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Chartered Accountants

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

Payday loan apps and websites; the pros and cons

Posted on Feb 14, 2019 by admin

Personal loans have become a fast-growing financing option for consumers, with payday apps and websites gaining popularity. For aid between paychecks, payday loans can be very helpful for the pay cycle lull. Taking out a loan is not something to enter into lightly though, there are many variables that should go into your decision-making process. Here are a few pros and cons you should consider before taking out a payday loan Pros:Payday loans are named as such because they are basically instant. Once applied, your loan is usually processed and paid out on the same day. This is very helpful […]

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Creating a positive business culture

Posted on Feb 14, 2019 by admin

Business culture is a reflection of what your company stands for, it’s your voice. Employee relations are what establishes this voice and can always be improved. A work environment that everyone enjoys can help to improve performance and productivity. Here are some ways you can help better the culture of your business Vision:For a business culture to be established, as the employer you must first decide what that voice will be. Having a clear direction for your business practices is common but for community in the office, a vision for your business culture will help the process. It is your […]

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What we can learn from ‘introverted’ people

Posted on Feb 7, 2019 by admin

Most of us fall somewhere in between the introvert-extrovert spectrum but our concept of a great leader often looks to someone who exudes characteristics we often associate with ‘extroverts’ – including being charismatic, confident, and courageous. While these traits are indeed admirable and can be essential to motivate and drive your team, recent research surprisingly suggests ‘introverts’ tend to be better CEOs. In light of this research, we look at some often overlooked traits to expand your concept of great business leadership. Taking the time to be introspective:Ensure you don’t underestimate the value of taking the time to self-reflect on […]

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KiwiSaver benefits

Posted on Feb 7, 2019 by admin

A KiwiSaver account is a great resource for compiling and saving for your retirement and future security. It is a voluntary, government-run initiative designed to help you financially plan ahead, but what exactly are the benefits? Here are a few ways having a KiwiSaver account would aid you throughout your life. Member Tax Credit:This credit depends on how much you deposit into your account each year. The government will pay 50 cents to every dollar up until you’ve reached the maximum government payment of $521.43.The government will help you save by making an annual contribution to your account as long […]

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E-commerce and income tax

Posted on Jan 31, 2019 by admin

In 2015, New Zealanders spent an estimated $3.5 billion in goods and $1.2 billion in services online. With the growth of online shopping, rates having increased considerably year by year. How does tapping into the digital economy affect how you manage your business’ taxes? Double Taxation:As a considerable number of online businesses undertake trade overseas, your business’ income may be subject to tax in both New Zealand and abroad. This can occur when areas of your business’ operations are undertaken in both New Zealand and in another country. However, you may be eligible for a tax credit if New Zealand […]

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Does your business idea have potential?

Posted on Dec 20, 2018 by admin

Successful entrepreneurs capitalise on the right ideas at the right time. However, working out if your idea has potential is easier said than done. Assess the quality of your business ideas with this checklist. Does it solve a problem?Start-ups that provide a solution to market problems will succeed. Whether it be efficiency, customer service or the quality of a product, your idea should improve something in your industry. Does it fill a gap in the market?A brilliant idea will never be successful in practice if there is no demand for it. Find a demographic whose needs are not being met […]

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Hiring high potential staff

Posted on Dec 20, 2018 by admin

Your business is only as good as your staff, which is why you want to hire high potential employees. You may find it hard to spot a high potential candidate in an interview. Our tips will tell you what to look for and ask when you are recruiting. High potential employee traitsA common set of characteristics can identify high potential employees. These candidates will: Have leadership qualities Take on extra responsibility Be team players Think outside the box Solve problems Have a passion for their industry Spotting high potential employees in an interviewIn an interview, you can identify an employee […]

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Improving cash flow for your business

Posted on Dec 14, 2018 by admin

Cash flow can be an issue for small businesses, especially if you have peak and low periods. Follow these tips to improve your cash flow and avoid running into a tight financial spot. Flexible rosteringYour staffing may need to change in peak and low periods. By employing casuals and using a flexible roster, you can cut back on hours when you need to improve your cash flow in quiet periods. Monitor stock levelsExcess stock levels will increase the storage space you need, insurance costs and tie up your cash. Monitor your stock levels so you can find the most efficient […]

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Benefits of standing meetings

Posted on Dec 14, 2018 by admin

Stand-up meetings boost productivity and workplace cooperation. Here are some benefits of holding your meetings standing up. Improves efficiencyStand-up meetings improve efficiency. The mentality of standing up encourages urgency and alertness. A seated posture can lead to a relaxed mindset that can inhibit productivity. Studies have shown that standing up at your meeting can decrease meeting times up to 34 per cent. Strengthens focusStand-up meetings eliminate digital distractions. When your employees are sitting down they are far more likely to answer emails in meeting lulls, be distracted by your staff’s online messaging service or check personal messages. When your meetings […]

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Personalising your business brand

Posted on Dec 14, 2018 by admin

Personalising your business brand attracts new customers by establishing authenticity and a point of difference. Follow these tips to improve your marketing and create a unique brand true to yourself. Put a face to the nameThe best way to add a personal touch to your brand is to be human. Adding a team graphic to your website, business cards or advertising will share your business’ personality with your potential and current customers. For small business customers, seeing the people behind the good or service they are consuming builds trust and intimacy that can set you apart from your competitors. Engage […]

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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

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KiwiSaver benefits

Posted on February 7, 2019 by BDS Hughes

A KiwiSaver account is a great resource for compiling and saving for your retirement and future security. It is a voluntary, government-run initiative designed to help you financially plan ahead, but what exactly are the benefits? Here are a few ways having a KiwiSaver account would aid you throughout your life. Member Tax Credit:This credit depends on how much you deposit into your account each year. The government will pay 50 cents to every dollar up until you’ve reached the maximum government payment of $521.43.The government will help you save by making an annual contribution to your account as long […]

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E: GARRY@BDSHUGHES.CO.NZ