The benefits of having refined sales skills also go beyond dealing with customers. You can transfer these skills of persuasion into other areas of your professional life, for example, when dealing with employees, suppliers or investors. While the gift of the gab does come more naturally to some, the […]

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Discounting pricing strategies

Posted on Feb 21, 2017 by editor

Discounting is a popular pricing strategy and when used appropriately can help drive business growth. Discount pricing can help to maximise sales and profit by encouraging new sales from inactive customers, attracting new customers and encouraging undecided customers to purchase (i.e. limited time offers). Before discounting your products or services, it is a good idea to review your current profit margin, markup and breakeven point and determine whether discounting will help or hinder your business. Business owners should also consider their current market environment, such as competitor offers and pricing and the reasons why they may be experiencing a drop […]

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Improve your emotional intelligence

Posted on Feb 16, 2017 by editor

Emotional intelligence is a common component of success in the workplace. Both leaders and staff can benefit from improving their emotional intelligence; which is the ability to perceive, manage and control one’s emotions to communicate effectively. Individuals with high levels of emotional intelligence are shown to have improved health, relationships and productivity and therefore, better outcomes in both their personal and professional lives. Fortunately, emotional intelligence can be developed and improved. Here are three ways to increase your emotional intelligence: Learn self-awareness Understanding your emotions can go a long way in becoming a better communicator. It is important to understand […]

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Marketing habits to ditch in 2017

Posted on Feb 16, 2017 by editor

Ever-changing trends, increasing competition and changes in customer buying patterns are just a few reasons why business owners should review marketing efforts regularly. Past marketing activities that were once successful can easily go out of date. There are always new marketing techniques to experiment with but first it is important to let go of the marketing activities that are holding your business back. Here are three marketing habits to ditch in 2017: Wasting time on certain social channels Not all social media channels will deliver results. The reality is your target customers will most likely have a preference for certain […]

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Changes to online GST

Posted on Feb 16, 2017 by editor

Inland Revenue has introduced changes to help New Zealanders better manage their GST online. The changes to GST are the first of many changes over the next few years to make tax simpler. Here are some of the following changes: GST payments and returns – Pay your GST when you file your return without having to log out of myIR. – Make GST payments by direct debit, or by using your Visa or MasterCard credit or debit card. – Set up email and text message reminders when your GST return and payment is due or late, to avoid penalties. – […]

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Tips to get out of debt faster

Posted on Feb 8, 2017 by editor

An overwhelming majority of people will face debt at some point in their life. Uncontrolled debt can easily snowball and severely impact an individual’s lifestyle and financial freedom. Fortunately, debt is manageable and is often contingent upon an individual’s motivation to get rid of debt fast. Tackling debt is often a process of managing expenses against income and formulating a plan of attack. Here are three ways to get out of debt faster: Stick to a budget If you are looking to get out of debt quickly, it is critical to stick to a budget. A budget can help you […]

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The dangers of competing on price

Posted on Feb 8, 2017 by editor

A lot of businesses have a narrow focus on reducing their prices to keep business going, holding the belief that lower profit margins will be offset by an increase in volume. Unfortunately, this is a strategy that works for very few businesses, and in pursuing ever lower prices you made end up inadvertently damaging your business. Of course, you should remain aware of what your competitors are charging, and review your pricing structures regularly. However, you should remember that cheaper is not necessarily better and that there are a lot of other things that are important to your customers. Here […]

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Team building exercises

Posted on Feb 8, 2017 by editor

While hiring a group of people that work well in a team isn’t always easy, when you do, it can result in a more effective, productive and overall more successful workforce. To create a strong team of workers, some businesses turn to setting aside a day to undertake team building exercises to rally everyone together and break down communication barriers, overcome shyness, build confidence in one another and overall unite everyone together. Before engaging in team building exercises, businesses first need to establish the goal they wish to achieve from engaging in such activities. Many employers plan activities with no […]

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Benefits of a socially conscious business

Posted on Feb 1, 2017 by editor

Socially responsible business is becoming highly sought after by customers, staff and communities alike. Building a socially responsible business helps to set your business apart from competitors, improves your reputation and, ultimately, ensures your business is acting in an ethical and moral manner. Here are three key benefits of running a socially conscious business: Attract the right staff and customers Studies show an increasing amount of workers would like to work for a business that makes a social or environmental contribution. Prioritising social responsibility is one key way to communicate your business’ values and therefore attract talented staff who share […]

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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

Claiming expenses on work-related trips

Posted on December 21, 2017 by BDS Hughes

When travelling for business or paying for employee travel there are many daily expenses that can be claimed. Generally, you can claim for flights, taxis (or mileage if you use your own car), accommodation, meals and snacks when you are away from home on business travel. For work-related meetings, conferences or training courses that require an overnight stay, employers can claim the cost of accommodation. If an employee is working away from home for an extended period, you can claim for accommodation or any accommodation allowance paid providing it is for a period of no more than two years (or […]

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