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Chartered Accountants

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

Analysing the competition

Posted on Apr 27, 2018 by admin

Many business owners spend too much time and energy worrying about what their competitors are doing without much consideration of their customers’ needs. From time-to-time, a review of who is doing what in your market segment can be a worthwhile exercise if it is completed thoroughly. If you approach competitive analysis as an opportunity to learn, you may find ways to enhance your products or services, or at least improve your marketing and connect with your customers better. Here are some easy ways to kick off your competitor analysis, all from the comfort of your computer. Competitors’ websites Don’t stop […]

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Succeed in the workplace

Posted on Apr 27, 2018 by admin

Although workplaces require different skills and personality traits to fit into the role and culture of the business, there are some universal attributes that can help you succeed in the workplace. Consider the following: Effective communication skills Having effective communication skills is critical as it determines how well you get along with colleagues, management and other stakeholders in the business. Verbal and nonverbal communication skills are key, i.e., active listening, maintaining eye contact, articulate speech, excellent writing skills and good phone manner. Planning and organisation Setting SMART goals in the workplace can help you to achieve more success. However, these […]

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Should you use a personal loan?

Posted on Apr 18, 2018 by admin

A personal loan can come in handy if you need some extra cash to fund a purchase, but it may not always be your best option. Before you sign away, you will need to understand how personal loans work and if they are appropriate for your circumstances. A personal loan is when a person borrows a set amount of money over a time period, along with interest, fees and charges from a credit provider. There are generally two types of loans: secured and unsecured. Secured loans are secured by an asset, i.e., a car or home, in the case you […]

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How to create a ‘newsworthy’ business

Posted on Apr 18, 2018 by admin

Media coverage can be an excellent way to gain publicity without affecting your bottom-line, if you are a small business owner on a tight budget. Unlike paid advertisements, media outlets publish to a wide targeted audience predominantly interested in reading or viewing an engaging news story, with a convenient focus on your business. To successfully pitch your story to a network or publication, be aware of what subjects the media consider to be news. Here are three ways to create newsworthy stories that can provide positive and free publicity to grow your business. Ask yourself if you are offering a […]

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Succeed in sales

Posted on Apr 18, 2018 by admin

Closing a sale is the end goal for many business owners but often knowing how to close the deal is a challenge. Here are three ways to improve your sales approach: Remove your agenda A sales prospect can usually identify when a salesperson is running off an agenda. The salesperson comes across as pushy, they don’t match the prospect’s concerns with the product or service on offer, and they don’t give the prospect much time to talk. This approach can appear insincere and impersonal, thereby creating the opposite effect and driving the prospect away. Ask questions Dive into the prospect’s […]

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Drive traffic to your website

Posted on Apr 16, 2018 by admin

If you want your business to be successful online, you need to direct a steady flow of relevant traffic towards your website. The more traffic your website gets, the more popular it becomes, and the more popular it becomes, the more successful your business will be. Or so it may seem. There is no doubt that website traffic is a very important aspect when determining the success of an online business, however just because a website receives a large amount of traffic doesn’t always mean this is beneficial. Traffic is important, but not all traffic is necessarily good. What online […]

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How to improve efficiency

Posted on Apr 16, 2018 by admin

Efficient businesses create more with less. They are driven by highly-motivated employees and inspirational leaders. They understand the power of time-management, organisation, and most importantly, managing their resources. To improve the efficiency in your small business, consider the following: “Eat the frog” Starting your day by “eating the frog first” helps to tick off the important items on your to-do list and avoid procrastination. Completing your hardest or most urgent task first is critical in developing self-discipline and meeting your deadlines. Once you do “eat the frog” all subsequent tasks will seem a lot easier and manageable, helping to get […]

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Changes to provisional tax

Posted on Apr 16, 2018 by admin

Small businesses, sole traders and contractors can choose a new pay-as-you-earn option rather than paying provisional tax instalments several times a year as changes to pay-as-you-earn tax have come into place this April. The changes were made to help small businesses pay provisional tax based on their cash flow rather than the previous year’s earnings or estimated earnings for the current year. Paying provisional tax as you earn profit provides more certainty about cash flow. This new method is known as the Accounting Income Method (AIM). It is optional and only available for businesses with an annual turnover of less […]

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Risks of investing in cryptocurrencies

Posted on Apr 6, 2018 by admin

Bitcoin experienced its worst first quarter in history in 2018, falling from $13,412.44 to $6,928.85 in the three months to 31 March. Bitcoin, among other cryptocurrencies, are slowing down with market values expected to plummet further. The highly volatile nature of cryptocurrencies means investors need to be aware of the risks before deciding to invest in digital currencies. Consider the following risks: Fluctuating values Market values can fluctuate quite dramatically as its value is based on its popularity at a given time. Regulatory threats and the likes of Google, Facebook and Twitter banning cryptocurrency advertisements recently can have all contributed […]

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Creating a productive work environment

Posted on Apr 6, 2018 by admin

A productive workplace is fuelled by a supportive environment, healthy culture and a great atmosphere. Business owners are responsible for ensuring their business incorporates these elements and that they transcend through to their staff. Here are four tips to improve your work environment for optimal productivity and success: Don’t micromanage staff Trust in your staff to do their job well. Constantly watching over their shoulders and trying to take control of their work does not give them responsibility and ownership over their work nor does it allow for autonomous work. If your staff don’t feel like you trust them, it […]

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For many years now Garry Hughes of BDS Hughes Chartered Accountancy and his team have provided us with an exceptional professional service. We have found Garry‘s knowledge in his field of taxation, business planning and financial matters of great value to us, along with providing us additional recommendations for improving our business strategies. We would recommend their friendly and professional services to anyone who is looking for an accountancy service that will improve their business performance.
Jane HandleyDirector Rug Doctor

Latest news

Introduction of Best Start

Posted on July 5, 2018 by BDS Hughes

From 1 July 2018, eligible parents who have a baby born on or after 1 July 2018 will receive a Best Start payment of $60 per child. Eligible individuals will receive $60 a week until the baby turns one regardless of household income. For those with a household income of less than $79,000, you will receive $60 a week until the child turns three. The eligibility requirements are as follows: – You must be the principal caregiver of the child – You must be a New Zealand resident or citizen and have been in New Zealand for a continuous period […]

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