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Chartered Accountants

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

Managing your wellbeing and your business

Posted on Feb 16, 2018 by admin

Being an entrepreneur and owning your own business is very time consuming; if you aren’t mindful, it can impact negatively on your wellbeing. Morning routine Having a morning routine is important. Structure to begin the day, before you start work brings familiarity and sets the tone for each day; it gets you in the zone. Everyone will have their own individual routine that works for them, but some good things to consider including in yours consist of: Morning meditation Going for a walk or exercising Reading something academic for 10 minutes Having breakfast with your significant other Checking emails before […]

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The secrets of giving feedback

Posted on Feb 16, 2018 by admin

Providing feedback is a necessary part of any business. Providing effective feedback can make a significant difference to your employees, their job satisfaction and retention rates. Consider the following secrets to giving effective feedback when it comes to your business and your employees: Time appropriate When providing feedback, it needs to be timely. It is counterintuitive to give feedback to an individual a week later or even a few days later. It’s best to do it as soon as possible. In saying this, there is a time and place for specific kinds of feedback. You shouldn’t give feedback directed solely […]

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Making the most of share market volatility

Posted on Feb 16, 2018 by admin

When share markets drop, it is not uncommon for investors to feel threatened and anxious about their investments. Luckily, there are strategies you can adopt when share markets fluctuate, in order to use the volatility to your advantage. Consider the following: Patience One of the greatest tools you can have when it comes to investing, in any market, is patience. Many investors react when there’s market volatility and start shifting their money and pulling their investments, ultimately resulting in them losing their money. You need to be patient and understand that the nature of share markets is for them to […]

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Tips for maximising business cash flow

Posted on Feb 6, 2018 by admin

The ability to manage cash flow is a critical tool for business owners. Incorporate the following cash flow tricks to keep the money coming in and the business running smoothly. Make payment easy One of the easiest ways to make sure cash flow remains consistent is to make methods of payment easy. When a business or customer attempts to pay you, the process should be straightforward and effortless. If it isn’t, people you do business with will remember it as a nuisance and are more inclined to put it off. If you need certain paperwork filled out to be paid, […]

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Tips for entrepreneurial success

Posted on Feb 6, 2018 by admin

While all businesses differ, there are strategies entrepreneurs can use across the board to improve the likelihood of long-lasting success. Consider the following tips: Diversity Hiring a diverse team is a great strategy for achieving success. To be able to reach the greatest audience in a truly authentic way, you have to be able to think and feel the way your customers would. There is no better way to do this than to hire, engage with and learn from diverse individuals. Take advantage of the broad experiences and talents of those applying for jobs, and think about how individuality can […]

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How to avoid failing

Posted on Feb 6, 2018 by admin

In any business environment, there are constant challenges that can see you fail or can be tools for success. Channelling these challenges and turning them into strengths is necessary. Consider the following failures business owners commonly make and reflect on how these apply to your business: Multitasking For a lengthy period, the ability to multitask has been seen as a sort after skill. With the growth of technology and its emergence into every aspect of our lives, research is now suggesting that the ability to single task is becoming more and more important. The ability to focus in on one […]

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Qualities of an awesome leader

Posted on Feb 2, 2018 by admin

While there are infinite qualities that make good leaders, there are a select handful of qualities that set specific leaders apart from others and make them great. Consider the following qualities: Resourcefulness Being resourceful is one of the single greatest assets you can possess as a leader. The ability to look at what you have and make it work for a number of different business situations is a strength. Great leaders don’t necessarily have all the answers, but they know how and when to seek the advice of others; making them more powerful than an individual who tries to solve […]

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Setting clear marketing goals

Posted on Feb 2, 2018 by admin

Setting clear and direct marketing goals is an ideal strategy for promoting your business and business growth. There are a number of different goals you can set to ensure you are optimising your marketing opportunities; consider the following: SWOT analysis Before setting any goals, it is important to understand the purpose behind your marketing strategy; that is why you are doing what you are doing and what you wish to achieve by doing so. A great way to do this is to conduct a SWOT analysis, which will allow you to identify the strengths and weaknesses of your business, as […]

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Short term rentals: the basics

Posted on Feb 2, 2018 by admin

Entering into the short-term rental field can be a very lucrative decision, but there are considerations to be made. To ensure you cover all bases and don’t find yourself caught out financially, make sure you understand the following: Tax obligations Remaining compliant in terms of your tax obligations when you rent your property as a short-term rental is important. According to the New Zealand Government, you: – Must include income generated through providing accommodation on an Individual tax return (IR3). This is due by July 7th each year. – Must keep clear and accurate details of all income and expenses […]

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Cash flow tips to improve your business

Posted on Jan 24, 2018 by admin

Poor cash flow is one of the biggest reasons why small businesses fail. A healthy cash flow allows you to operate your business free of hassle; allowing you to pay your staff and bills on time. Having enough working capital to meet your business’ needs can help you stay out of debt and in business. Consider these three tips to improve your business’ cash flow: Create a forecast Predict your sales and outgoing expenses for the year. You may do this by looking at last year’s sales figures and adjust accordingly. When estimating inflow, account for GST rebates, tax refunds, […]

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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

Making the most of share market volatility

Posted on February 16, 2018 by BDS Hughes

When share markets drop, it is not uncommon for investors to feel threatened and anxious about their investments. Luckily, there are strategies you can adopt when share markets fluctuate, in order to use the volatility to your advantage. Consider the following: Patience One of the greatest tools you can have when it comes to investing, in any market, is patience. Many investors react when there’s market volatility and start shifting their money and pulling their investments, ultimately resulting in them losing their money. You need to be patient and understand that the nature of share markets is for them to […]

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E: GARRY@BDSHUGHES.CO.NZ