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Chartered Accountants

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

How collaboration can help grow your business

Posted on Apr 12, 2019 by admin

In a market that is full of entrepreneurs and small businesses, collaborating with a business that complements yours can be a powerful tool to share your marketing budget and be introduced to new audiences. Regardless of what industry you are in, combining resources and efforts with another business can enable you to easily reach goals and builds mutually beneficial connections.

Grow your network:
Making lasting connections with a target audience is the key to being successful. Partnering with other businesses can help expand your networks, introducing you to people that you may otherwise not have the opportunity to meet. Collaborating with others can enable expansion of your client portfolio and customer base, with each party benefiting from the other’s audience.

Educational:
One of the biggest benefits of business collaboration is the opportunity for learning. Every interaction with a business different from your own can give you insight into something you may not have considered before. With two parties bringing different skill sets, perspectives and strengths to the table, there are many opportunities for mutual learning and growth.

It is also worth considering that while there are many potential benefits, a number of risks may come with business partnerships. For example, cultural differences or clashes in business philosophies could occur and create conflict. You should be considering processes carefully before going ahead, and consult a financial or business advisor if you need further assistance.

I would like to confirm that Garry Hughes has been my accountant for some years now and I can honestly say that I would not consider changing accountants under any circumstances. I am a USA Citizen having retired to New Zealand, therefore I require both a USA tax return completed every year as required by Congressional law and a New Zealand tax return completed every year as required by New Zealand tax law. Obviously this becomes quite a professional understanding by Garry as to what must be reported by each country and the dead lines for reporting and paying. Garry Hughes always performs a totally professional task and I have to say that I have not run into any problems with the work Garry does. I would not consider another accountant.
W. Bruce Johnson

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Employer superannuation contribution tax (ESCT) refers to the tax that is taken from any cash contributions made to your employees’ superannuation accounts, including KiwiSaver. The rate of ESCT to deduct can vary for each staff member, making it necessary to ensure that you follow all of the required steps as an employer. Firstly, you must work out each employee’s ESCT rate, which is calculated based on the employee’s ESCT Threshold. For the employee’s income for the year ending 31 March, The ESCT rates from 1 April are: 10.5% for $0 to $16,800. 17.5% for $16,801 to $57,600. 30% for $57,601 […]

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