Corporate firms use sophisticated transition plans to allow staff to get promoted, to leave and to retire. Does an SME business owner have the same options?
Monteck Carter knows a lot of “baby boomer” business owners are already working on planning their own retirement. Some won’t actually get to 65 for ten years but having a large number of firms come up for sale at the same time may mean prices get depressed.
No business is “ready for sale” overnight – it takes time, planning and careful management… Let Monteck help you reach your financial goals!
“STICK TO YOUR KNITTING“ many business people do try to do too many things, wasting time and energy on areas of their business that they could pay others to do for them. This can give them more time to either increase their chargeable hours or to work on their business and improve their bottom line.
What you should consider when you want to move from employee to self-employed contractor status.
A Shareholders’ Agreement is a contract between the shareholders of a company. Without one, you risk a dispute at some point down the track when each shareholder has a different idea of who can do what, when they can do it, how it is done, and what was agreed at the outset. You do not really need one until you need one (at which time it is too late).
It’s the little things that make up the big things. Here’s a list of ten traits of some of the movers and shakers in the world today (and from the past).
Having a steady cash flow is a must for any startup as it keeps your business running.
A complex and growing global fraud is targeting New Zealand businesses …..The email compromise scam sees an email sent to a company’s accounts department from a seemingly legitimate client or colleague. The emails ask the accounts department to update or process a normally regular payment with a new or amended bank account number.
If you receive a call with an offer that sounds too good to be true, it probably is. Online scammers and fraudsters use all kinds of tricks to steal from businesses. By taking sensible precautions you and your business can avoid becoming victims.
Digital signing, versus the traditional “wet” signature, has become increasingly popular in recent years. It allows you to sign documents online directly from your PC, Smartphone or IPad. Hassle Free! More and more countries have endorsed….
Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to accounting mistakes that derail future growth. Protect your business and reduce your stress by avoiding these five costly accounting errors.
There are several aspects of business that can only be learnt through actual experience. One of them is negotiating contracts. Several people fear the negotiation process because it is an intrinsically uncomfortableRead More…
We know that developing successful relationships helps make successful businesses. Meeting your needs is our top priority! Having a strong relationship with your accountant who has a deep understanding of your individual situation gives you the most robust financial advisory support. We take care of your business bookkeeping, accounting and financial advisory needs. Whether this is as simple as preparing your annual financial statements and tax returns or more complex assistance with financial planning, budgeting and forecasting, Monteck Carter has an experienced team who can help.
Monteck Carter is all about sharing information that will make your administration process easier for everyone and one of the software tools we utilise and recommend is Xero. They recently released the Business Performance Dashboard, a new way of giving you better visibility of how your business is performing.
Are you thinking about exporting for the first time, but not sure how to go about it? New Zealand Trade and Enterprise (NZTE) offers some general tips for companies starting to think about exports:
Preparation is key. Like any business development and growth plans, exporting needs to be carefully considered and managed. Plans and budgets should be prepared, objectives need to be set. For example:
Every year the Government invests millions into companies that provide employment, increase exports and build wealth in New Zealand. Therefore Regional Business Partners have been set up by NZ Trade & Enterprise (NZTE) and Callaghan Innovation to be local hubs of business development know-how and research and development (R&D) expertise. Each partner works with local businesses in their
Changes to health and safety (H&S) laws are a step closer, with the select committee reporting its recommendations back to Parliament. The Bill is expected to be passed later this year and there will be some months before it comes into effect. During this time government will provide further guidance to help businesses understand what the new law means for them, so you will have plenty of time to prepare.
I had the opportunity to engage with an employee of a business I visited recently and she described the business as a “Fruit Salad”. “That’s an interesting description” I said, “what does that mean” I asked.
You will have heard us say how important it is to work on your business, not in it. That may sound confusing – aren’t they the same thing? Monteck Carter helps clients “Bridge the Gap” with a Complimentary Business review designed to show you what you can do as a business owner or Director to improve the business while still working on your day to day job.
Having a steady cash flow is a must for any startup as it keeps your business running and in the long run, it’s going to become a healthy base for client/customer management. Whether it’s a startup or an established small business, there are always some folks who forget to pay on time. When I
Ambitious businesses must move with the times and adapt to suit new business trading situations. We’ve been growing our client base and the Partners can no longer manage all the day to day administration – it was clear we needed to change and move forward.
Among popular Three Letter Abbreviations is CFO – it sits along CEO, CMO, CTO and a heap of other “chief Something officers”. Do you even know what this means and how a chartered accounting firm can assist with this service? Let’s break it down and explain what a CFO is and what they do.
