With the current economic slowdown, now is the perfect time to review your business strategy and conduct a business “health check” to come out the other side improved and ready to go. Analyse whether or not your business is in the state that you want it to be in and any improvements you can make…
Supporting your employees during chaotic times as an empathetic leader will improve your relationships within your business and boost personal confidence. Here are some ways you can support your employees mentally and financially during these uncertain times. Be open with your employeesAs businesses implode due to current economic circumstances, employees want transparency and closure over…
Inland Revenue has announced that those experiencing financial hardship as a result of COVID-19 may be eligible to withdraw their KiwiSaver funds early. In addition to applying for an early release, you can also apply for a KiwiSaver savings suspension in the event that you want to stop further contributions being made from your wages…
Businesses now working from home can take the opportunity for employers to learn from the experience and consider new work structures coming out of COVID-19. This could mean increased flexibility for employees when it comes to working remotely. Here’s why you should consider flexible work arrangements with your employees. Increase productivity Flexible work arrangements can…
Increasing living expenses and commitments can make it challenging to manage and save money, especially for low income earners. Here are some tips that may help you reduce financial pressures on a low income… Prioritise high-interest debts:If you have a lot of different debts to pay off, prioritise them by their interest rates. Paying off…
Marketing your products and services during a global crisis may not always seem appropriate. Not only is it harder to create content with COVID-19 restrictions on you and your staff, but it is also important to make sure that your marketing is considerate and appropriate, otherwise your customers may view you as being insensitive. Keep…
The Inland Revenue will provide all New Zealand-based businesses struggling to pay their taxes due to COVID-19 with various forms of tax relief. Here’s a breakdown of the key relief strategies applicable to your business during these tough times. Penalties and interest write-off:Businesses unable to pay their taxes on time due to financial strain caused…
New Zealand’s national super fund, KiwiSaver, has most recently announced the move of their default super accounts from “conservative” to “balanced”. KiwiSaver default super funds have long been “conservative” due to only 10-35% of funds in accounts being invested into growth assets. However, with the change coming into effect in July 2021, the move to…