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Chartered Accountants

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

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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Public speaking tips to win over a crowd

Posted on Apr 6, 2018 by admin

For a lot of people, public speaking isn’t their most strongest suit. But for many business owners, public speaking is inevitable at some point in their working career. Public speaking can provide generous opportunities to connect with more people and share your own experiences and knowledge. It is an excellent way to establish yourself in your industry and wider community and can offer many benefits for your business. Next time you are asked to speak in public, don’t baulk at the opportunity; instead, use these tips to improve your public speaking skills and confidence: Start off strong An anecdote or […]

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Cutting down your marketing costs

Posted on Mar 28, 2018 by admin

When business is struggling, one of the first places business owners look to cut costs is in their marketing efforts. Although many do not view marketing as an essential element, it can create immense value for a business. Fortunately, there are still ways to market your business on a tight budget, forging the need to get rid of your marketing completely. Consider the following tips for lowering your marketing costs: Public relations Public relations, or PR, is an effective way of getting your business out in the community but at a low cost. Some effective PR tactics include writing articles […]

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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

Changes to provisional tax

Posted on April 16, 2018 by BDS Hughes

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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E: GARRY@BDSHUGHES.CO.NZ