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Chartered Accountants

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

Financial checklist before you die

Posted on May 30, 2018 by admin

While preparing for a time when you are gone can be morbid, sorting out your financial matters now will help to protect your loved ones later on. Take a look at these considerations. Do you have an up-to-date Will? Make sure you have a valid and current Will in place. A Will clarifies how you wish your estate to be distributed and should be updated to reflect your current circumstances. Are your documents in a safe and secure place? Gather your important financial documents and store them in a secure file. Make sure the executor handling your estate will access […]

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How to turn around a bad work day

Posted on May 30, 2018 by admin

Bad days can happen to the best of us, but before you throw in the towel and call it a day, consider how your mindset may be influencing your attitude. Here are three ways to shake off a lousy day in the office: Refrain from gossiping You have control over your own reactions, so instead of venting to your colleagues or gossiping away, stand back and let your emotions pass. Strong emotions such as anger can see you act out instead of thinking a problem through. Try to observe the problem through an objective lens before discussing it with colleagues […]

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Expenses that could shut down your start-up

Posted on May 30, 2018 by admin

Launching a new business is a challenge that requires a lot of capital and careful planning. However, many entrepreneurs fail to plan sufficiently for all their future expenses, resulting in filing for bankruptcy within two to five years of operation. Consider these expenses when planning your new business venture and budgeting for your cash flow. Interest fees You may want to take out a loan with the bank to generate cash flow for your new business. However, it is essential to plan for the additional expense of interest fees and read the terms and conditions of any loan before signing […]

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Turn small talk into artful conversation

Posted on May 25, 2018 by admin

Though small talk may seem like pointless chit-chat, when done well it can have real value and purpose in moving your business forward. Successful entrepreneurs network and know the value of small talk. Small talk is a tool you can use to initiate conversation, create a positive impression and build a connection with a prospective business partner or client. To master the art of small talk, consider these handy tips. Find common ground Introduce a relevant topic or event recently featured in the news. Avoid controversial topics like politics and religion. Ask them questions about themselves Always use open-ended questions. […]

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Using storytelling to build your brand

Posted on May 25, 2018 by admin

Storytelling taps into your customers’ emotions, builds trust and can help form a stronger connection with your audience. Many businesses are now using their business’ story in their marketing efforts to engage their current customer base and attract new customers to their brand. Here are three ways to incorporate storytelling into your business’ marketing: Share your story Where did your business start? Talk your audience through your beginnings, including where your idea to start the business came from and how the business unfolded over time. Explain your approach to your business, your mission, highlights, and stories where your business made […]

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Registering for GST

Posted on May 25, 2018 by admin

Businesses need to register for GST once they earn more than $60,000 in 12 months. Penalties may be enforced if businesses do not register when they are required. This applies to all business structures including sole traders, contractors, those in a partnership and companies. Although business owners need not register if they do not think they will turnover that much, voluntary registration means you may be able to claim a GST refund. Once you register, you must complete regular GST returns. When registering, you must decide on how often you will file returns, i.e., monthly, two-monthly or six-monthly. You will […]

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How to spot a fake loan

Posted on May 17, 2018 by admin

When shopping around for a personal loan, it is wise to be conscious of any potential scammers that may try and offer you a deal that sounds too good to be true. Though a loan may look legitimate from a first glance, there are various tell-tale signs to watch out for to spot a fraudulent loan. When applying for a loan, be wary if your lender: – does not evaluate your credit report before approving your loan – calls or emails you to advise that you are a candidate for a loan – asks for an initial fee to be […]

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Making a good first impression

Posted on May 17, 2018 by admin

First impressions are always important, especially in the business world. The impression you give could jeopardise or land you a new client, supplier, or even help you pitch a new idea or product. Consider the following techniques to ensure you make a positive first impression: Etiquette Manners are a crucial factor in making a good impression. Turning up late, interrupting the other person when they are talking, and boasting is a surefire way of scaring off a new connection. Instead, be punctual, adapt to the situation, and try to copy the other person’s body language by mimicking their posture/stance, nodding […]

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Why your business needs a mission statement

Posted on May 17, 2018 by admin

A compelling mission statement will give your small business the purpose it needs to grow. In just a few clear and succinct sentences the statement should announce your driving business strategy. However, it is not enough to merely generate a statement and slap it on your website. A mission statement will do little to impact your business unless you take active measures to embed its ideology into the workplace culture. Apply your mission statement as a guiding principle when making any strategic decisions at management level. This approach will influence you and your team to plan long-term by focusing core […]

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Finance tips for first-time entrepreneurs

Posted on May 11, 2018 by admin

Starting a new business is a big commitment. There are many financial factors a first-time entrepreneur must consider if they are aiming to create a long-term business. Check your personal credit score Funding a new business will depend upon what state your personal credit score is in. A low credit score may stop you from acquiring a business loan. Banks assess an individual’s credit history to help determine whether they could be a good or bad investment. Set short-term financial goals Long-term goals are vague and take considerable time and hard work to accomplish. The most effective way to realise […]

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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

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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E: GARRY@BDSHUGHES.CO.NZ