Get clued up

Small Business Guides - Invoice payment terms: Top seven tips

10 April 2017 / By Xero

Invoicing tips from other small businessesJust about every small business struggles with invoicing. A study of our users found that:·       about 60% of invoices are paid late·       more than a third are at least 2 weeks late It doesn’t matter where in the world we run this study – or who among our...

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Business Owner? Thinking of buying a motor vehicle, now might be the right time.

27 March 2017 / By RightWay New Zealand

For small companies with motor vehicles being used both for business and privately by shareholder-employees, the tax rules are often a compliance nightmare. New rules in relation FBT coming into play on 1 April 2017 means things are about to change. FBT rules up to 31 March 2017 (“The Old Rules”) ...

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Business succession and exit planning

26 January 2017 / By George Stubbs – RightWay Australia Director & Head of Operations

Many business owners expect the sale of their business to fund their retirement, with over 30% reliant on it as the primary source. Many are concerned about the level of their superannuation following the GFC and the volatile markets of recent years. Fixed interest is at an all time low and $1m of i...

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Forecast your cash flow and plan ahead

30 November 2016 / By Greg Sheehan

Over these past 5 weeks, we have posted an educational series of blogs about cash flow and the importance of knowing how to manage it properly.If you have been keeping tabs on our posts, well done, and for those joining us for the first time, here is a summary and a few quick tips of the topics we’v...

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Avoid the tax minefield and Doctor IRD

24 November 2016 / By Greg Sheehan

As a businessperson, you want to avoid running into tax minefields and being treated for your injuries by the IRD. The IRD classes tax offences as either absolute liability offences (maximum fine $12,000), knowledge offences (maximum fine $50,000), or evasion offences (maximum fine $100,000, or thre...

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Handling annual leave is no holiday

16 November 2016 / By Greg Sheehan

When you pay tax, the effect on your business cash flow is obvious. A lump of cash goes out. The effect of annual leave, however, may be less apparent.But annual leave does affect your cash flow. For example:- If you have a Christmas-New Year closedown, your employees are entitled to be paid for the...

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Provisional tax is straightforward yet complex

2 November 2016 / By Edwin Read

Provisional tax exists largely because governments don’t like waiting for money.When it comes to calculating your provisional tax liability, there are up to three methods you can consider.Standard is the, well, standard option. If you don’t choose a method, it’s the one the IRD will use. IRD also th...

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The pluses and minuses of GST and cashflow

28 October 2016 / By Edwin Read

Cashflow and profit are not the same thing. You need cashflow to generate a profit, but it’s possible to have good cashflow but still be in the red.This is the first in a series of blogs about cashflow, and the first cab off the rank is GST.As a rule, GST improves cashflow because you’ll periodicall...

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When should you recruit the help of advisors?

24 September 2016 / By Sally Newcombe

Getting sound business advice from people who know their stuff (whether it’s accountants, lawyers or the bank) is crucial for any business. So when’s the best time to bring them on board? And what support do you need when? At the start When you first start out in business, an advisor’s role is to ed...

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5 years in the making

1 September 2016 / By Jade Kaukau

Friday marks a pretty special date for the team here at RightWay. Not only do we have more than 100 people helping us change the world one small business at a time, its also our 5th Birthday!   While we’re past the initial teething stages, like all 5-year-olds we’re still developing everyday, with o...

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Spring cleaning for men

22 August 2016 / By Greg Sheehan

This one’s unashamedly for the men. I’ll explain why shortly. Guys, do you know that feeling when you’re finishing up a morning shave and splash cold water on your face, hitting the neck with cologne? That feeling of freshness and vigour is yours. The day is ahead. So where does it go from there? Le...

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5 tips for running a profitable business without running yourself into the ground

18 August 2016 / By Chun M Chung

Running a small business sounds like a dream - you’re the boss and thanks to your entrepreneurial grit and innate smarts, lifelong success is surely yours. Unfortunately the ride to riches is far from sunshine and roses. A huge 50% of small businesses in New Zealand launched in 2010 closed their doo...

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Employees v.s. Contractors

16 August 2016 / By RightWay

There’s often confusion among business owners around what it means to be an employer versus using contractors to run a business. So what defines a contractor? And how is this different to an employee? Right, so here's the basics: What is an independent contractor? Independent contractors are self-em...

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Does your business have raving fans?

11 August 2016 / By RightWay

Business is about making money. Charity is about giving it away. Don’t get those two confused. Ever noticed how often the most successful people seem to be great at doing both? Remember: People who make money are not bad. Making money is what turns our economic wheels. The more money that business o...

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Improving sales without exhausting your marketing budget

9 August 2016 / By Chun M Chung

If you’re struggling to find a way to increase your sales and profits, it may be time to backtrack and make sure you’ve got the basics sorted. If your business plan focuses too much on acquiring new customers and not enough on retaining pre-existing ones, you could be making a mistake. Here’s why: C...

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