Watch out for new trust rules that have the potential to put your assets at risk. There have been a lot of rule changes for trusts over the past few years – and now Inland Revenue has introduced another tweak, one you need to know about if you use trusts to protect your assets. Who’s […]
When you’re in business you tend to know the main forces that either compete with you or work with you. For example, your main competitors, your suppliers, your buyers. There are so many factors that can impact profitability of a business. According to the Porter’s Five Forces framework, there are 5 forces that can help
What are the forces driving your industry? Read More »
Do you know what’s happening with cash flow for your business right now? How about six months from now? Cash flow monitoring and forecasting are essential to keep your business heading in the right direction. There are so many priorities in the working day, it can be hard to stay focused on what’s happening with
Managing your business cashflow Read More »
Like any relationship, timely communication between creditors and debtors goes a long way to avoiding trouble. If you operate on credit terms and are upfront with customers about what payment is expected and when, it’s much easier to follow up with them on an overdue account. Business owners who keep track of when invoices are
Communication important in managing debtors Read More »
For those that applied for the Small Business Cashflow Loan (SBCS) in 2020, the 2-year interest-free period will be coming to an end during 2022. All businesses that received the first loan will start receiving letters advising that the interest will soon be charged to the loan and repayments should commence. If repayment is received
Repayment information for the Small Business Cashflow Loan Read More »
It’s a given that you’ll want to maximise your business income. Sometimes, however, when factors outside your control are limiting your income, rethinking your costs might be where you can shift your outcomes in your favour. Whether the market’s in an upward or downward cycle, good systems for tracking and controlling costs will help your
Cost Control for Businesses Read More »
We have many years experience helping our clients looking to buy or sell a business. Talk to someone at Engine Room Accountants who you can trust to ensure you’re set up to take on a viable business.
Selling your business? Top 3 things to consider. Read More »
How to strengthen your business in times of increasing costs From the 1st April 2022 the minimum wage will increase to $21.20 an hour. Small business owners who employ staff on minimum wage will have to increase wages accordingly. Small business owners are already feeling the strain of recent global and local events and this
How to Strengthen your Business Read More »
Are you Ready? As a business owner or manager, you need to be ready for the increase in minimum wage rates on Friday, 1 April 2022. If you have not yet talked to your accountant, payroll provider or your finance/HR teams, now is the time. It’s also an opportunity to check your employment records, processes
Minimum Wage Increase 1st April 2022 Read More »
2nd COVID-19 Support Payment to open on 14 March A 2nd COVID-19 Support Payment (CSP) will open on 14 March and a 3rd payment will open on 28 March. The period of time each CSP will cover are: For the 1st CSP, businesses will need to show their income is 40% lower in a 7-day
Update on CSP Changes – March 2022 Read More »
