Blog

​Yesterday’s Wellbeing Budget for 2022 had a lot to digest. The main areas for spending by the government are in Health, Housing, Education, Māori​, Equity finance for SMEs, Income Insurance and a Cost of Living payment plus other Allocations. Below is a summary of the key spending in each area. HealthThe health sector is being given […]

High inflation is hitting businesses and households hard this year. Across the world, inflation is running high, thanks to factors like pandemic disruptions, monetary stimulus and supply-chain issues. You’ll be starting to see the effects of inflation at the supermarket, the fuel pump and in your business. Eroding your buying power Inflation increases prices, which […]

In 2021, Fonterra introduced the Co-operative Difference Payment (CDP). From 1 June 2021, up to 10 cents of each farm’s milk payment will be determined by the farm’s sustainability credentials and milk quality. This payment was introduced as the Co-operative believes that farms that sustainably produce higher quality milk help to increase the value of […]

One of the biggest areas of business expenditure is buying the goods and services your company needs to operate. Whether these are raw materials, wholesale goods or cloud services, you need someone to be managing this process to keep your business cost-effective and competitive in the market. If you’re overspending on materials, or overpaying your […]

As your accountants, we don’t just look after the financial side of your business. We can provide advice on the strategic side of your company, including the importance of business development as a vital part of your growth plan. Business development is turning your strategic ideas into real success stories and moving your business from […]

The Partners of Balance Chartered Accountants and Business Advisors are proud to announce that, as of the 1 April 2022, Laurie Jordan Accounting and Business Solutions are officially joining BALANCE. Balance and Laurie Jordan have been working together for the past two years and they have now decided that the time is right to become […]

We see many business owners, who work tirelessly in their businesses and are excellent at what they do, neglect their strategy and execution plans. It’s the old adage: I’m too busy working in my business to work on it. Whilst we’re here to support you when unexpected hiccups occur, we can do so more effectively […]

You’ve had your initial business idea and written a plan. But do you know WHY you’re creating this business, or HOW you’ll deliver your end product/service? What will the company’s underlying purpose be and how will your core values drive the business? To get these crucial elements ironed out, it’s a good idea to write […]

Landlords and suppliers can sometimes ask you for a personal guarantee on a contract. Unfortunately, that could mean that if something goes wrong, you have put your house at risk. Here are a few ways to protect your home and your other personal assets from potential business problems. Personal guarantees Banks, landlords and suppliers might […]

The ‘Bank of Mum and Dad’ is one of New Zealand’s largest lenders, with between half and 70% of all first-time buyers estimated to be getting assistance from their parents. Can you afford to help, what kind of help could you provide, and how should you protect yourself? Can you afford to become a bank? […]

The Short-Term Absence payment is for businesses (including self-employed) to help pay for workers who can’t work from home or attend work while they wait for the results of a Covid-19 test. To be eligible, workers need to be unable to work from home and need to miss work while waiting for their test results. […]

So you’ve found the right person for the job, now what? Here are the next five steps you need to take. Step 1: Make an offer Check the candidate can legally work in New Zealand. Explain the 90-day trial period, if you’re going to use one (only small businesses can). Discuss the role, conditions, and […]

Dealing with difficult customers can be… well, difficult! If you and your team find yourselves in less-than-pleasant shopper interactions, having a plan is useful so you are better equipped to handle these situations with ease and grace. Prep yourself mentally – Having the right mental attitude will help prevent your buttons from getting pushed and enable […]

One of your biggest areas of business expenditure will be buying the goods and services that are needed for the company to operate. Whether these are raw materials, wholesale goods or cloud services, you need someone to be in control of this procurement process. Managing your procurement spending is a vital part of keeping the […]

Christmas holiday breaks are a chance to recharge for the year ahead especially after the year we have had. We look forward to warmer weather and finally setting up an out-of-office email for the break. However, for business owners, this time is a stressful without careful cash-flow planning. Even if you do continue to operate […]

One of the advantages of owning a business is the many tax deductions that aren’t available to employees. Most of these deductibles are well known, like vehicle and home office costs and other basic business expenses. But recently we’ve been able to help out our clients with one that’s a little less well-known: income protection […]

For retailers, having excess stock will not only take up precious backroom or shelf space, but can also tie up capital and can keep you from re-investing in your business or buying things you actually need. Excess inventory can be a result of purchasing decisions, marketing or a change in the marketplace. However, there are […]

With a new top tax rate of 39% now in place, other tax rules have also been tweaked to make sure they all align. Trusts now have new rules on disclosures, in an effort to prevent people from using trusts to avoid paying additional tax. Previously, trusts have not needed to file financial statements or […]

In June this year, the Reserve Bank received approval for a new tool to rein in house prices and control debt levels: debt-to-income (DTI) ratios. Now, some of the banks have decided to move first. BNZ has introduced a DTI for all its borrowers, and ASB has confirmed that it, too, is now applying DTI […]

The Government’s announcement on the next stage in the COVID-19 response plan introduces a new framework of measures that will commence when 90% of eligible New Zealanders are fully vaccinated. The new framework has three levels: Red, Orange and Green. Each has different levels of restrictions. At all levels businesses will be able to operate, […]