NZBusiness+Management
February 2021NZBusiness + Management With two top business magazines combined into one digital issue, NZBusiness + Management offers a feast of information, inspiration and education for business leaders and owner managers from SME through to corporate. In Management our focus is to inspire New Zealand’s business leaders and the managers of today and tomorrow to succeed in business. NZBusiness was developed specifically for business owners, the editorial content is designed to inform, inspire and educate readers. Feature articles provide more in-depth information whilst profiles and case studies provide inspirational and aspirational content.
in this issue
outlook for 2021? positive!
While we’re all thrilled to put 2020 behind us and move on, it’s important to remember the many silver linings that came out of Covid-19’s business disruption. Across the country business owners used the lockdown pressure to refocus and refine their offering – to plan and pivot, create new products, to forge new partnerships. This issue’s cover story highlights just a tiny handful of the many interesting journeys that businesses embarked on, and I trust you’ll find them enlightening and encouraging. One positive outcome from the pandemic is the somewhat surprising number of Kiwi expats who are now planning to return to their homeland and make a difference. This was confirmed in the Unleashing the Potential of our Returning Kiwis report released in November, which is based on Kea’s Welcome Home Survey data, and…
the new trusts act explained
In my experience, 75 percent of family trusts in New Zealand are so badly arranged or managed that they could easily be attacked and overturned in court,” writes Martin Hawes in his newly updated book Family Trusts. “Managing a trust badly is like insuring the contents of your house but then going out for the day and leaving all the doors and windows wide open,” he warns. “So don’t let your family trust be one of those.” This “must-have” New Zealand guide to family trusts addresses the latest legislation coming into effect from early 2021, which means that in many cases, decisions will need to be made about whether to keep or wind up existing trusts. Hawes explains the pros and cons of keeping a trust, and the regulations that must now…
invoice financing on trend for managing cashflow
Invoice financing, or advancing funds against a business’s accounts receivable, has been transformed by technology to become a valuable tool for small business cashflow management. “Traditionally invoice finance has been clunky, a mission to implement, and only available to larger businesses,” explains FundTap founder and CEO Matt Peacey. “As we all know, managing cashflow is key to business survival. In a crisis this becomes even more vital, especially for small businesses. With Covid-19 having a serious flow-on impact for businesses, and isn’t set to end anytime soon, effective and nimble cashflow management becomes even more pressing.” Obtaining additional finance from banks can prove difficult and time consuming, adding stress to business owners who are already time poor and under pressure, he adds. “Businesses frequently need to outlay capital for supplies and personnel in advance…
transformative program for women in business
Want to thrive and build your success in 2021? If you are a woman in business there is an exciting new growth program to help you do just that. Leading business growth specialist Fiona Clark has developed an exciting new BreakThrough Women in Business Program, launched in January 2021. This transformative 12 month program is designed specifically for female business owners or managers. “This program is ideal for women who want to grow and scale their business,” explains Fiona. “It’s for women who want to learn the practical skills, key strategies, mindset and personal growth, step-by-step systems, and accountability – as well as be part of a wider community of supportive women as they build their future success. “What’s unique is the focus on both personal development of the business owner as you…
revolutionise the way you sell and influence people
Jim Huse has a background in sales, psychology and business improvement and his popular 2010 book Revolutionise the way you work now has a companion title: Revolutionise the way you sell and influence people. “Selling and influencing is part of our everyday lives,” he writes. “Not just something sales people do at work. We all have requirements we want fulfilled – be they food, shelter, a new boat or a night out. Communicating these requirements to other parties in a meaningful way so that they supply them to you is ‘selling and influencing’.” This is a book improving your “selling” in all forms. A lot of the advice is basic sales common sense – it’s just unfortunate that many people in sales don’t follow those rules. It is a step-by-step guide through sales…
how do you ensure your paye is paid on time
It has always been important for businesses to manage their incoming and outgoing payments on time. The task of regularly checking bank statements can be tedious, but for some businesses is a necessary task to ensure sufficient funds are available to comply with their many financial obligations, not the least of which is their PAYE payment obligations to Inland Revenue (IR). PAYE, KiwiSaver deductions and contributions, student loans and child support are essential deductions from employees’ wages each and every payday. These employee deductions are held in the business’s bank accounts, to be transferred to the Inland Revenue (IR) in time to meet the 20th of the following month deadline (or 5th and 20th in case of large employers). Payday filing requirements mean the PAYE reports must be filed with IR…