Everyone knows that for property the answer is location, location, location. For a new business the equivalent is cash, cash, cash. Cashflow is vital to help establish and grow a new business, especially in that critical early period. Established businesses also know the importance of cashflow to help keep everything running while you invest to grow the
The effect of the new Financial Reporting Act 2013 on your company depends largely on the size of your business because the changes will impact many small and medium businesses. We’ve summarised the main points of the Act below – contact us to make sure you know which apply to your business.
It’s expected that the Health and Safety Reform Bill will be passed before the end of the year and that the resulting Health and Safety at Work Act will be implemented in stages, the first stage taking effect from 1 April 2015. The legislation itself is part of a major reform of health and safety practice in New Zealand.
Some of you will have been advised that your company has a NZBN. This is a new number that has been allocated to each company and is now showing on the Companies Office Register.
The Financial Reporting Act which came into force on 1 April 2014 changes financial reporting obligations for most companies. Medium sized companies between $2 million and $30 million will have reduced compliance and smaller companies will be able to prepare simplified statements.
Profit does not equate to cash and unless you understand the drivers behind your cashflow you are not going to be able to run your business effectively. These areas can affect your cashflow but not your profit and are mainly found outside the profit and loss statements ie in your Balance Sheet
With the holiday season fast approaching, now is a great time to take a closer look at your obligations around public holiday pay and annual leave entitlements. The most important requirement is that all employees are entitled to a paid day off on a public holiday if it would otherwise be a normal working day.
Whether you’re planning a new product, a new business venture or simply brainstorming, here are some tips to help boost creativity and innovation within your business:
Karen’s background is initially in industry working as a corporate and management accountant. Since 1997 she worked in the public accounting arena. She was a partner in Monteck Group until our merger this year with Glynis Carter from Corbett Carter. Experience in industry helps her to assist our clients within their businesses. Growing their business at the same time as
In recent months we have seen plenty of examples of the hurdles that have to be overcome when there is no existing shareholder agreement in place. The absence of shareholders’ agreements amongRead More…
If you are a business owner, you’ll know that the more stressed out you are, the more you need a holiday and the less easy it is to make the time. Here are a few tips to help you plan a holiday and make the most of it:
In the age of information we’re constantly being distracted and stimulated by people, advertising and messages. It’s like working with the TV on in our heads! It’s time to limit procrastination and filter the white noise.
Working remotely can be an attractive proposition for both employers and employees. The virtual worker is rewarded with job flexibility – providing their services from home, separate or even multiple office locations. The Employer can streamline their business, and minimise overheads.
Think you don’t have time to take a holiday? Holidays are vital for tired, stressed business owners. Not only is the habit of taking regular holidays linked to reduced mortality and lower incidence of heart disease, but holidays have myriad benefits.
To have a great business, you need to establish a customer loyalty ladder. The ultimate aim is to develop evangelists for your business.
Consumers are looking to deal with businesses they can trust. Is your business creating a feeling of trust with the customer? It is a good idea to obtain testimonials, preferably on video, from happy customers and utilise these videos on your website. Do you conduct customer surveys to discover customers
The biggest single risk for small businesses is cashflow. Conversely customers who pay their bills are the most important ingredient for business success. Cashflow and customer development are therefore vital aspects of risk management in your small business.
Running a special product offer or discounted service pack through an online deals website is becoming an increasingly popular marketing strategy to drum up business and establish new client relationships.
Planning a new product or event, or just wanting some direction? It might be time to brainstorm! Effective collaboration is harder than it sounds. Avoid another meaningless meeting and consider ways to get the most from brainstorming:
If someone asks you what your business is, can you tell them in a nutshell? Or will they be bored and confused before the elevator reaches the 2nd floor…
To make sales you need visitors. Is your website actively in the public domain? Using flyers, advertising, supporting an event or charity, giving out business cards, the use of smart packaging, referral sites, and business directories are some simple ways to put your brand and website address out there for potential customers to see
If an important team member were suddenly unavailable, would you have instant access to vital business information?
On 1 August 2012, the Companies Office will be making a series of changes to the fees it charges for services, and will also begin to collect levies to fund the Financial Markets Authority (FMA) and the External Reporting Board (XRB).
Business names brands and logos are important and business owners should consider doing what they can to protect them. Monteck GroupRegistering a trade mark usually gives the owner the sole right in the jurisdiction to use the mark in relation to the goods or
Profit does not equate to cash and unless you understand the drivers behind your cashflow you are not going to be able to run your business effectively. These areas can affect your cashflow but not your profit and are mainly f