Blog

Read our latest news and blog posts below. Get in touch with us if you’d like to find out more information on the articles below.

What is inflation?

Inflation is the term used to describe an increase in the average prices for goods and services through the economy.  Inflation is a loss of purchasing power over time – it means your dollar will not go as far tomorrow as it did today.  It is measured as the rate of change of those prices. […]

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5 signs you’re undercharging

Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry, or you’re a contractor. Costs have been rising due to inflation and the pandemic, so it may be time to rethink your own pricing.  Here are five signs that you might be undercharging:  Nobody ever questions […]

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5 apps to help you run your small business

If you’re a small-medium business owner, you’re more than likely good at being a bit of a jack of all trades – but there are some apps to help you handle a few of the day-to-day tasks. Here are five of the best types of apps for small businesses:  Time tracking  Automatically track how much […]

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Get prompt payments by creating an accounts receivable process

Accounts receivable is about getting paid for the work you do.  In business, it doesn’t get much more important than that. The process covers every part of the payment lifecycle – finding customers, communicating expectations, billing correctly, and following up on late invoices.  If you’re struggling with late payments here are some simple tips to […]

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What’s the value of cashflow forecasting?

Everyone’s talking about cash flow forecasting and you know it’s important but how does cash flow forecasting actually help your business?   Forecasting your cash flow pipeline allows you to navigate the future path of your cash flow – so you can map out what the financial position of the business will look like over the […]

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Should I focus on profits or cash flow?

Everyone knows how important turning a profit is for the successful running of a business. However, if you’re looking to create a stable, long-term business, what else should you be focusing on other than profit?   Cash flow is the beating heart of your business as without an even and predictable flow of cash into […]

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Should you buy or lease your business assets?

There are certain items of equipment, machinery, and hardware that are essential to the operation of your business – whether it’s the delivery van you use to run your home-delivery food service or the high-end digital printer you use to run your print business. When a critical business asset is required, should you buy this […]

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Keeping on top of small business cash flow

Money in, money out. Cash flow is one of the most important measures of your business’s health. It’s important to keep track of but how do you monitor it? It sounds simple – track sales on one hand and expenses on the other – then compare the two. However, it’s not that simple. 65% of […]

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Innovate Whanganui

Innovate Whanganui is in its second year and is a local competition based on the “Dragon’s Den” idea that supports an entrepreneur from ideation to scale and investment. The competition is designed to support local entrepreneurs and start-up business initiatives. Innovate is for those who have a novel idea, or are stuck and need a […]

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Five Tips for your next Business Negotiation

The world of business negotiations often has a lot of contradictions. You need to be firm but flexible; open and sharing, but also hold back. This can be a lot to get your head around but if you aim for a mutually beneficial outcome, the negotiation is likely to go better and you’ll in turn […]

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Is your cost of sales affecting your gross profit?

How much does it cost you to produce your product(s)? The better you understand your cost of sales, or cost of goods sold (COGS) as it’s more commonly known, the better control you have of your company’s profit margin. Once you know your COGS, you’re able to set the right price point, get good profit […]

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Five Factors for Farm Accounting

We all know that farming is a different business to any other, not to mention that farm accounting is much more complex when you factor in the assets, liabilities, costs and revenue. Here are some factors to consider with your farm accounting. 1. The land is an asset If you properly manage your agricultural land, […]

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Could you benefit from the new Business Growth Fund?

The latest government budget announced an investment of $100 million into a new Business Growth Fund. This funding is designed with small and medium-sized businesses (SMEs) in mind, to allow them to get the investment they need to grow, whilst also allowing owners to keep control of their business. Why has this fund been launched? […]

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The COVID-19 Small Business Cashflow Scheme (SBCS)

The Inland Revenue Small Business Cashflow Scheme (SBCS) was announced to support struggling small and medium businesses with a loss of actual revenue because of COVID-19. This scheme has now been running for 2 years which means depending on the date you withdrew the loan, the 2 year interest free period is now finished.   […]

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Key Points from the 2022 Budget

​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 […]

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High inflation: What does it mean for your business?

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 […]

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Fonterra Co-Operative Difference Payment

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 […]

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How to improve your procurement spending

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 […]

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How an accountant supports your business development

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 […]

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BALANCE Chartered Accountants officially extends its support into Taranaki

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 […]

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